Detroit Entertainment Venue with
For Sale
$2,495,000
20771 Eight Mile W, Detroit, MI 48219
Turnkey entertainment venue with licenses on Detroit's Eight Mile.
Property Size8,736 SF
Lot Size0.91 Acres
Price / SF$285.60
Days on Market193
Property Features for 20771 Eight Mile W
General Information
Standard status
Active
Size
8,736 SF
Lot size
0.91 Acres
Property subtype
Retail
Building Details
Building Size
8,736 SF
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Brandon Kassab · License #6501390606
(248) 702-0292
Source:
Cpix.resimplifi
Added: Mar 30
Changed: Sep 11
Last Checked: Oct 7 at 8:27AM
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 Detroit’s Eight Mile Road, this former adult entertainment venue presents a turnkey opportunity, including both a Liquor License and a Cabaret License. The two-story building offers approximately 8,736 square feet of space and is fully built out with premium improvements. These include a state-of-the-art sound and lighting system, hidden in-wall bar coolers, kitchen equipment, seating, tables, and bar stools. The seller invested roughly $400,000 in interior upgrades, enhancing the bars and booths, and installing new TVs after acquiring the property in 2020. The property also includes two lots totaling 0.91 acres with approximately 575 feet of frontage, providing ample parking. Situated along W. Eight Mile Road, the location benefits from high-traffic visibility, with over 63,500 vehicles per day. The property is positioned in a revitalizing corridor, offering strong potential for transformation. The surrounding area has robust demographics, with more than 117,200 residents within 3 miles and over 327,500 within 5 miles. The space is ideal for a nightclub, upscale private event space, banquet hall, or private party venue. The property is perfect for entertainment, nightlife, or hospitality uses.
Key Highlights
- Liquor License and Cabaret License included in the sale.
- Turnkey opportunity with existing infrastructure: sound/lighting, bar coolers, kitchen equipment, seating.
- Prime location on Eight Mile Road with high traffic visibility (63,500 vehicles per day).**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,286
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,305,720
$2.3M
Cap Rate 7%
$1,646,943
$1.6M
Cap Rate 9%
$1,280,956
$1.3M
Market Conditions
NOI Build-Up for 8,736 SF
Gross rent
$162.5K $18.60/SF
− Vacancy
−$8.8K −$1.00/SF
EGI
$153.7K $17.60/SF
− OpEx
−$38.4K −$4.40/SF
NOI
$115.3K $13.20/SF
Area
ZIP 48219
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 Rate 5%
$2,305,720
Cap Rate 7%
$1,646,943
Cap Rate 9%
$1,280,956
Alternative Uses
Best Use
Specialty Retail
$1.65M
$1.44M – $1.92M
NOI $115,286 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,604 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48219, MI
46,811
Population
20,815
Households
2.2
Avg Household Size
37
Median Age
13%
College-Educated
87%
High-School Grad
8.4 sq mi
ZIP Area
5,573
Density / Sq Mi
$43,882
Median Household Income
$31,187
Median Earnings
$1,037
Median Rent
$84,500
Median Home Value
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Similar Off Market Nearby
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- Elysium Gentlemen's Club — 20771 Eight Mile Rd, Detroit, MI 48219
- Plum Hollow Country Club — 21631 Lahser Rd, Southfield, MI 48033
Frequently Asked Questions
What type of property is this?
Night club - Turnkey entertainment venue with licenses on Detroit's Eight Mile.
Where is this night club located?
The property is located at 20771 Eight Mile W Detroit, MI.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Liquor License and Cabaret License included in the sale.; Turnkey opportunity with existing infrastructure: sound/lighting, bar coolers, kitchen equipment, seating.; Prime location on Eight Mile Road with high traffic visibility (63,500 vehicles per day).**
