Former Restaurant in Old
For Sale
$755,000
21640 Grand River Avenue, Redford, MI 48219
Restaurant with drive-thru, ideal for retail or medical use.
Property Size2,317 SF
Days on Market333
Property Features for 21640 Grand River Avenue
General Information
Standard status
Active
Size
2,317 SF
Property subtype
Retail - Street Retail
Building Details
Building Size
2,317 SF
Year Built
1988
Listing Agency:
SVN | Cohn Commercial Properties
Listed By:
Harry Cohn · License #07986251
(248) 818-0010
Source:
Commercialcafe
Added: Nov 25, 2025
Changed: Sep 11
Last Checked: Oct 23 at 3:54AM
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 SVN | Cohn Commercial Properties
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Investment Insights
Based on property information with market context.
Located in the heart of Old Redford, this property was formerly a McDonald's restaurant. The 2,317-square-foot building is suitable for retail or medical use. The drive-thru is still in operation.
Key Highlights
- Former McDonalds in the heart of Old Redford
- Drive thru still operates
- Ideal spot for retail use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,577
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,540
$611.5K
Cap Rate 7%
$436,814
$436.8K
Cap Rate 9%
$339,744
$339.7K
Market Conditions
NOI Build-Up for 2,317 SF
Gross rent
$43.1K $18.60/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$40.8K $17.60/SF
− OpEx
−$10.2K −$4.40/SF
NOI
$30.6K $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%
$611,540
Cap Rate 7%
$436,814
Cap Rate 9%
$339,744
Alternative Uses
Best Use
Specialty Retail
$436.8K
$382.2K – $509.6K
NOI $30,577 @ 7.0% cap · market cap 4.05%
Second Best
Retail
$407.7K
$356.7K – $475.6K
NOI $28,538 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$475.9K
$416.4K – $555.2K
NOI $33,313 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
133k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 55%
Shops & Services 29%
Dining 12%
Apparel 3%
Meijer
Groceries
73,288 visits/mo
0.3 miles
Dollar Tree
Shops & Services
14,060 visits/mo
0.3 miles
Wendy's
Dining
12,475 visits/mo
0.3 miles
Meijer Gas Station
Shops & Services
9,012 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,719 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Restaurant with drive-thru, ideal for retail or medical use.
Where is this drive through restaurant located?
The property is located at 21640 Grand River Avenue Redford, MI.
What is the asking price?
The asking price for this property is $755,000.
What are key features of this property?
This property features: Former McDonalds in the heart of Old Redford; Drive thru still operates; Ideal spot for retail use
