Turnkey Restaurant and Retail
For Sale
Contact for pricing
22402-22426 Van Born Rd, Dearborn Heights, MI 48125
Well-maintained retail building with restaurant and tenant-occupied suite.
Property Size5,300 SF
Price / SF$207.55
Days on Market373
Property Features for 22402-22426 Van Born Rd
General Information
Standard status
Active
Size
5,300 SF
Total Parking Spaces
38
Property subtype
Retail
Zoning
C-3 Commercial
Investment Type
Owner/User
Building Details
Year Built
1990
Year Renovated
2021
Stories
1
Tenancy
Multi
Listing Agency:
Thomas Duke Company
(248) 479-0130
Listed By:
Frank Rakipi · License #MI 6502366400
Source:
Crexi
Added: Aug 14, 2025
Changed: Aug 16
Last Checked: Aug 21 at 4:24AM
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 Thomas Duke Company
Investment Insights
Based on property information with market context.
This well-maintained retail building features two suites. One suite is currently leased, while the other is a fully built-out, owner-operated restaurant. The turnkey restaurant is available with a liquor license, FF&E, and capital equipment. Recent upgrades to the property include a new roof and parking lot. The property is situated on the North side of Van Born Rd, just east of Telegraph. The building has a total size of 5,300 square feet and presents an opportunity for an owner-user or investor.
Key Highlights
- Turnkey restaurant opportunity with liquor license, FF&E, and capital equipment included.
- Two‑suite retail building with one suite already leased.
- Opportunity for owner‑user or investor.
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
$68,688
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
6.24%
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%
$1,373,760
$1.4M
Cap Rate 7%
$981,257
$981.3K
Cap Rate 9%
$763,200
$763.2K
Market Conditions
NOI Build-Up for 5,300 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
$95.4K $18.00/SF
− Vacancy
−$3.8K −$0.72/SF
EGI
$91.6K $17.28/SF
− OpEx
−$22.9K −$4.32/SF
NOI
$68.7K $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%
$1,373,760
Cap Rate 7%
$981,257
Cap Rate 9%
$763,200
Alternative Uses
Best Use
Specialty Retail
$981.3K
$858.6K – $1.14M
NOI $68,688 @ 7.0% cap · market cap 6.24%
Second Best
Retail
$717.4K
$627.7K – $837.0K
NOI $50,219 @ 7.0% cap · market cap 4.57%
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
252
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 20%
Electronics 2%
Tim Hortons
Dining
8,950 visits/mo
0.5 miles
Exxon
Shops & Services
7,318 visits/mo
0.2 miles
Family Dollar
Shops & Services
7,014 visits/mo
0.3 miles
Chase Bank
Shops & Services
6,834 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
4,922 visits/mo
0.3 miles
Demographics for 48125, MI
22,070
Population
8,791
Households
2.5
Avg Household Size
38
Median Age
16%
College-Educated
87%
High-School Grad
4.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$59,534
Median Household Income
$38,241
Median Earnings
$1,298
Median Rent
$119,300
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Well-maintained retail building with restaurant and tenant-occupied suite.
Where is this conventional restaurant located?
The property is located at 22402-22426 Van Born Rd Dearborn Heights, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity with liquor license, FF&E, and capital equipment included.; Two‑suite retail building with one suite already leased.; Opportunity for owner‑user or investor.
