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    Restaurant, Bar, and Rental Units Title is generated by Realmo AI

    28080 WALTZ Road, New Boston, MI 48164

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    For Sale
    $595,000

    Business And Real Estate - New Boston, MI

    Property size:
    3,450 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $172/SF
    Added:
    Apr 28, 2025
    Days on Market:
    385
    Last Refresh:
    May 17 at 4:06 am

    Property Features for 28080 WALTZ Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    75127010276000
    Size
    3,450 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2661
    Expense value
    250000
    Expense
    Security Deposit
    Expense freq.
    Once

    Building Details

    Year built
    1912
    Floors in Building
    2
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Thomas Gaunt

    Listing agent Thomas Gaunt

    Listing office KW Showcase Realty 2730 Union Lake Road, commerce Township, MI

    Listing date Apr 28, 2025

    MLS# 20250030101 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Restaurant and bar with carryout license and all inventory included.
    • Two income‑generating rental units located upstairs with appliances included.
    • New roof installed in July 2024.
    • Established business with a long history and seating capacity of 82.
    • Land contract option available with specified terms.
    • Potential for high revenue based on previous sales history.

    Overview

    The Waltz Inn Restaurant and Bar is available for purchase. This establishment, which includes a carryout license and existing inventory, has been closed for several years. The property also features two rental units on the upper level, providing additional income potential. All appliances in the rental units are included in the sale. A new roof was installed in July of 2024. The restaurant has a history as a gathering place for the community, having been in operation for approximately 36 years, while the tavern dates back to the early 1900s. The seating capacity is 82. The property is zoned commercial and sits on a 0.21-acre lot. The building size is 3,450 square feet. The last full year in business generated ~$570,000 in sales when being open only 5 days a week. Their best year generated ~$800,000 in sales when being open 7 days a week. The property is located in New Boston, MI.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $496.8K
    NOI $44,712 @ 9.00% cap · cautious / downside scenario
    Moderate
    $638.7K
    NOI $44,712 @ 7.00% cap · market / base-case scenario
    Aggressive
    $894.2K
    NOI $44,712 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $62.1k $18.00
    − Vacancy −$2.5k −$0.72
    EGI $59.6k $17.28
    − OpEx −$14.9k −$4.32
    NOI $44.7k $12.96
    3,450 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $638.7K
    $558.9K – $745.2K (±1% cap)
    NOI $44,712 @ 7.0% cap · market cap 7.51%
    Second Best
    Multifamily LT 5
    $483.9K
    $423.4K – $564.5K (±1% cap)
    NOI $33,870 @ 7.0% cap · market cap 5.69%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Building Supply Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Bar & Pub Daycare Center Grocery & Convenience Store Food Market Barber Shop Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • McNasty's Saloon — 19300 Waltz Rd, New Boston, MI 48164

    Location Insight

    • Map
    • Local Demand
    City
    New Boston
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3926722
    Latitude
    42.1001145

    FAQs

    What type of property is this?
    Bar & Pub - Restaurant and bar with two income-generating rental units.
    Where is this bar & pub located?
    The property is located at 28080 WALTZ Road New Boston, MI.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Restaurant and bar with carryout license and all inventory included.; Two income‑generating rental units located upstairs with appliances included.; New roof installed in July 2024.
    (248) 767-6931
    We can help!
    Listing Contact
    Thomas Gaunt
    Real Estate License ID: 6501387074
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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