Golf Course with Clubhouse and
For Sale
$2,199,000
20820 Inkster Road, Romulus, MI 48174
Approximately 117 acres in Romulus featuring an existing golf course, clubhouse, and on-site restaurant.
Property Size5,000 SF
Lot Size117.00 Acres
Days on Market16
Property Features for 20820 Inkster Road
General Information
Standard status
Active
Size
5,000 SF
Lot size
117.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$23,461
Amenities
golf course
clubhouse
on-site restaurant
residential lots
Building Details
Building Size
5,000 SF
Year Built
1965
Buildings
2
Stories
8100
Listing Agency:
Resource Realty Group
(734) 223-1015
Listed By:
Andrea Gotcher
(734) 223-1015
Source:
Thebrokeragehouse
Added: Jul 25
Changed: Aug 8
Last Checked: Aug 8 at 11:56AM
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 Resource Realty Group
Investment Insights
Based on property information with market context.
Woodside Meadows at 20820 Inkster Road offers approximately 117 acres in Romulus with an existing golf course, plus a clubhouse and on-site restaurant for immediate use. The property is described as a clean, flexible play, with the option to keep the course operating, improve the concept, or reposition the land for future redevelopment.
The offering also includes seven residential lots. The site provides quick regional connectivity with access to I-94, I-275, and US-24, and is approximately 10 minutes to DTW. No seller financing is available.
This is a large-format sports and entertainment property package combining operating amenities with additional residential lots, providing multiple paths for a buyer to evaluate based on their intended use.
The offering also includes seven residential lots. The site provides quick regional connectivity with access to I-94, I-275, and US-24, and is approximately 10 minutes to DTW. No seller financing is available.
This is a large-format sports and entertainment property package combining operating amenities with additional residential lots, providing multiple paths for a buyer to evaluate based on their intended use.
Key Highlights
- Approximately 117 acres in Romulus, MI with an existing golf course
- Includes a clubhouse and an on‑site restaurant
- Offering includes seven residential lots
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
$64,800
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
2.95%
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%
$1,296,000
$1.3M
Cap Rate 7%
$925,714
$925.7K
Cap Rate 9%
$720,000
$720.0K
Market Conditions
NOI Build-Up for 5,000 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
$90.0K $18.00/SF
− Vacancy
−$3.6K −$0.72/SF
EGI
$86.4K $17.28/SF
− OpEx
−$21.6K −$4.32/SF
NOI
$64.8K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /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%
$1,296,000
Cap Rate 7%
$925,714
Cap Rate 9%
$720,000
Alternative Uses
Best Use
Specialty Retail
$925.7K
$810.0K – $1.08M
NOI $64,800 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 48174, MI
33,683
Population
13,124
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
89%
High-School Grad
40.8 sq mi
ZIP Area
826
Density / Sq Mi
$65,675
Median Household Income
$41,186
Median Earnings
$1,053
Median Rent
$151,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Golf course & driving range - Approximately 117 acres in Romulus featuring an existing golf course, clubhouse, and on-site restaurant.
Where is this golf course & driving range located?
The property is located at 20820 Inkster Road Romulus, MI.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Approximately 117 acres in Romulus, MI with an existing golf course; Includes a clubhouse and an on‑site restaurant; Offering includes seven residential lots
