Fully Equipped Coney Island
1350 W Fort Street Detroit, MI 48226
For Sale
$699,000
Fully operational restaurant with extensive recent kitchen and HVAC upgrades on a major downtown-bound route.
Property Size2,429 SF
Price / SF$287.77
Days on Market78
Property Features for 1350 W Fort Street
General Information
Standard status
Active
Size
2,429 SF
Property subtype
Commercial
Lease Term
Cash, Conventional
Building Details
Year Built
1952
Listing Agency:
Summit Union Real Estate
(586) 404-3239
Listed By:
Nathaniel Korkis
(586) 404-3239
Source:
Sabudarealty
Added: May 13
Changed: Jul 28
Last Checked: Jul 28 at 5:33PM
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 Summit Union Real Estate
Investment Insights
Based on property information with market context.
Fully operational Detroit Riverfront Coney Island offering a turnkey setup for an owner-operator or investor. The property includes extensive recent upgrades, including a renovated kitchen, new commercial AC unit, new grill, walk-in cooler, freezer, and updated seating.
Located on a major high-traffic route feeding directly into downtown, across from the 24-hour Main Post Office and positioned directly across from the new Ralph C. Wilson Jr. Centennial Park. The area is described as one of Downtown Detroit’s fastest-growing corridors, near WCCC and Michigan Central Station, with surrounding new residential and mixed-use developments tied to the ongoing riverfront revitalization.
The sale includes both the business operation and the building, with the property noted as under the same ownership for 25+ years.
Located on a major high-traffic route feeding directly into downtown, across from the 24-hour Main Post Office and positioned directly across from the new Ralph C. Wilson Jr. Centennial Park. The area is described as one of Downtown Detroit’s fastest-growing corridors, near WCCC and Michigan Central Station, with surrounding new residential and mixed-use developments tied to the ongoing riverfront revitalization.
The sale includes both the business operation and the building, with the property noted as under the same ownership for 25+ years.
Key Highlights
- Fully operational Detroit restaurant on a major high‑traffic route feeding directly into downtown
- Year built 1952
- Extensive recent upgrades including a renovated kitchen and new commercial AC unit
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.2k | $18.60 |
| − Vacancy | −$2.4k | −$1.00 |
| EGI | $42.7k | $17.60 |
| − OpEx | −$10.7k | −$4.40 |
| NOI | $32.1k | $13.20 |
2,429 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$457.9K
$400.7K – $534.3K
NOI $32,055 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$535.8K
$468.9K – $625.2K
NOI $37,509 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully operational restaurant with extensive recent kitchen and HVAC upgrades on a major downtown-bound route.
Where is this conventional restaurant located?
The property is located at 1350 W Fort Street Detroit, MI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Fully operational Detroit restaurant on a major high‑traffic route feeding directly into downtown; Year built 1952; Extensive recent upgrades including a renovated kitchen and new commercial AC unit
