Mixed-Use Restaurant and
W 3143 W MCNICHOLS Road Unit SourceFi Detroit, MI 48221
W 3143 W MCNICHOLS Road Unit SourceFi, Detroit, MI, 48221
$1,700,000
For Sale
$1,700,000
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$197.10
Days on Market195
Property Features for W 3143 W MCNICHOLS Road Unit SourceFi
General Information
- Standard status
- Active
- Size
- 8,625 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing agency
Leboursia Realty Group
(313) 861-2626
Listed by
Quinnon Martin · License #6501179804
Source
Xome
Added: Jan 7 Updated: Jul 18 at 2:14AM Checked: Jul 21 at 3:12AM
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
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
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $160.4k | $18.60 |
| − Vacancy | −$8.7k | −$1.00 |
| EGI | $151.8k | $17.60 |
| − OpEx | −$37.9k | −$4.40 |
| NOI | $113.8k | $13.20 |
8,625 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,822 @ 7.0% cap · market cap 6.70%
Second Best
Multifamily LT 5
$1.41M
$1.23M – $1.64M
NOI $98,571 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,190 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Wildemere
Corporate Office
Similar For Sale Nearby
Similar Off Market Nearby
- Roll Up Lounge — Detroit, MI 48212
- Cats Entertainment — 17934 Arlington St, Detroit, MI 48212
- Keynote Lounge — 18437 Conant, Detroit, MI 48234
- Mandee's Jazz Cafe — 17132 Conant, Hamtramck, MI 48212
FAQs
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 W 3143 W MCNICHOLS Road Unit SourceFi Detroit, MI.
What is the asking price?
The asking price for this property is $1,700,000.
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
