Turnkey Texas Style Smokehouse
For Sale
Contact for pricing
Pending
18035 Conant, Detroit, MI 48234
Fully outfitted Texas style smokehouse, ready to serve.
Property Size983 SF
Days on Market302
Property Features for 18035 Conant
General Information
Standard status
Pending
Size
983 SF
Property subtype
Retail
Zoning
Commercial
Building Details
Year Built
1972
Year Renovated
2025
Stories
1
Listing Agency:
RE/MAX First - City Real Estate Team
Listed By:
Rob Funk · License #112525
Source:
Crexi
Added: Oct 24, 2025
Changed: Aug 13
Last Checked: Aug 19 at 8:38PM
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 RE/MAX First - City Real Estate Team
Investment Insights
Based on property information with market context.
This is a turnkey Texas style carry out smokehouse barbecue operation, fully outfitted and ready to serve. The 983 square foot establishment has been completely upgraded. It is suited for an owner/operator or investor looking for a premium, ready to go, barbecue business. Upgrades include two new professional smokers, new refrigeration, freezer and HVAC system, a security system with iron curtain protection and shades, a new commercial ice machine, a new condiment bar and two new refrigerators, two new deep fryers plus three existing fryers, a new food warmer, and a complete set of kitchen tools and utensils. Additional features include new fencing around the smokehouse, a freshly paved parking lot, and professional curb appeal. The equipment represents a major value with tens of thousands invested in recent upgrades. This property is located in Detroit, MI.
Key Highlights
- Turnkey Texas‑style smokehouse BBQ operation, fully outfitted and ready to serve.
- Two brand new professional smokers ($35,000 each).
- Completely upgraded with new refrigeration, freezer, and HVAC system.
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
$12,972
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
6.18%
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%
$259,440
$259.4K
Cap Rate 7%
$185,314
$185.3K
Cap Rate 9%
$144,133
$144.1K
Market Conditions
NOI Build-Up for 983 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
$18.3K $18.60/SF
− Vacancy
−$987 −$1.00/SF
EGI
$17.3K $17.60/SF
− OpEx
−$4.3K −$4.40/SF
NOI
$13.0K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$259,440
Cap Rate 7%
$185,314
Cap Rate 9%
$144,133
Alternative Uses
Best Use
Specialty Retail
$185.3K
$162.2K – $216.2K
NOI $12,972 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$216.9K
$189.8K – $253.0K
NOI $15,180 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
4,261 visits/mo
0.1 miles
Demographics for 48234, MI
31,442
Population
15,688
Households
2
Avg Household Size
36
Median Age
11%
College-Educated
84%
High-School Grad
7.8 sq mi
ZIP Area
4,031
Density / Sq Mi
$36,473
Median Household Income
$31,587
Median Earnings
$965
Median Rent
$57,100
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully outfitted Texas style smokehouse, ready to serve.
Where is this conventional restaurant located?
The property is located at 18035 Conant Detroit, MI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Turnkey Texas‑style smokehouse BBQ operation, fully outfitted and ready to serve.; Two brand new professional smokers ($35,000 each).; Completely upgraded with new refrigeration, freezer, and HVAC system.
