Restaurant Building at Hard
For Sale
$1,400,000
53100 Gratiot Ave, New Baltimore, MI 48051
Operating restaurant with furniture, fixtures, equipment, and licenses included.
Property Size3,813 SF
Days on Market73
Property Features for 53100 Gratiot Ave
General Information
Standard status
Active
Size
3,813 SF
Property subtype
Retail - Restaurant
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Building Details
Building Size
3,813 SF
Year Built
2005
Buildings
1
Listing Agency:
Coldwell Banker Commercial Premier
Listed By:
James Iodice · License #MI6406043228
(248) 225-7180
Source:
Commercialcafe
Added: Jul 26
Changed: Sep 30
Last Checked: Oct 5 at 3:03PM
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 Coldwell Banker Commercial Premier
Investment Insights
Based on property information with market context.
Located at 53100 Gratiot Ave in New Baltimore, the property includes a restaurant building constructed in 2005. The operation is active, and the sale includes furniture, fixtures, equipment, and required licenses. The building has been maintained and is configured for continued restaurant use.
The site occupies the corner of Gratiot Road and 24 Mile, with access from both roads. Its position provides frontage and exposure along a commercially developed corridor with regular traffic. The existing improvements can support continued restaurant operations, repurposing, or future redevelopment for retail or other commercial uses.
The site occupies the corner of Gratiot Road and 24 Mile, with access from both roads. Its position provides frontage and exposure along a commercially developed corridor with regular traffic. The existing improvements can support continued restaurant operations, repurposing, or future redevelopment for retail or other commercial uses.
Key Highlights
- Hard‑corner location at Gratiot Road and 24 Mile
- Access from both Gratiot Road and 24 Mile
- Furniture, fixtures, equipment, and required licenses included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,970
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,400
$999.4K
Cap Rate 7%
$713,857
$713.9K
Cap Rate 9%
$555,222
$555.2K
Market Conditions
NOI Build-Up for 3,813 SF
Gross rent
$75.5K $19.80/SF
− Vacancy
−$8.9K −$2.33/SF
EGI
$66.6K $17.47/SF
− OpEx
−$16.7K −$4.37/SF
NOI
$50.0K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,400
Cap Rate 7%
$713,857
Cap Rate 9%
$555,222
Alternative Uses
Best Use
Specialty Retail
$713.9K
$624.6K – $832.8K
NOI $49,970 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$402.7K
$352.3K – $469.8K
NOI $28,186 @ 7.0% cap · market cap 2.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
9,578 visits/mo
0.2 miles
Valvoline Instant Oil Change
Shops & Services
1,115 visits/mo
0.2 miles
Demographics for 48051, MI
17,718
Population
7,255
Households
2.4
Avg Household Size
40
Median Age
24%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
1,248
Density / Sq Mi
$89,923
Median Household Income
$50,569
Median Earnings
$1,064
Median Rent
$247,500
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 Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant with furniture, fixtures, equipment, and licenses included.
Where is this conventional restaurant located?
The property is located at 53100 Gratiot Ave New Baltimore, MI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Hard‑corner location at Gratiot Road and 24 Mile; Access from both Gratiot Road and 24 Mile; Furniture, fixtures, equipment, and required licenses included
