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Building Details

Building Size 3,039 SF

Year Built 1983

Listing Agency: Thomas A. Duke Company

Listed By: Mark Szerlag · License #6502342846 Show Phone

Source: Thomasduke

Added: Mar 26 Changed: Oct 10 Last Checked: Oct 14 at 7:51PM

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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 A. 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 / Yr

$45,884

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$917,680 $917.7K

Cap Rate 7%

$655,486 $655.5K

Cap Rate 9%

$509,822 $509.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,039 SF

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 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 (±1% cap)

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. How Realmo checks its estimates

Property Analytics

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Current Use

Burger King Restaurant

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Building Supply Restaurant Spa & Massage Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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