Mixed-Use Property with Bar and
For Sale
$525,000
220 SOUTHFIELD RD, Ecorse, MI 48229
Includes a bar and grill, retail space, two upstairs apartments, and a covered outdoor patio.
Property Size2,695 SF
Price / SF$194.81
Days on Market104
Property Features for 220 SOUTHFIELD RD
General Information
Standard status
Active
Size
2,695 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Liquor License
Yes
Multifamily Units
2
Amenities
Covered outdoor patio
3
Building Details
Tenancy
Multi
Listed By:
Nick Bazzy
(248) 885-7535
Source:
Xome
Added: May 30
Changed: Sep 9
Last Checked: Sep 9 at 3:36PM
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 Nick Bazzy
Investment Insights
Based on property information with market context.
This mixed-use property includes two adjoining addresses, 220 and 218 Southfield Road. The 220 address contains a bar and grill with a basement, an equipped kitchen featuring a grill and fryer, and a covered outdoor patio. The 218 address provides retail space available for lease. Two upstairs apartments are currently rented, adding residential use to the property’s commercial components.
The sale includes the real estate and business, along with a Class C liquor license. The property size is reported as 2,695, and the source data identifies three interior features.
The sale includes the real estate and business, along with a Class C liquor license. The property size is reported as 2,695, and the source data identifies three interior features.
Key Highlights
- Bar and grill with basement at 220 Southfield Road
- Retail space available for lease at 218 Southfield Road
- Two upstairs apartments currently rented
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
$34,927
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
6.65%
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%
$698,540
$698.5K
Cap Rate 7%
$498,957
$499.0K
Cap Rate 9%
$388,078
$388.1K
Market Conditions
NOI Build-Up for 2,695 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
$48.5K $18.00/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$46.6K $17.28/SF
− OpEx
−$11.6K −$4.32/SF
NOI
$34.9K $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%
$698,540
Cap Rate 7%
$498,957
Cap Rate 9%
$388,078
Alternative Uses
Best Use
Specialty Retail
$499.0K
$436.6K – $582.1K
NOI $34,927 @ 7.0% cap · market cap 6.65%
Second Best
Mixed Use
$457.4K
$400.2K – $533.6K
NOI $32,017 @ 7.0% cap · market cap 6.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 47%
Family Dollar
Shops & Services
4,959 visits/mo
0.2 miles
KFC
Dining
4,445 visits/mo
0.4 miles
Demographics for 48229, MI
9,258
Population
4,156
Households
2.2
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
2.8 sq mi
ZIP Area
3,306
Density / Sq Mi
$45,148
Median Household Income
$33,815
Median Earnings
$879
Median Rent
$59,300
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a bar and grill, retail space, two upstairs apartments, and a covered outdoor patio.
Where is this mixed-use property located?
The property is located at 220 SOUTHFIELD RD Ecorse, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Bar and grill with basement at 220 Southfield Road; Retail space available for lease at 218 Southfield Road; Two upstairs apartments currently rented
