Built-Out Conventional
For Sale
$149,900
27650 Ford Road #Suite D, Garden City, MI 48135
Commercial restaurant space with an equipped kitchen, service counter, beverage station, and customer-ready dining infrastructure.
Property Size1,154 SF
Price / SF$129.90
Days on Market29
Property Features for 27650 Ford Road #Suite D
General Information
Standard status
Active
Size
1,154 SF
Property subtype
Business Opportunity
Zoning
Commercial
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Building Details
Building Size
1,154 SF
Year Built
2023
Stories
1
Listing Agency:
Keller Williams Legacy
(313) 759-1801
Listed By:
Mike Nehme · License #6501394572
(313) 759-1801
Source:
Carolbollo
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 28 at 11:57AM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This conventional restaurant occupies approximately 1,154 square feet within a modern plaza completed in 2023. The built-out space includes a customer service counter, beverage station, commercial cooking line, ventilation hood, fryers, refrigeration, stainless-steel preparation tables, storage, and related restaurant infrastructure. Existing furniture, fixtures, and commercial kitchen equipment are included, with the equipment reported to be approximately three years old.
The property has frontage along Ford Road and is zoned Commercial. Its configuration supports restaurant operations involving quick service, carryout, delivery, fast-casual service, or specialty food concepts, as identified in the property information.
The property has frontage along Ford Road and is zoned Commercial. Its configuration supports restaurant operations involving quick service, carryout, delivery, fast-casual service, or specialty food concepts, as identified in the property information.
Key Highlights
- Approximately 1,154 SF of restaurant space in a 2023‑built plaza
- Ford Road frontage within a commercial corridor
- Commercial cooking line with ventilation hood, fryers, and refrigeration
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
$5,974
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
3.99%
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%
$119,480
$119.5K
Cap Rate 7%
$85,343
$85.3K
Cap Rate 9%
$66,378
$66.4K
Market Conditions
NOI Build-Up for 1,154 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
$8.9K $7.68/SF
− Vacancy
−$328 −$0.28/SF
EGI
$8.5K $7.40/SF
− OpEx
−$2.6K −$2.22/SF
NOI
$6.0K $5.18/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
30.00%
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%
$119,480
Cap Rate 7%
$85,343
Cap Rate 9%
$66,378
Alternative Uses
Best Use
Specialty Retail
$213.7K
$187.0K – $249.3K
NOI $14,956 @ 7.0% cap · market cap 9.98%
Second Best
Industrial
$85.3K
$74.7K – $99.6K
NOI $5,974 @ 7.0% cap · market cap 3.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
67k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Burger King
Dining
13,072 visits/mo
0.4 miles
White Castle
Dining
10,417 visits/mo
0.2 miles
Speedway
Shops & Services
8,877 visits/mo
0.4 miles
Tropical Smoothie Cafe
Dining
7,998 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,775 visits/mo
0.3 miles
Demographics for 48135, MI
27,380
Population
11,395
Households
2.4
Avg Household Size
41
Median Age
15%
College-Educated
91%
High-School Grad
5.9 sq mi
ZIP Area
4,641
Density / Sq Mi
$64,396
Median Household Income
$39,987
Median Earnings
$991
Median Rent
$162,400
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 - Commercial restaurant space with an equipped kitchen, service counter, beverage station, and customer-ready dining infrastructure.
Where is this conventional restaurant located?
The property is located at 27650 Ford Road #Suite D Garden City, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Approximately 1,154 SF of restaurant space in a 2023‑built plaza; Ford Road frontage within a commercial corridor; Commercial cooking line with ventilation hood, fryers, and refrigeration
