Renovated Drive-Through
For Sale
$399,900
17744 E 9 Mile Rd, Eastpointe, MI 48021
Updated commercial building includes restaurant equipment and a drive-through service area.
Property Size1,440 SF
Price / SF$277.71
Days on Market44
Property Features for 17744 E 9 Mile Rd
General Information
Standard status
Active
Size
1,440 SF
Zoning
B-3
Additional Details
Drive-Thru
Yes
Equipment Included
Yes
Building Details
Year Built
1940
Listing Agency:
Prestige Realty Group, LLC
(248) 688-2956
Listed By:
Bashar Kato
Source:
Katie-k
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 29 at 11:59AM
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 Prestige Realty Group, LLC
Investment Insights
Based on property information with market context.
This commercial restaurant property at 17744 E 9 Mile Road in Eastpointe has undergone a full renovation and includes a drive-through service area. Concrete surrounding the building has also been replaced, providing a refreshed exterior and functional site improvements. Restaurant equipment is included, supporting continued food-service use without requiring separate equipment procurement.
The property is positioned along E 9 Mile Road in Eastpointe, Michigan, with access to a commercial corridor. Built in 1940, the building is suited to restaurant operations and may also accommodate retail, café, office, or service-oriented uses identified for the site. The combination of updated improvements, drive-through functionality, and included equipment provides a practical setup for an operator seeking an established commercial building.
The property is positioned along E 9 Mile Road in Eastpointe, Michigan, with access to a commercial corridor. Built in 1940, the building is suited to restaurant operations and may also accommodate retail, café, office, or service-oriented uses identified for the site. The combination of updated improvements, drive-through functionality, and included equipment provides a practical setup for an operator seeking an established commercial building.
Key Highlights
- Full renovation completed
- Drive‑through service area included
- Restaurant equipment included in the sale
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
$18,871
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
4.72%
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%
$377,420
$377.4K
Cap Rate 7%
$269,586
$269.6K
Cap Rate 9%
$209,678
$209.7K
Market Conditions
NOI Build-Up for 1,440 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
$28.5K $19.80/SF
− Vacancy
−$3.4K −$2.33/SF
EGI
$25.2K $17.47/SF
− OpEx
−$6.3K −$4.37/SF
NOI
$18.9K $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 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%
$377,420
Cap Rate 7%
$269,586
Cap Rate 9%
$209,678
Alternative Uses
Best Use
Specialty Retail
$269.6K
$235.9K – $314.5K
NOI $18,871 @ 7.0% cap · market cap 4.72%
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
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 48021, MI
34,244
Population
14,124
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,715
Density / Sq Mi
$58,196
Median Household Income
$35,836
Median Earnings
$1,335
Median Rent
$129,100
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 - Updated commercial building includes restaurant equipment and a drive-through service area.
Where is this drive through restaurant located?
The property is located at 17744 E 9 Mile Rd Eastpointe, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Full renovation completed; Drive‑through service area included; Restaurant equipment included in the sale
