Freestanding Restaurant
For Sale
$575,000
2971 Coolidge Hwy, Berkley, MI 48072
Established restaurant property with commercial kitchen equipment and a dedicated on-site parking area.
Property Size2,471 SF
Days on Market48
Property Features for 2971 Coolidge Hwy
General Information
Standard status
Active
Size
2,471 SF
Total Parking Spaces
16
Property subtype
Retail
Building Details
Building Size
2,471 SF
Year Built
1957
Buildings
1
Listing Agency:
Thomas A. Duke Company
Listed By:
Andrew Battersby · License #6501384188
(248) 631-8085
Source:
Thomasduke
Added: Sep 1
Changed: Oct 15
Last Checked: Oct 16 at 7:52AM
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 Thomas A. Duke Company
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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 freestanding restaurant building in Berkley, Michigan, was constructed in 1957 and includes existing kitchen equipment. The property has served as a restaurant location and is offered with a dedicated parking field containing 16 spaces.
Positioned on Coolidge Hwy, the building provides a standalone setting for restaurant operations. The property is being offered for sale and is noted as having its first market offering in more than 30 years.
Positioned on Coolidge Hwy, the building provides a standalone setting for restaurant operations. The property is being offered for sale and is noted as having its first market offering in more than 30 years.
Key Highlights
- Freestanding restaurant building at 2971 Coolidge Hwy, Berkley, MI 48072
- 16‑space parking field
- Existing kitchen equipment included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,308
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,160
$746.2K
Cap Rate 7%
$532,971
$533.0K
Cap Rate 9%
$414,533
$414.5K
Market Conditions
NOI Build-Up for 2,471 SF
Gross rent
$53.4K $21.60/SF
− Vacancy
−$3.6K −$1.47/SF
EGI
$49.7K $20.13/SF
− OpEx
−$12.4K −$5.03/SF
NOI
$37.3K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,160
Cap Rate 7%
$532,971
Cap Rate 9%
$414,533
Alternative Uses
Best Use
Specialty Retail
$533.0K
$466.4K – $621.8K
NOI $37,308 @ 7.0% cap · market cap 6.49%
Second Best
Retail
$379.8K
$332.4K – $443.2K
NOI $26,589 @ 7.0% cap · market cap 4.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 34%
Taco Bell
Dining
15,399 visits/mo
0.5 miles
Sunoco
Shops & Services
5,884 visits/mo
0.2 miles
PNC Bank
Shops & Services
5,223 visits/mo
0.3 miles
Bagger Dave's
Dining
4,283 visits/mo
0.1 miles
Jet's Pizza
Dining
3,497 visits/mo
0.2 miles
Demographics for 48072, MI
15,194
Population
7,068
Households
2.1
Avg Household Size
38
Median Age
58%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
6,331
Density / Sq Mi
$113,103
Median Household Income
$68,818
Median Earnings
$1,436
Median Rent
$289,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant property with commercial kitchen equipment and a dedicated on-site parking area.
Where is this conventional restaurant located?
The property is located at 2971 Coolidge Hwy Berkley, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Freestanding restaurant building at 2971 Coolidge Hwy, Berkley, MI 48072; 16‑space parking field; Existing kitchen equipment included
