Existing Burger King Restaurant For
For Sale
$1,450,000
1113 E West Maple Road, Walled Lake, MI 48390
Operating Burger King restaurant available for purchase.
Property Size3,039 SF
Price / SF$477.13
Days on Market158
Property Features for 1113 E West Maple Road
General Information
Standard status
Active
Size
3,039 SF
Property subtype
Retail
Building Details
Building Size
3,039 SF
Year Built
1983
Listing Agency:
Thomas Duke Company
(248) 476-3700
Listed By:
Mark Szerlag · License #6502342846
Source:
Thomasduke
Added: Mar 26
Changed: Aug 26
Last Checked: Aug 29 at 6:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Thomas Duke Company
Investment Insights
Based on property information with market context.
This property features an existing Burger King restaurant. The building size is 3039 square feet. It is suitable for drive-through restaurants, restaurants, and general commercial real estate purposes.
Key Highlights
- Existing Burger King Restaurant
- Year Built: 1983
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,884
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$917,680
$917.7K
Cap Rate 7%
$655,486
$655.5K
Cap Rate 9%
$509,822
$509.8K
Market Conditions
NOI Build-Up for 3,039 SF
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.
Gross rent
$65.6K $21.60/SF
− Vacancy
−$4.5K −$1.47/SF
EGI
$61.2K $20.13/SF
− OpEx
−$15.3K −$5.03/SF
NOI
$45.9K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$917,680
Cap Rate 7%
$655,486
Cap Rate 9%
$509,822
Alternative Uses
Best Use
Specialty Retail
$655.5K
$573.6K – $764.7K
NOI $45,884 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
92k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 30%
Home Improvements & Furnishings 8%
McDonald's
Dining
19,187 visits/mo
0.2 miles
Wendy's
Dining
12,681 visits/mo
0.1 miles
Dollar General
Shops & Services
7,449 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
6,987 visits/mo
0.2 miles
Tim Hortons
Dining
6,844 visits/mo
0.1 miles
Demographics for 48390, MI
24,273
Population
10,995
Households
2.2
Avg Household Size
44
Median Age
43%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,942
Density / Sq Mi
$89,411
Median Household Income
$53,442
Median Earnings
$1,575
Median Rent
$287,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Operating Burger King restaurant available for purchase.
Where is this drive through restaurant located?
The property is located at 1113 E West Maple Road Walled Lake, MI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Existing Burger King Restaurant; Year Built: 1983
