Renovated Breakfast
For Sale
Contact for pricing
1234 South Main Street, Royal Oak, MI 48067
Updated restaurant space with an established kitchen, counter service area, and dining buildout.
Property Size1,800 SF
Price / SF$222.22
Days on Market43
Property Features for 1234 South Main Street
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Retail, Hospitality, Business for Sale
Financials
Asking Price
$400,000
Business Included
Yes
Additional Details
Seating Capacity
60
Listing Agency:
Metropolitan Property Group
Listed By:
JOHNNY GJOKAJ · License #Mi 352381
Source:
Crexi
Added: Sep 8
Changed: Oct 14
Last Checked: Oct 20 at 5:02PM
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 Metropolitan Property Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This approximately 1,800-square-foot breakfast diner in Royal Oak includes seating for approximately 60 guests, an established kitchen, counter service area, and dining improvements. The restaurant has been recently renovated and is structured under a gross lease.
The property is positioned at 1234 South Main Street near Downtown Royal Oak’s pedestrian activity, restaurants, nightlife, entertainment, residences, and offices. The nearby Corewell Health Royal Oak medical campus adds another notable element to the surrounding commercial and institutional setting.
The property is positioned at 1234 South Main Street near Downtown Royal Oak’s pedestrian activity, restaurants, nightlife, entertainment, residences, and offices. The nearby Corewell Health Royal Oak medical campus adds another notable element to the surrounding commercial and institutional setting.
Key Highlights
- Approximately 1,800 square feet of restaurant space
- Seating for approximately 60 guests
- Recently renovated interior with counter and dining buildout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,177
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,540
$543.5K
Cap Rate 7%
$388,243
$388.2K
Cap Rate 9%
$301,967
$302.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$38.9K $21.60/SF
− Vacancy
−$2.6K −$1.47/SF
EGI
$36.2K $20.13/SF
− OpEx
−$9.1K −$5.03/SF
NOI
$27.2K $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%
$543,540
Cap Rate 7%
$388,243
Cap Rate 9%
$301,967
Alternative Uses
Best Use
Specialty Retail
$388.2K
$339.7K – $453.0K
NOI $27,177 @ 7.0% cap · market cap 6.79%
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
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
54k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 61%
Shops & Services 39%
Holiday Market
Groceries
32,802 visits/mo
0.1 miles
chrysler main train station
Shops & Services
10,203 visits/mo
0.3 miles
Fifth Third Bank & ATM
Shops & Services
7,078 visits/mo
0.3 miles
Huntington Bank
Shops & Services
3,892 visits/mo
0.3 miles
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Zoe's House of Pancakes — 25994 Woodward Ave, Royal Oak, MI 48067
- D'Amato's Restaurant — 222 Sherman Dr, Royal Oak, MI 48067
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Updated restaurant space with an established kitchen, counter service area, and dining buildout.
Where is this breakfast & diner located?
The property is located at 1234 South Main Street Royal Oak, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Approximately 1,800 square feet of restaurant space; Seating for approximately 60 guests; Recently renovated interior with counter and dining buildout
