Stand-Alone Restaurant
W 24611 W MCNICHOLS Road Unit SourceFi Detroit, MI 48219
For Sale
$199,000
Stand-alone restaurant building with ample parking and frontage on McNichols Road.
Property Size1,323 SF
Price / SF$150.42
Days on Market84
Property Features for W 24611 W MCNICHOLS Road Unit SourceFi
General Information
Standard status
Active
Size
1,323 SF
Property subtype
Industrial
Building Details
Year Built
19
Listing Agency:
Own It Realty
(313) 680-0000
Listed By:
Hassan Scheib · License #6502399271
(313) 680-0000
Source:
Xome
Added: May 7
Changed: Jul 23
Last Checked: Jul 29 at 4:12AM
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 Own It Realty
Investment Insights
Based on property information with market context.
This for-sale stand-alone restaurant building was previously used as a Coney Island and is offered with room for new concepts and “bring your ideas” execution. The property includes ample parking and is set up for retail or food-service style operations based on its prior restaurant use.
The building sits with great exposure and frontage on McNichols Road, supporting walk-in and drive-by visibility.
If you’re looking for a freestanding option with parking and established restaurant characteristics, this property is worth a closer look. Schedule your showing to review the layout and discuss fit for your intended use.
The building sits with great exposure and frontage on McNichols Road, supporting walk-in and drive-by visibility.
If you’re looking for a freestanding option with parking and established restaurant characteristics, this property is worth a closer look. Schedule your showing to review the layout and discuss fit for your intended use.
Key Highlights
- Stand‑alone restaurant building with ample parking
- Frontage on McNichols Road
- Previous Coney Island use
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.6k | $18.60 |
| − Vacancy | −$1.3k | −$1.00 |
| EGI | $23.3k | $17.60 |
| − OpEx | −$5.8k | −$4.40 |
| NOI | $17.5k | $13.20 |
1,323 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$249.4K
$218.2K – $291.0K
NOI $17,459 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.7K
$237.8K – $317.0K
NOI $19,022 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Stand-alone restaurant building with ample parking and frontage on McNichols Road.
Where is this conventional restaurant located?
The property is located at W 24611 W MCNICHOLS Road Unit SourceFi Detroit, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Stand‑alone restaurant building with ample parking; Frontage on McNichols Road; Previous Coney Island use
