Turnkey Restaurant with Built-In
For Sale
$1,299,999
8140 Michigan Ave, Detroit, MI 48210
Turnkey restaurant with a fully built-out kitchen and an included Wayne County Class C liquor license attached to the building.
Property Size4,300 SF
Price / SF$302.33
Days on Market82
Property Features for 8140 Michigan Ave
General Information
Standard status
Active
Size
4,300 SF
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
1951
Listing Agency:
New Michigan Realty, LLC
Listed By:
Joseph Tinpan · License #6501306210
(586) 634-0365
Source:
Katie-k
Added: Jul 17
Changed: Oct 5
Last Checked: Oct 5 at 11:19PM
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 New Michigan Realty, LLC
Investment Insights
Based on property information with market context.
This turnkey restaurant offering includes a fully built-out kitchen, designed for immediate use. The property is being sold with a Wayne County Class C liquor license included in the asking price and already attached to the building.
Located at 8140 Michigan Avenue in Detroit, the space is positioned to serve restaurant operators seeking an existing, ready-to-run setup.
With the kitchen improvements already in place and the liquor license included, this property presents a streamlined path for an operator looking to launch from the existing build-out.
Located at 8140 Michigan Avenue in Detroit, the space is positioned to serve restaurant operators seeking an existing, ready-to-run setup.
With the kitchen improvements already in place and the liquor license included, this property presents a streamlined path for an operator looking to launch from the existing build-out.
Key Highlights
- Turnkey restaurant space with a fully built‑out kitchen
- Wayne County Class C liquor license included and already attached to the building
- Property located on Michigan Avenue (Wayne County)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,746
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,920
$1.1M
Cap Rate 7%
$810,657
$810.7K
Cap Rate 9%
$630,511
$630.5K
Market Conditions
NOI Build-Up for 4,300 SF
Gross rent
$80.0K $18.60/SF
− Vacancy
−$4.3K −$1.00/SF
EGI
$75.7K $17.60/SF
− OpEx
−$18.9K −$4.40/SF
NOI
$56.7K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,920
Cap Rate 7%
$810,657
Cap Rate 9%
$630,511
Alternative Uses
Best Use
Specialty Retail
$810.7K
$709.3K – $945.8K
NOI $56,746 @ 7.0% cap · market cap 4.37%
Second Best
Industrial
$298.8K
$261.4K – $348.6K
NOI $20,914 @ 7.0% cap · market cap 1.61%
Theoretical Best
Office A
$948.6K
$830.0K – $1.11M
NOI $66,402 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
45k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 22%
Home Improvements & Furnishings 5%
Electronics 5%
Little Caesars Pizza
Dining
9,680 visits/mo
0.2 miles
Citgo
Shops & Services
8,129 visits/mo
0.1 miles
Family Dollar
Shops & Services
7,405 visits/mo
0.0 miles
Sunoco
Shops & Services
6,073 visits/mo
0.2 miles
Comerica Bank
Shops & Services
4,382 visits/mo
0.2 miles
Demographics for 48210, MI
27,155
Population
10,576
Households
2.6
Avg Household Size
28
Median Age
9%
College-Educated
57%
High-School Grad
4.9 sq mi
ZIP Area
5,542
Density / Sq Mi
$38,900
Median Household Income
$25,220
Median Earnings
$968
Median Rent
$60,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Turnkey restaurant with a fully built-out kitchen and an included Wayne County Class C liquor license attached to the building.
Where is this commercial kitchen located?
The property is located at 8140 Michigan Ave Detroit, MI.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Turnkey restaurant space with a fully built‑out kitchen; Wayne County Class C liquor license included and already attached to the building; Property located on Michigan Avenue (Wayne County)
