Renovated Drive-Through
For Sale
$824,999
2630 Oakwood Blvd, Melvindale, MI 48122
2002-built drive-through restaurant renovated in 2020; current lease runs through 2030.
Property Size2,985 SF
Price / SF$276.38
Days on Market81
Property Features for 2630 Oakwood Blvd
General Information
Standard status
Active
Size
2,985 SF
Property subtype
Retail
Zoning
R1 1 FA
Occupancy
100%
Amenities
pylon signage
Building Details
Building Size
2,985 SF
Year Built
2002
Year Renovated
2020
Listing Agency:
Keystone Commercial Real Estate
(248) 406-7113
Listed By:
Greg Newman · License #6501288543
Source:
Keystonecres
Added: Jun 2
Changed: Aug 14
Last Checked: Aug 20 at 4:58AM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,686
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
