Building Details

Building Size 2,985 SF

Year Built 2002

Year Renovated 2020

Listing Agency: Keystone Commercial Real Estate

Listed By: Greg Newman · License #6501288543 Show Phone

Source: Keystonecres

Added: Jun 2 Changed: Oct 1 Last Checked: Oct 5 at 4:59PM

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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 Keystone Commercial Real Estate

Investment Insights

Based on property information with market context.

This drive-through restaurant includes a 2,985 SF building constructed in 2002 and renovated in 2020. The property is currently at 100% occupancy and features pylon signage.

Located at 2630 Oakwood Blvd in Melvindale, Michigan, the site is identified as zoned R1 1 FA in the provided materials. The current lease expires 11-31-2030, with 2- and 5-year options. The tenant is Savvy Sliders, a brand with over 50 franchise restaurants in the United States, per the seller’s remarks.

Key Highlights

• 2,985 SF retail building built in 2002
• Renovated in 2020
• 100% occupancy

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,686

Cap Rate

4.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$773,720 $773.7K

Cap Rate 7%

$552,657 $552.7K

Cap Rate 9%

$429,844 $429.8K

Market Conditions

NOI Build-Up for 2,985 SF

Gross rent

$53.7K $18.00/SF

− Vacancy

−$2.1K −$0.72/SF

EGI

$51.6K $17.28/SF

− OpEx

−$12.9K −$4.32/SF

NOI

$38.7K $12.96/SF

Area

Wayne County, MI

Vacancy

4.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$773,720

Cap Rate 7%

$552,657

Cap Rate 9%

$429,844

Alternative Uses

Best Use

Specialty Retail

$552.7K

$483.6K – $644.8K (±1% cap)

NOI $38,686 @ 7.0% cap · market cap 4.69%

Second Best

—

—

no second resolved use

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Savvy Sliders Restaurant Happy's Pizza Restaurant

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Nail Salon Dental Office Parking Lot & Garage

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

Lease Details

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

327

Businesses Nearby

18k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 85% Hotels & Casinos 15%

BP Shops & Services

10,915 visits/mo 0.4 miles

Mobil Shops & Services

3,589 visits/mo 0.3 miles

Red Roof Inn & Suites Detroit - Melvindale/Dearborn Hotels & Casinos

2,356 visits/mo 0.2 miles

U-Haul Shops & Services

1,147 visits/mo 0.2 miles

Budget Inn Hotels & Casinos

468 visits/mo 0.3 miles

Demographics for 48122, MI

12,825

Population

4,693

Households

2.7

Avg Household Size

32

Median Age

15%

College-Educated

70%

High-School Grad

2.7 sq mi

ZIP Area

4,750

Density / Sq Mi

$41,356

Median Household Income

$30,744

Median Earnings

$1,116

Median Rent

$113,100

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

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What type of property is this? Where is this drive through 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?

Drive through restaurant - 2002-built drive-through restaurant renovated in 2020; current lease runs through 2030.

Where is this drive through restaurant located?

The property is located at 2630 Oakwood Blvd Melvindale, MI.

What is the asking price?

The asking price for this property is $824,999.

What are key features of this property?

This property features: 2,985 SF retail building built in 2002; Renovated in 2020; 100% occupancy