Operating Food
For Sale
$89,999
22271 W Village Drive, Dearborn, MI 48124
Mobile restaurant positioned at Peace Park in Downtown West Dearborn, near restaurants, shopping, and community events.
Property Size200 SF
Price / SF$449
Days on Market24
Property Features for 22271 W Village Drive
General Information
Standard status
Active
Size
200 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Amenities
3
200200
Building Details
Year Built
20
Listing Agency:
Empire Realty Fawaz & Arzouni
(313) 694-8289
Listed By:
Malek Harajli
(313) 694-8289
Source:
Xome
Added: Jul 29
Changed: Aug 16
Last Checked: Aug 21 at 4:42AM
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 Empire Realty Fawaz & Arzouni
Investment Insights
Based on property information with market context.
This operating food trailer is located at 22271 W Village Drive in Dearborn, Michigan. The asset is positioned within Peace Park in Downtown West Dearborn and serves as a mobile restaurant business rather than a conventional fixed-site building.
The surrounding setting includes restaurants, shopping, and community events, with pedestrian activity described throughout the day and during local gatherings. Its placement within the park and nearby commercial environment provides an established setting for continued food-service operations.
The surrounding setting includes restaurants, shopping, and community events, with pedestrian activity described throughout the day and during local gatherings. Its placement within the park and nearby commercial environment provides an established setting for continued food-service operations.
Key Highlights
- Operating food trailer business at 22271 W Village Drive, Dearborn, MI 48124
- Located within Peace Park in Downtown West Dearborn
- Surrounded by restaurants, shopping, and community events
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
$2,736
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
3.04%
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%
$54,720
$54.7K
Cap Rate 7%
$39,086
$39.1K
Cap Rate 9%
$30,400
$30.4K
Market Conditions
NOI Build-Up for 200 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
$3.8K $19.20/SF
− Vacancy
−$192 −$0.96/SF
EGI
$3.6K $18.24/SF
− OpEx
−$912 −$4.56/SF
NOI
$2.7K $13.68/SF
Area
Dearborn, MI
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%
$54,720
Cap Rate 7%
$39,086
Cap Rate 9%
$30,400
Alternative Uses
Best Use
Specialty Retail
$39.1K
$34.2K – $45.6K
NOI $2,736 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$44.1K
$38.6K – $51.5K
NOI $3,088 @ 7.0% cap · market cap 3.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,493
Businesses Nearby
157k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 29%
Home Improvements & Furnishings 11%
Apparel 10%
Buffalo Wild Wings
Dining
18,533 visits/mo
0.0 miles
Buddy's Pizza
Dining
15,252 visits/mo
0.1 miles
Mobil
Shops & Services
12,157 visits/mo
0.3 miles
Comerica Bank
Shops & Services
11,306 visits/mo
0.1 miles
Harbor Freight Tools
Home Improvements & Furnishings
10,799 visits/mo
0.3 miles
Demographics for 48124, MI
34,134
Population
14,787
Households
2.3
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
3,879
Density / Sq Mi
$78,353
Median Household Income
$49,103
Median Earnings
$1,280
Median Rent
$192,100
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?
Conventional restaurant - Mobile restaurant positioned at Peace Park in Downtown West Dearborn, near restaurants, shopping, and community events.
Where is this conventional restaurant located?
The property is located at 22271 W Village Drive Dearborn, MI.
What is the asking price?
The asking price for this property is $89,999.
What are key features of this property?
This property features: Operating food trailer business at 22271 W Village Drive, Dearborn, MI 48124; Located within Peace Park in Downtown West Dearborn; Surrounded by restaurants, shopping, and community events
