Restaurant Opportunity Near Huron
For Sale
Contact for pricing
22401 Huron River Dr, Rockwood, MI 48173
Existing restaurant with liquor license on 1.31 acres.
Property Size5,262 SF
Lot Size1.31 Acres
Price / SF$189.09
Days on Market196
Property Features for 22401 Huron River Dr
General Information
Standard status
Active
Size
5,262 SF
Lot size
1.31 Acres
Property subtype
Retail
Zoning
B-3
Occupancy
100%
Building Details
Year Built
1933
Tenancy
Single
Listing Agency:
Burger & Company
(248) 536-2888
Listed By:
Michael Rose · License #MI 6501308575
Source:
Crexi
Added: Feb 5
Changed: Aug 15
Last Checked: Aug 20 at 3:52PM
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 Burger & Company
Investment Insights
Based on property information with market context.
This commercial property features an existing restaurant on a 1.31-acre corner lot with access to the Huron River. The sale includes all furniture, fixtures, equipment, and a liquor license. Built in 1906, the property offers a piece of local history. It provides convenient access to I-75. The property is located within one mile of two boat launches on the Huron River. The building size is 5,262 square feet.
Key Highlights
- Turnkey restaurant opportunity with existing restaurant, furniture, fixtures, equipment, and liquor license included.
- 1.31 acres of commercial land with Huron River access.
- Corner lot location with access to I‑75.
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
$68,196
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
6.85%
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%
$1,363,920
$1.4M
Cap Rate 7%
$974,229
$974.2K
Cap Rate 9%
$757,733
$757.7K
Market Conditions
NOI Build-Up for 5,262 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
$94.7K $18.00/SF
− Vacancy
−$3.8K −$0.72/SF
EGI
$90.9K $17.28/SF
− OpEx
−$22.7K −$4.32/SF
NOI
$68.2K $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%
$1,363,920
Cap Rate 7%
$974,229
Cap Rate 9%
$757,733
Alternative Uses
Best Use
Specialty Retail
$974.2K
$852.5K – $1.14M
NOI $68,196 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
A&W Restaurant
Dining
6,116 visits/mo
0.3 miles
Demographics for 48173, MI
13,443
Population
5,391
Households
2.5
Avg Household Size
42
Median Age
24%
College-Educated
94%
High-School Grad
11.9 sq mi
ZIP Area
1,130
Density / Sq Mi
$90,510
Median Household Income
$55,163
Median Earnings
$1,130
Median Rent
$232,600
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant with liquor license on 1.31 acres.
Where is this conventional restaurant located?
The property is located at 22401 Huron River Dr Rockwood, MI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity with existing restaurant, furniture, fixtures, equipment, and liquor license included.; 1.31 acres of commercial land with Huron River access.; Corner lot location with access to I‑75.
