Remodeled Restaurant with Liquor
For Sale
$1,200,000
3233 Biddle Ave, Wyandotte, MI 48192
Sale includes restaurant furnishings, operating equipment, fixtures, and a liquor license.
Property Size4,000 SF
Price / SF$300
Days on Market530
Property Features for 3233 Biddle Ave
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Retail
Zoning
CBD
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Building Details
Building Size
4,000 SF
Year Built
1921
Year Renovated
2016
Buildings
1
Stories
1
Listing Agency:
Signature Associates - Southfield
(248) 799-3143
Listed By:
Justin W. Gaffrey · License #6501317055
(248) 799-3143
Source:
Cpix.resimplifi
Added: Mar 19, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:26PM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This conventional restaurant comprises 4,000 square feet in a building originally constructed in 1921. The property includes furniture, fixtures, equipment, and a liquor license, providing a built-out hospitality setting for a restaurant operator.
Located in Downtown Wyandotte, the property carries CBD zoning. A 2016 renovation addressed major building components, including the roof and HVAC system, combining the character of an older structure with updated core improvements.
Located in Downtown Wyandotte, the property carries CBD zoning. A 2016 renovation addressed major building components, including the roof and HVAC system, combining the character of an older structure with updated core improvements.
Key Highlights
- 4,000‑square‑foot conventional restaurant
- Furniture, fixtures, and equipment included
- Liquor license included in the sale
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
$51,840
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
4.32%
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%
$1,036,800
$1.0M
Cap Rate 7%
$740,571
$740.6K
Cap Rate 9%
$576,000
$576.0K
Market Conditions
NOI Build-Up for 4,000 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
$72.0K $18.00/SF
− Vacancy
−$2.9K −$0.72/SF
EGI
$69.1K $17.28/SF
− OpEx
−$17.3K −$4.32/SF
NOI
$51.8K $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%
$1,036,800
Cap Rate 7%
$740,571
Cap Rate 9%
$576,000
Alternative Uses
Best Use
Specialty Retail
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 4.32%
Second Best
Retail
$541.4K
$473.8K – $631.7K
NOI $37,901 @ 7.0% cap · market cap 3.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
80k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 47%
Apparel 1%
McDonald's
Dining
17,974 visits/mo
0.2 miles
Tim Hortons
Dining
9,419 visits/mo
0.3 miles
The UPS Store
Shops & Services
8,237 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,799 visits/mo
0.3 miles
Dollar Tree
Shops & Services
7,694 visits/mo
0.0 miles
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Sale includes restaurant furnishings, operating equipment, fixtures, and a liquor license.
Where is this conventional restaurant located?
The property is located at 3233 Biddle Ave Wyandotte, 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: 4,000‑square‑foot conventional restaurant; Furniture, fixtures, and equipment included; Liquor license included in the sale
