Prime Restaurant Real Estate Downtown
For Sale
$1,100,000
1744 Biddle, Wyandotte, MI 48912
Restaurant property in the heart of historic Downtown Wyandotte.
Property Size5,337 SF
Days on Market157
Property Features for 1744 Biddle
General Information
Standard status
Active
Size
5,337 SF
Total Parking Spaces
40
Property subtype
Retail
Zoning
B2
Building Details
Building Size
5,337 SF
Year Built
1994
Stories
1
Listing Agency:
(248) 225-7180
Listed By:
Jamie Iodice
(248) 225-7180
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 8 at 1:27PM
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 Jamie Iodice
Investment Insights
Based on property information with market context.
This offering presents an opportunity to acquire a fully integrated restaurant and real estate asset situated in the core of historic Downtown Wyandotte. The property features approximately 180 feet of prominent frontage along Biddle Avenue. It is within immediate walking distance of the waterfront and surrounding retail, dining, and civic attractions. The location is moments from the Detroit River and Bishop Park, offering a blend of natural beauty and urban amenities. Nearby attractions include the Wyandotte Museums, downtown shops, and notable dining spots.
Key Highlights
- Fully integrated restaurant and real estate asset.
- Prime location in the core of historic Downtown Wyandotte.
- Approximately 180 feet of prominent frontage along Biddle Avenue.
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
$69,168
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
6.29%
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%
$1,383,360
$1.4M
Cap Rate 7%
$988,114
$988.1K
Cap Rate 9%
$768,533
$768.5K
Market Conditions
NOI Build-Up for 5,337 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
$96.1K $18.00/SF
− Vacancy
−$3.8K −$0.72/SF
EGI
$92.2K $17.28/SF
− OpEx
−$23.1K −$4.32/SF
NOI
$69.2K $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%
$1,383,360
Cap Rate 7%
$988,114
Cap Rate 9%
$768,533
Alternative Uses
Best Use
Specialty Retail
$988.1K
$864.6K – $1.15M
NOI $69,168 @ 7.0% cap · market cap 6.29%
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
647
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48912, MI
17,155
Population
9,064
Households
1.9
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
3,299
Density / Sq Mi
$53,072
Median Household Income
$34,598
Median Earnings
$1,037
Median Rent
$139,900
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.
Similar Off Market Nearby
- Elmer's Rustic Steak Pit Halls — 606 Goddard Rd, Wyandotte, MI 48192
- G Philip's Catering — 1 st john st, wyandotte, mi 48192
- Frank n Dean's Catering — 976 Pope John Paul II Ave, Wyandotte, MI 48192
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant property in the heart of historic Downtown Wyandotte.
Where is this restaurant located?
The property is located at 1744 Biddle Wyandotte, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully integrated restaurant and real estate asset.; Prime location in the core of historic Downtown Wyandotte.; Approximately 180 feet of prominent frontage along Biddle Avenue.
