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    505 South Main St Royal Oak, MI 48067

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    For Lease
    $26 SF/Yr ($16,494 /Mo)

    Prime retail space available on Main Street for lease.

    Property size:
    7,613 SF
    Lot size:
    0.15 Acres

    Property Features for 505 South Main St

    General Information

    Size
    7,613 SF
    Lot size
    0.15 Acres

    Source: Thomas Hospitality Group Agent Michael E. Scheid

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Main Street Retail Opportunity

    Located on Main Street, this property offers an opportunity for various business ventures. The entry-level lease rate is $26 per square foot. The space is suitable for a restaurant, bar, cigar bar, or retail operation. New equipment, still in boxes, is available for use. The landlord has a Class C liquor license available for use. New electrical and HVAC systems are in place. The first floor offers 3,706 square feet, the second floor provides 3,907 square feet, the patio measures 988 square feet, and the basement offers 897 square feet. There is a 988 sq ft outdoor patio on the second floor. Street and parking structures are located nearby. The landlord is flexible regarding the amount of space leased.
    Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Similar Places Nearby

    Marilyn's Detroit, Supreme Cuizzine LLC, Holiday Market Catering, Creative Cooking By Amy Jean, Café Muse

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1437623
    Latitude
    42.4862601

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    FAQs

    What type of property is this?
    Restaurant - Prime retail space available on Main Street for lease.
    Where is this restaurant located?
    The property is located at 505 South Main St Royal Oak, MI.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: - Low entry-level lease rate of $26/square foot on Main Street.; - Existing structure suitable for restaurant, bar, cigar bar, or retail operation.; - Class C Liquor License available for use.
    (248) 866-4855
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    505 South Main St Royal Oak, MI 48067
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