Mixed-Use Restaurant and
3143 W McNichols Rd, Detroit, MI 48221
For Sale
$1,200,000
Mixed-use property with an upgraded restaurant/bar and two upper three-bedroom apartments plus a full basement and four-car garage.
Property Size8,625 SF
Price / SF$139.13
Days on Market306
Property Features for 3143 W McNichols Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Business Included
Liquor License
Multifamily Units
Building Details
Year Built
Listing Agency:
Leboursia Realty Group
Listed By:
Quinnon L Martin III · License MI #6501179804
(313) 215-6658
Source:
Semichiganhomesource
Added: Jan 9
Changed: Nov 1
Last Checked: Nov 8 at 7:09AM
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 Leboursia Realty Group
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Investment Insights
Based on property information with market context.
The Wildemere is a mixed-use commercial building with a fully upgraded restaurant/bar and grill and two upper three-bedroom apartments. The interior offers an open, versatile layout, and the restaurant features a modern kitchen with granite counters. The building has a solid brick exterior and has been updated with new windows and upgraded HVAC and electrical systems.
The property is located in the University of Detroit area, and the public remarks describe strong local visibility with steady activity from new investment.
In addition to the restaurant and upper apartments, the building includes a full basement and a four-car garage. A Class C liquor license is included with the sale.
The property is located in the University of Detroit area, and the public remarks describe strong local visibility with steady activity from new investment.
In addition to the restaurant and upper apartments, the building includes a full basement and a four-car garage. A Class C liquor license is included with the sale.
Key Highlights
- Mixed‑use commercial building featuring a restaurant/bar and 2 upper 3‑bedroom apartments
- Fully upgraded with new windows, HVAC, and electrical
- Restaurant/bar & grill includes a modern kitchen with granite counters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,571
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,971,420
$2.0M
Cap Rate 7%
$1,408,157
$1.4M
Cap Rate 9%
$1,095,233
$1.1M
Market Conditions
NOI Build-Up for 8,625 SF
Gross rent
$150.1K $17.40/SF
− Vacancy
−$9.3K −$1.07/SF
EGI
$140.8K $16.33/SF
− OpEx
−$42.2K −$4.90/SF
NOI
$98.6K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,971,420
Cap Rate 7%
$1,408,157
Cap Rate 9%
$1,095,233
Alternative Uses
Best Use
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,822 @ 7.0% cap · market cap 9.49%
Second Best
Multifamily LT 5
$1.41M
$1.23M – $1.64M
NOI $98,571 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,190 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48221, MI
38,204
Population
17,452
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
7,347
Density / Sq Mi
$55,583
Median Household Income
$37,019
Median Earnings
$1,174
Median Rent
$138,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Bars & Pubs in Wayne County, MI
Properties on Market for Bars & Pubs in Wayne County
Vacancy Rate% for Multifamily in Midwest region
Similar Off Market Nearby
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- Roll Up Lounge — Detroit, MI 48212
- Cats Entertainment — 17934 Arlington St, Detroit, MI 48212
- Keynote Lounge — 18437 Conant, Detroit, MI 48234
Frequently Asked Questions
What type of property is this?
Bar & Pub - Mixed-use property with an upgraded restaurant/bar and two upper three-bedroom apartments plus a full basement and four-car garage.
Where is this bar & pub located?
The property is located at 3143 W McNichols Rd Detroit, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Mixed‑use commercial building featuring a restaurant/bar and 2 upper 3‑bedroom apartments; Fully upgraded with new windows, HVAC, and electrical; Restaurant/bar & grill includes a modern kitchen with granite counters
