Renovated Drive-Through
2630 Oakwood Blvd Melvindale, MI 48122
2630 Oakwood Blvd, Melvindale, MI, 48122
$824,999
For Sale
$824,999
2002-built drive-through restaurant renovated in 2020; current lease runs through 2030.
Property Size2,985 SF
Price / SF$276.38
Days on Market51
Property Features for 2630 Oakwood Blvd
General Information
- Standard status
- Active
- Size
- 2,985 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2002
Listing agency
Keystone Commercial Real Estate
(248) 406-7113
Listed by
Greg Newman · License #6501288543
Source
Keystonecres
Added: Jun 2 Updated: Jul 22 at 12:18AM Checked: Jul 22 at 12:18AM
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 Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
This drive-through restaurant includes a 2,985 SF building constructed in 2002 and renovated in 2020. The property is currently at 100% occupancy and features pylon signage.
Located at 2630 Oakwood Blvd in Melvindale, Michigan, the site is identified as zoned R1 1 FA in the provided materials. The current lease expires 11-31-2030, with 2- and 5-year options. The tenant is Savvy Sliders, a brand with over 50 franchise restaurants in the United States, per the seller’s remarks.
Located at 2630 Oakwood Blvd in Melvindale, Michigan, the site is identified as zoned R1 1 FA in the provided materials. The current lease expires 11-31-2030, with 2- and 5-year options. The tenant is Savvy Sliders, a brand with over 50 franchise restaurants in the United States, per the seller’s remarks.
Key Highlights
- 2,985 SF retail building built in 2002
- Renovated in 2020
- 100% occupancy
Local 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 | $53.7k | $18.00 |
| − Vacancy | −$2.1k | −$0.72 |
| EGI | $51.6k | $17.28 |
| − OpEx | −$12.9k | −$4.32 |
| NOI | $38.7k | $12.96 |
2,985 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$552.7K
$483.6K – $644.8K
NOI $38,686 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Savvy Sliders
Restaurant
Happy's Pizza
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - 2002-built drive-through restaurant renovated in 2020; current lease runs through 2030.
Where is this drive through restaurant located?
The property is located at 2630 Oakwood Blvd Melvindale, MI.
What is the asking price?
The asking price for this property is $824,999.
What are key features of this property?
This property features: 2,985 SF retail building built in 2002; Renovated in 2020; 100% occupancy
