Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Restaurant Space Available Title is generated by Realmo AI

    27801 23 Mile Rd, Chesterfield, MI 48051

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Restaurant space in a busy center on 23 Mile Road.

    Type:Retail, Restaurant
    Property size:
    2,002 SF
    Added:
    Jan 6, 2026
    Days on Market:
    128
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 27801 23 Mile Rd

    General Information

    Standard status
    Active
    Size
    2,002 SF
    Property subtype
    Retail, Restaurant

    Spaces For Lease

    at 27801 23 Mile Rd Contact us

    Turnkey Restaurant $38 /Mo

    Size
    2,002 SF
    Type
    Retail, Restaurant
    Turnkey restaurant available! Built out restaurant with 12 foot hood ventilation...
    show more
    Contact us

    We can help!

    Listing Contact
    Larry Howard
    Larry Howard

    Listing agent Larry Howard License #MI 6501288227

    Listing office Howard Realty Group

    Listing date Jan 6, 2026

    Source Crexi

    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 Howard Realty Group

    HighLights

    • Turnkey restaurant space ready for immediate operation.
    • Located in a very busy center with high visibility on 23 Mile Road.
    • Benefits from established co‑tenants like Tropical Smoothie, Crumbl Cookie, Wing Stop, and T‑Mobile.
    • Includes a 12‑foot hood ventilation system.
    • Equipped with essential restaurant equipment: fryers, grill, prep tables, standing freezer, and 8x8 walk‑in cooler.
    • Space is 2,002 square feet.

    Overview

    Located in a high-traffic area on 23 Mile Road, this multi-tenant center features tenants such as Tropical Smoothie, Crumbl Cookie, Wing Stop, and T-Mobile. A 2,002 square foot turnkey restaurant space is currently available. The built-out restaurant includes a 12-foot hood ventilation system, fryers, grill, prep tables, a standing freezer, an 8x8 walk-in cooler, tables, and other equipment.
    Location Intelligence

    Current Use by Public Records

    Lebanese 23 Mediterranean ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chesterfield
    County
    Macomb
    State
    Michigan
    Longitude
    -82.830018
    Latitude
    42.675108

    Nearby Similar for Lease

    • $1,500/Mo

      Chesterfield Office Suite For Rent

      Well-appointed office suite with high-end finishes and functional layout.
      55931 Gratiot, Chesterfield, MI 48051
      View Details
    • $500/Mo

      Chesterfield Coworking Space for Rent

      Private offices with shared amenities in a convenient location.
      55951 Gratiot, Chesterfield, MI 48051
      View Details
    • $4 SF/Yr

      Gratiot Avenue Industrial Space Available

      Industrial property with main road frontage and redevelopment potential.
      52365 Gratiot Avenue, Chesterfield, MI 48051
      View Details
    • $17 SF/Yr

      New Industrial Multi-Tenant Building

      39,800 SF industrial building with flexible leasing options.
      30801 Commerce Boulevard, Chesterfield, MI 48051
      View Details
    • $35 SF/Yr

      Freestanding Building with Drive-Thru Potential

      New development opportunity near Gratiot Ave & 23 Mile Rd.
      51705 Gratiot Ave, Chesterfield, MI
      View Details
    • Contact for pricing

      Retail Space Near Major Anchors

      Retail space for rent near Hobby Lobby and Lowe's.
      50500 Gratiot Avenue | Chesterfield, MI 48051
      View Details
    • $15 SF/Yr

      Retail Space on Gratiot Avenue

      Retail space available for lease on Gratiot Avenue.
      46970 Gratiot Ave, Chesterfield, MI
      View Details
    • $2,000/Mo

      Chesterfield Professional Office Space

      Professional office space near I-94 in Chesterfield, MI.
      30845 23 Mile, Chesterfield, MI 48047
      View Details
    • Contact for pricing

      Industrial Building Under Development

      20,320 SF industrial building with customizable office space.
      56461 Precision Drive, Chesterfield , MI 48051
      View Details
    • Contact for pricing

      Retail or Office Space Available

      Retail or office space with excellent visibility and freeway access.
      49684 Gratiot Ave, Chesterfield, MI 48051
      View Details
    • $7 SF/Yr

      Industrial Facility Near I-94

      Versatile industrial facility suitable for distribution and manufacturing.
      30505 Commerce Blvd, Chesterfield, MI
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 2,512 square feet.
      50670-50680 Gratiot Ave, Chesterfield, MI 48051-3130
      View Details

    FAQs

    What type of property is this?
    Restaurant - Restaurant space in a busy center on 23 Mile Road.
    Where is this restaurant located?
    The property is located at 27801 23 Mile Rd Chesterfield, MI.
    What are key features of this property?
    This property features: Turnkey restaurant space ready for immediate operation.; Located in a very busy center with high visibility on 23 Mile Road.; Benefits from established co‑tenants like Tropical Smoothie, Crumbl Cookie, Wing Stop, and T‑Mobile.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Larry Howard
    Larry Howard
    Real Estate License ID: MI 6501288227
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    27801 23 Mile Rd, Chesterfield, MI 48051
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!