Building Details

Year Built 1983

Listing Agency: Keller Williams First Show Phone

Listed By: Bahia M Jarrah · License #6501324031 Show Phone

Source: Exitrealty

Added: Jul 6, 2024 Changed: Sep 1 Last Checked: Sep 15 at 6:30AM

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Investment Insights

Based on property information with market context.

This attractive stone and brick building, constructed in 1983 and completely remodeled in 2020, offers 3,500 square feet of space on a 0.68-acre lot. Previously operated as a family-owned restaurant for over 40 years, it features two dining areas, a banquet room, a granite bar, and seating for over 100 patrons. The property benefits from a location on a high-traffic road with 124 feet of frontage and convenient access to I-75, I-69, and US-23. Asphalt parking provides ample space for at least 40 vehicles. The restaurant has a long-standing reputation and a consistent clientele, with a large take-out business.

Key Highlights

• Turnkey restaurant building with established reputation and consistent clientele
• High‑traffic location with 124 ft frontage and easy access to I‑75, I‑69 & US‑23
• Recently remodeled in 2020 with 2 dining areas, banquet room, and granite bar

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,034

Cap Rate

6.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,680 $620.7K

Cap Rate 7%

$443,343 $443.3K

Cap Rate 9%

$344,822 $344.8K

Market Conditions

NOI Build-Up for 3,500 SF

Gross rent

$50.4K $14.40/SF

− Vacancy

−$9.0K −$2.58/SF

EGI

$41.4K $11.82/SF

− OpEx

−$10.3K −$2.96/SF

NOI

$31.0K $8.87/SF

Area

Genesee County, MI

Vacancy

17.90%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,680

Cap Rate 7%

$443,343

Cap Rate 9%

$344,822

Alternative Uses

Best Use

Specialty Retail

$443.3K

$387.9K – $517.2K (±1% cap)

NOI $31,034 @ 7.0% cap · market cap 6.22%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$736.5K

$644.4K – $859.2K (±1% cap)

NOI $51,554 @ 7.0% cap · market cap 10.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Badawest Restaurant Restaurant

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply HVAC Service Gym & Fitness Center Hair Salon

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

336

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48532, MI

19,247

Population

9,093

Households

2.1

Avg Household Size

43

Median Age

19%

College-Educated

88%

High-School Grad

16.0 sq mi

ZIP Area

1,203

Density / Sq Mi

$58,118

Median Household Income

$34,361

Median Earnings

$929

Median Rent

$157,300

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Remodeled restaurant building with high traffic location and ample parking.

Where is this conventional restaurant located?

The property is located at 4018 CORUNNA Road Flint, MI.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: Turnkey restaurant building with established reputation and consistent clientele; High‑traffic location with 124 ft frontage and easy access to I‑75, I‑69 & US‑23; Recently remodeled in 2020 with 2 dining areas, banquet room, and granite bar