Freestanding Drive-Through
For Sale
$900,000
2100 Orchard Lake Rd, Sylvan Lake, MI 48320
C1-zoned restaurant property includes a drive-through and pylon signage.
Property Size2,598 SF
Price / SF$346.42
Days on Market1014
Property Features for 2100 Orchard Lake Rd
General Information
Standard status
Active
Size
2,598 SF
Total Parking Spaces
30
Property subtype
Retail
Zoning
C1
Site & Location
Drive-Thru
Yes
Pylon Signage
Yes
Building Details
Building Size
2,598 SF
Year Built
1994
Buildings
1
Stories
1
Listing Agency:
Mid America Real Estate - Michigan Inc
(248) 855-6800
Listed By:
Jared Gell
(248) 855-6800
Source:
Cpix.resimplifi
Added: Nov 21, 2023
Changed: Aug 30
Last Checked: Aug 30 at 3:42AM
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 Mid America Real Estate - Michigan Inc
Investment Insights
Based on property information with market context.
This freestanding restaurant building contains 2,598 SF and was built in 1994. The property formerly operated as a fast-food restaurant and includes a drive-through, pylon signage, and 30 parking spaces. C1 zoning supports its established restaurant-oriented commercial profile.
The building is positioned on Orchard Lake Road in Sylvan Lake, between Telegraph Road and Middlebelt Road. Other commercial occupants along the corridor include The Home Depot, CVS, Wendy's, and McDonald's, providing an established retail and restaurant setting.
The building is positioned on Orchard Lake Road in Sylvan Lake, between Telegraph Road and Middlebelt Road. Other commercial occupants along the corridor include The Home Depot, CVS, Wendy's, and McDonald's, providing an established retail and restaurant setting.
Key Highlights
- 2,598 SF freestanding building constructed in 1994
- Drive‑through component and pylon signage included
- 30 parking spaces on site
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
$39,226
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
4.36%
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%
$784,520
$784.5K
Cap Rate 7%
$560,371
$560.4K
Cap Rate 9%
$435,844
$435.8K
Market Conditions
NOI Build-Up for 2,598 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
$56.1K $21.60/SF
− Vacancy
−$3.8K −$1.47/SF
EGI
$52.3K $20.13/SF
− OpEx
−$13.1K −$5.03/SF
NOI
$39.2K $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 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%
$784,520
Cap Rate 7%
$560,371
Cap Rate 9%
$435,844
Alternative Uses
Best Use
Specialty Retail
$560.4K
$490.3K – $653.8K
NOI $39,226 @ 7.0% cap · market cap 4.36%
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
422
Businesses Nearby
47k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 37%
McDonald's
Dining
17,625 visits/mo
0.1 miles
Taco Bell
Dining
10,213 visits/mo
0.1 miles
Exxon
Shops & Services
6,377 visits/mo
0.5 miles
Mobil
Shops & Services
5,424 visits/mo
0.3 miles
Shell
Shops & Services
3,624 visits/mo
0.2 miles
Demographics for 48320, MI
4,328
Population
2,269
Households
1.9
Avg Household Size
45
Median Age
48%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
3,935
Density / Sq Mi
$77,700
Median Household Income
$45,978
Median Earnings
$1,153
Median Rent
$317,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - C1-zoned restaurant property includes a drive-through and pylon signage.
Where is this drive through restaurant located?
The property is located at 2100 Orchard Lake Rd Sylvan Lake, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,598 SF freestanding building constructed in 1994; Drive‑through component and pylon signage included; 30 parking spaces on site
