Turnkey Restaurant Opportunity on
20050 Livernois Detroit, MI 48221
20050 Livernois, Detroit, MI, 48221
Contact for pricing
For Sale
Contact for pricing
Pending
Prime restaurant property on Detroit's Avenue of Fashion.
Property Size4,000 SF
Days on Market649
Property Features for 20050 Livernois
General Information
- Standard status
- Pending
- Size
- 4,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1959
Listing agency
Encore Real Estate Investment Services
Listed by
Kishon Harbert · License #MI 6501402939
Source
Crexi
Added: Oct 12, 2024 Updated: Jul 10 at 11:19AM Checked: Jul 21 at 9:45AM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
Located on the Avenue of Fashion, the property at 20050 Livernois offers 4,000 square feet of space, including an enclosed patio. The single-story building is ideally suited for a turnkey restaurant. The Avenue of Fashion, situated on Livernois between 7 Mile and 8 Mile, is known as one of the largest shopping districts of Black-owned businesses in the United States. The building features a mural that reads "Black Dollars Matter". The property, with its spacious dining area and patio, offers significant potential in an area known for its rich cultural scene and Black-owned businesses. The Avenue of Fashion has historic significance, featuring over 100 storefronts and attracting both locals and tourists.
Key Highlights
- Turnkey restaurant opportunity due to existing buildout.
- Located on the Avenue of Fashion, a prominent shopping district for Black‑owned businesses.
- Spacious 4,000 sq ft property (including enclosed patio).
Local 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 | $74.4k | $18.60 |
| − Vacancy | −$4.0k | −$1.00 |
| EGI | $70.4k | $17.60 |
| − OpEx | −$17.6k | −$4.40 |
| NOI | $52.8k | $13.20 |
4,000 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$754.1K
$659.8K – $879.8K
NOI $52,787 @ 7.0% cap · market cap 3.20%
Second Best
Retail
$703.8K
$615.9K – $821.1K
NOI $49,268 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$882.4K
$772.1K – $1.03M
NOI $61,769 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Petty Cash
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Prime restaurant property on Detroit's Avenue of Fashion.
Where is this conventional restaurant located?
The property is located at 20050 Livernois Detroit, MI.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity due to existing buildout.; Located on the Avenue of Fashion, a prominent shopping district for Black‑owned businesses.; Spacious 4,000 sq ft property (including enclosed patio).
