Updated Subway Restaurant
For Sale
$194,800
30979 Five Mile Rd, Livonia, MI 48154
Newly updated 2025 Subway space in a busy strip mall with a long-term lease in place.
Property Size1,200 SF
Price / SF$162.33
Days on Market166
Property Features for 30979 Five Mile Rd
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Amenities
3
Rubber
953533
Building Details
Year Built
19
Year Renovated
2025
Listing Agency:
Century 21 Curran & Oberski
(313) 715-2020
Listed By:
Bill Darwich · License #6501368264
(313) 715-2020
Source:
Xome
Added: Feb 27
Changed: Aug 12
Last Checked: Aug 12 at 3:22AM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This for-sale opportunity includes a Subway restaurant business associated with an updated restaurant space. The premises were newly updated in 2025, with new Subway décor and some new equipment included. A long-term lease is in place, supporting an owner-operator or investor scenario.
The property is located in the Five Mile Rd/Merriman Rd area within a busy strip mall. The center includes other large retailers such as Kroger, Pearle Vision, and H&R Block.
As presented, the suite is turnkey from a presentation standpoint following the 2025 updates, and the lease provides ongoing occupancy under a long-term agreement.
The property is located in the Five Mile Rd/Merriman Rd area within a busy strip mall. The center includes other large retailers such as Kroger, Pearle Vision, and H&R Block.
As presented, the suite is turnkey from a presentation standpoint following the 2025 updates, and the lease provides ongoing occupancy under a long-term agreement.
Key Highlights
- Newly updated 2025 Subway space with new Subway décor
- Some new equipment included
- Long‑term lease in place for the Subway restaurant business
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
$15,552
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
7.98%
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%
$311,040
$311.0K
Cap Rate 7%
$222,171
$222.2K
Cap Rate 9%
$172,800
$172.8K
Market Conditions
NOI Build-Up for 1,200 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
$21.6K $18.00/SF
− Vacancy
−$864 −$0.72/SF
EGI
$20.7K $17.28/SF
− OpEx
−$5.2K −$4.32/SF
NOI
$15.6K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$311,040
Cap Rate 7%
$222,171
Cap Rate 9%
$172,800
Alternative Uses
Best Use
Specialty Retail
$222.2K
$194.4K – $259.2K
NOI $15,552 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
157k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Shops & Services 37%
Dining 20%
Apparel 2%
Kroger
Groceries
61,423 visits/mo
0.1 miles
Dollar Tree
Shops & Services
24,539 visits/mo
0.2 miles
Shell
Shops & Services
12,847 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
10,892 visits/mo
0.2 miles
Tim Hortons
Dining
10,789 visits/mo
0.2 miles
Demographics for 48154, MI
37,864
Population
15,330
Households
2.5
Avg Household Size
47
Median Age
44%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
3,264
Density / Sq Mi
$103,763
Median Household Income
$59,017
Median Earnings
$1,197
Median Rent
$285,800
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.
Similar Off Market Nearby
- Golden Palace Buffet — 29583 Five Mile Rd, Livonia, MI 48154
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Newly updated 2025 Subway space in a busy strip mall with a long-term lease in place.
Where is this conventional restaurant located?
The property is located at 30979 Five Mile Rd Livonia, MI.
What is the asking price?
The asking price for this property is $194,800.
What are key features of this property?
This property features: Newly updated 2025 Subway space with new Subway décor; Some new equipment included; Long‑term lease in place for the Subway restaurant business
