Turnkey Drive-Through
For Sale
$410,000
20804 Plymouth Road, Detroit, MI 48228
Bright dining room with LED lighting, seating for 68, and a drive-thru, plus included kitchen equipment.
Property Size2,308 SF
Price / SF$177.64
Days on Market330
Property Features for 20804 Plymouth Road
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Commercial
Lease Term
Cash, Conventional
Additional Details
Business Included
Yes
Commercial Hood
Yes
Amenities
drive-thru
LED lighting
Building Details
Building Size
2,308 SF
Year Built
1968
Listing Agency:
Van Esley Real Estate Inc
(734) 459-7570
Listed By:
David D Misko · License #6501351778
(734) 459-7570
Source:
Sabudarealty
Added: Sep 17, 2025
Changed: Jul 26
Last Checked: Aug 11 at 1:41PM
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 Inc
Investment Insights
Based on property information with market context.
Successful, turn-key restaurant for sale, operating as Mary’s Grill, with a bright dining room featuring LED lighting and seating for 68. The property includes a drive-thru and is open 7 days a week.
The kitchen includes major cooking equipment such as a grill, fryers, stove top and oven, along with walk-in cooler and walk-in refrigerator. Hood systems include 11' in front and an additional 5' in the back kitchen, and all equipment is included with the sale.
Please note that all information is estimated and should be verified. Do not speak to employees.
The kitchen includes major cooking equipment such as a grill, fryers, stove top and oven, along with walk-in cooler and walk-in refrigerator. Hood systems include 11' in front and an additional 5' in the back kitchen, and all equipment is included with the sale.
Please note that all information is estimated and should be verified. Do not speak to employees.
Key Highlights
- Bright dining room with LED lighting and seating for 68
- Drive‑thru available
- All restaurant equipment included (grill, fryers, stove top and oven)
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
7.70%
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 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$474.1K
$414.8K – $553.1K
NOI $33,184 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Electronics 11%
Citgo
Shops & Services
4,331 visits/mo
0.1 miles
AutoZone
Shops & Services
3,432 visits/mo
0.2 miles
Sunoco
Shops & Services
2,592 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
1,322 visits/mo
0.2 miles
Maaco
Shops & Services
572 visits/mo
0.1 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
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 - Bright dining room with LED lighting, seating for 68, and a drive-thru, plus included kitchen equipment.
Where is this conventional restaurant located?
The property is located at 20804 Plymouth Road Detroit, MI.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Bright dining room with LED lighting and seating for 68; Drive‑thru available; All restaurant equipment included (grill, fryers, stove top and oven)
