Turn Key Restaurant For
For Sale
$365,000
20804 Plymouth Rd, Detroit, MI 48228
Successful restaurant with drive-thru, equipment included, ready for new owners.
Property Size2,308 SF
Price / SF$158.15
Days on Market360
Property Features for 20804 Plymouth Rd
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Retail
Zoning
B4
Building Details
Building Size
2,308 SF
Year Built
1968
Buildings
1
Stories
1
Listing Agency:
Van Esley Real Estate
Listed By:
Joseph Van Esley · License #6501185636
(313) 418-3188
Source:
Cpix.resimplifi
Added: Sep 18, 2025
Changed: Sep 5
Last Checked: Sep 12 at 3:36AM
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 Van Esley Real Estate
Investment Insights
Based on property information with market context.
A successful turn-key restaurant, known as Mary's Grill, is available for sale. The property is a conventional restaurant, ready for new owners. The dining room is illuminated with LED lighting and provides seating for 68 patrons. The restaurant includes a drive-thru. It currently operates 7 days a week. All equipment is included in the sale. The kitchen is equipped with 11 feet of hoods in the front and an additional 5 feet in the back. Cooking equipment includes a grill, fryers, stove top, and oven. The property also features a walk-in cooler and a walk-in refrigerator. The building size is 2308 square feet.
Key Highlights
- Turn‑key restaurant ready for new owners (Mary's Grill).
- Includes all equipment: grill, fryers, stove top, oven, walk‑in cooler and refrigerator.
- Convenient drive‑thru.
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
$31,573
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
8.65%
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%
$631,460
$631.5K
Cap Rate 7%
$451,043
$451.0K
Cap Rate 9%
$350,811
$350.8K
Market Conditions
NOI Build-Up for 2,308 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
$44.3K $19.20/SF
− Vacancy
−$2.2K −$0.96/SF
EGI
$42.1K $18.24/SF
− OpEx
−$10.5K −$4.56/SF
NOI
$31.6K $13.68/SF
Area
ZIP 48228
Vacancy
5.00%
Lease Rate
$19.20 /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%
$631,460
Cap Rate 7%
$451,043
Cap Rate 9%
$350,811
Alternative Uses
Best Use
Specialty Retail
$451.0K
$394.7K – $526.2K
NOI $31,573 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$474.1K
$414.8K – $553.1K
NOI $33,184 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
10k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
5,146 visits/mo
0.0 miles
Comerica Bank
Shops & Services
4,716 visits/mo
0.3 miles
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
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 Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Successful restaurant with drive-thru, equipment included, ready for new owners.
Where is this conventional restaurant located?
The property is located at 20804 Plymouth Rd Detroit, MI.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Turn‑key restaurant ready for new owners (Mary's Grill).; Includes all equipment: grill, fryers, stove top, oven, walk‑in cooler and refrigerator.; Convenient drive‑thru.
