Franchise Restaurant
For Sale
$299,999
Pending
27010 Plymouth Rd, Redford, MI 48239
Occupied restaurant property with a lease in place through December 2029.
Property Size1,300 SF
Days on Market281
Property Features for 27010 Plymouth Rd
General Information
Standard status
Pending
Size
1,300 SF
Additional Details
Cap Rate
8%
Taxes and HOA fees
Annual Taxes
$2,649
Listing Agency:
RE/MAX Team 2000
Listed By:
Yousef Beydoun · License #6501354088
(313) 561-0900
Source:
Exprealty
Added: Jan 15
Changed: Oct 13
Last Checked: Oct 20 at 11:13PM
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 RE/MAX Team 2000
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This conventional restaurant property is occupied by a burger franchise under a lease extending through December 2029. The investment is identified with an 8% cap rate.
The property is located at 27010 Plymouth Rd in Redford, Michigan.
The property is located at 27010 Plymouth Rd in Redford, Michigan.
Key Highlights
- 8% cap rate
- Occupied by a burger franchise
- Lease term extends through December 2029
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,156
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,120
$343.1K
Cap Rate 7%
$245,086
$245.1K
Cap Rate 9%
$190,622
$190.6K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$24.2K $18.60/SF
− Vacancy
−$1.3K −$1.00/SF
EGI
$22.9K $17.60/SF
− OpEx
−$5.7K −$4.40/SF
NOI
$17.2K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,120
Cap Rate 7%
$245,086
Cap Rate 9%
$190,622
Alternative Uses
Best Use
Specialty Retail
$245.1K
$214.5K – $285.9K
NOI $17,156 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$286.8K
$250.9K – $334.6K
NOI $20,075 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 31%
Marathon Petroleum
Shops & Services
10,180 visits/mo
0.3 miles
Arby's
Dining
6,757 visits/mo
0.4 miles
Mobil
Shops & Services
6,215 visits/mo
0.3 miles
BP
Shops & Services
6,180 visits/mo
0.3 miles
Public Service Credit Union
Shops & Services
5,915 visits/mo
0.0 miles
Demographics for 48239, MI
36,814
Population
14,869
Households
2.5
Avg Household Size
40
Median Age
23%
College-Educated
93%
High-School Grad
9.5 sq mi
ZIP Area
3,875
Density / Sq Mi
$69,373
Median Household Income
$41,113
Median Earnings
$1,355
Median Rent
$145,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Occupied restaurant property with a lease in place through December 2029.
Where is this conventional restaurant located?
The property is located at 27010 Plymouth Rd Redford, MI.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: 8% cap rate; Occupied by a burger franchise; Lease term extends through December 2029
