Diner
For Sale
$299,900
1861 E 9 Mile Rd, Ferndale, MI 48220
The restaurant business and equipment may be negotiated separately from the building.
Property Size1,383 SF
Days on Market8
Property Features for 1861 E 9 Mile Rd
General Information
Standard status
Active
Size
1,383 SF
Property subtype
Commercial
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,550
Building Details
Building Size
1,383 SF
Year Built
1954
Listing Agency:
Coldwell Banker Professionals
Listed By:
Maria Kopicki · License #6501419074
(248) 644-6300
Source:
Elliman
Added: Oct 24
Changed: Oct 30
Last Checked: Oct 30 at 4:14PM
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 Professionals
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1861 E 9 Mile Rd in Ferndale, this 1954 building is currently operating as Earl’s Diner. The offering is for the building; the restaurant business is leased and may be negotiated separately. Equipment may also be available through separate negotiations.
The property has a Walk Score of 83 and a Bike Score of 58.
The property has a Walk Score of 83 and a Bike Score of 58.
Key Highlights
- Built in 1954
- Currently operating as Earl’s Diner
- Building offered separately; restaurant business is leased and may be negotiated separately
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,881
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,620
$417.6K
Cap Rate 7%
$298,300
$298.3K
Cap Rate 9%
$232,011
$232.0K
Market Conditions
NOI Build-Up for 1,383 SF
Gross rent
$29.9K $21.60/SF
− Vacancy
−$2.0K −$1.47/SF
EGI
$27.8K $20.13/SF
− OpEx
−$7.0K −$5.03/SF
NOI
$20.9K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,620
Cap Rate 7%
$298,300
Cap Rate 9%
$232,011
Alternative Uses
Best Use
Specialty Retail
$298.3K
$261.0K – $348.0K
NOI $20,881 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
144k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 20%
Beauty & Spa 2%
Electronics 2%
McDonald's
Dining
22,302 visits/mo
0.1 miles
Wendy's
Dining
20,467 visits/mo
0.2 miles
Pizza Hut
Dining
13,458 visits/mo
0.5 miles
Taco Bell
Dining
10,104 visits/mo
0.4 miles
Mobil
Shops & Services
9,934 visits/mo
0.2 miles
Demographics for 48220, MI
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,901
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
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
Similar Off Market Nearby
- Tian Brunch Restaurant — 601 e 9 mile rd #2, ferndale, mi 48220
- Omega Hawg & Dawg Deli — 2100 Hilton Rd, Ferndale, MI 48220
Frequently Asked Questions
What type of property is this?
Breakfast & diner - The restaurant business and equipment may be negotiated separately from the building.
Where is this breakfast & diner located?
The property is located at 1861 E 9 Mile Rd Ferndale, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Built in 1954; Currently operating as Earl’s Diner; Building offered separately; restaurant business is leased and may be negotiated separately
