Bar and Grill with
For Sale
$549,000
220 SOUTHFIELD Road Unit SourceFi, Ecorse, MI 48229
Turnkey bar and grill includes an equipped kitchen, basement space, and a covered outdoor patio.
Property Size2,695 SF
Price / SF$203.71
Days on Market87
Property Features for 220 SOUTHFIELD Road Unit SourceFi
General Information
Standard status
Active
Size
2,695 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Liquor License
Yes
Multifamily Units
2
Amenities
3
Building Details
Year Built
19
Listing Agency:
(248) 885-7535
Listed By:
Nick Bazzy
(248) 885-7535
Source:
Xome
Added: May 29
Changed: Aug 23
Last Checked: Aug 22 at 4:34AM
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 for-sale property combines 220 and 218 Southfield Road, with 220 operating as a bar and grill. The offering includes a basement, an equipped kitchen with a grill and fryer, and a covered outdoor patio. The listing also notes a Class “C” liquor license included with the sale.
Upstairs at the property are 2 apartments that are currently rented. The address also includes 218 Southfield Road, which is described as a retail space available for lease.
The seller indicates the package includes both real estate and business interests, with land contract terms available. All data is approximate.
Upstairs at the property are 2 apartments that are currently rented. The address also includes 218 Southfield Road, which is described as a retail space available for lease.
The seller indicates the package includes both real estate and business interests, with land contract terms available. All data is approximate.
Key Highlights
- 220 and 218 Southfield Road offered for sale under land contract terms available
- 220 Southfield Road operates as a bar and grill with an equipped kitchen (grill and fryer) and basement space
- 218 Southfield Road is a retail space available for lease
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
6.36%
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 6.36%
Second Best
Retail
$364.8K
$319.2K – $425.6K
NOI $25,536 @ 7.0% cap · market cap 4.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Big O Cafe — 277 Southfield Rd, Ecorse, MI 48229
- Matthew Party Store Inc — 455 Southfield Rd, Lincoln Park, MI 48146
- Light House — 4474 W Jefferson Ave, Ecorse, MI 48229
- Trophies Bar and Grill — 337 Southfield Rd, Ecorse, MI 48229
- Dabrewski's Liquor Emporium — 220 Southfield Rd, Ecorse, MI 48229
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey bar and grill includes an equipped kitchen, basement space, and a covered outdoor patio.
Where is this bar & pub located?
The property is located at 220 SOUTHFIELD Road Unit SourceFi Ecorse, MI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 220 and 218 Southfield Road offered for sale under land contract terms available; 220 Southfield Road operates as a bar and grill with an equipped kitchen (grill and fryer) and basement space; 218 Southfield Road is a retail space available for lease
