Turnkey Restaurant For
For Sale
$495,000
Pending
1297 Fort St, Wyandotte, MI
Fully equipped restaurant with drive-thru and ample parking.
Property Size2,140 SF
Lot Size0.50 Acres
Days on Market207
Property Features for 1297 Fort St
General Information
Standard status
Pending
Size
2,140 SF
Lot size
0.50 Acres
Taxes and HOA fees
Annual Taxes
$7,569
Listing Agency:
RE/MAX Team 2000
(313) 561-0900
Listed By:
Yousef Beydoun · License #6501354088
(313) 561-0900
Source:
Exprealty
Added: Jan 29
Changed: Aug 23
Last Checked: Aug 19 at 1:36PM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This turnkey restaurant is available for sale. The property, formerly a drive-thru, is fully equipped and situated on a half-acre lot. It features 240 feet of frontage, offering excellent visibility and ample parking. The location is on heavily traveled Fort Street, making it ideal for any restaurant operator seeking immediate exposure and a ready-to-go setup. The property size is 2140 square feet.
Key Highlights
- Fully Equipped Turnkey Restaurant ready for your vision.
- High‑Traffic Location on Fort St ensures consistent customer flow.
- Excellent Visibility with 240 FT of Frontage.
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
$27,734
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
5.60%
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%
$554,680
$554.7K
Cap Rate 7%
$396,200
$396.2K
Cap Rate 9%
$308,156
$308.2K
Market Conditions
NOI Build-Up for 2,140 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
$38.5K $18.00/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$37.0K $17.28/SF
− OpEx
−$9.2K −$4.32/SF
NOI
$27.7K $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%
$554,680
Cap Rate 7%
$396,200
Cap Rate 9%
$308,156
Alternative Uses
Best Use
Specialty Retail
$396.2K
$346.7K – $462.2K
NOI $27,734 @ 7.0% cap · market cap 5.60%
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
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
677
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 100%
Catherines
Apparel
677 visits/mo
0.5 miles
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 - Fully equipped restaurant with drive-thru and ample parking.
Where is this drive through restaurant located?
The property is located at 1297 Fort St Wyandotte, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Fully Equipped Turnkey Restaurant ready for your vision.; High‑Traffic Location on Fort St ensures consistent customer flow.; Excellent Visibility with 240 FT of Frontage.
