Equipped Restaurant
For Sale
$280,000
3337 Greenfield, Dearborn, MI 48120
Established operation with dining, buffet, bar, and kitchen areas available for a new or continuing concept.
Property Size4,000 SF
Price / SF$70
Days on Market11
Property Features for 3337 Greenfield
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Industrial
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Amenities
200200
Building Details
Year Built
19
Listing Agency:
LPT Realty, LLC
(313) 766-8387
Listed By:
Shannon Bagdonas · License #6501424248
(313) 766-8387
Source:
Xome
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 2:51PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
Restaurant business sale at 3337 Greenfield Road in Dearborn, with approximately 4,000 square feet of interior space arranged for dining, service, and food preparation. The premises include a buffet area, bar, multiple dining areas, and a rear room that supports private events, celebrations, entertainment, or additional seating. The current operation serves Indian cuisine, while the business may accommodate a different concept subject to lease terms, landlord approval, licensing, and governmental requirements.
Included in the sale are restaurant furnishings, dishes, bar fixtures, and kitchen equipment. The property is positioned among residential neighborhoods, offices, and businesses with access to major roadways. This is a business-only sale; the real estate is not included.
Included in the sale are restaurant furnishings, dishes, bar fixtures, and kitchen equipment. The property is positioned among residential neighborhoods, offices, and businesses with access to major roadways. This is a business-only sale; the real estate is not included.
Key Highlights
- Approximately 4,000 square feet of restaurant interior space
- Buffet area, bar area, multiple dining spaces, and rear event area
- Restaurant furnishings, dishes, bar fixtures, and kitchen equipment included
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
$23,473
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
8.38%
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%
$469,460
$469.5K
Cap Rate 7%
$335,329
$335.3K
Cap Rate 9%
$260,811
$260.8K
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
$35.0K $8.76/SF
− Vacancy
−$1.5K −$0.38/SF
EGI
$33.5K $8.38/SF
− OpEx
−$10.1K −$2.51/SF
NOI
$23.5K $5.87/SF
Area
Dearborn, MI
Vacancy
4.30%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
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%
$469,460
Cap Rate 7%
$335,329
Cap Rate 9%
$260,811
Alternative Uses
Best Use
Specialty Retail
$781.7K
$684.0K – $912.0K
NOI $54,720 @ 7.0% cap · market cap 19.54%
Second Best
Industrial
$335.3K
$293.4K – $391.2K
NOI $23,473 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$882.4K
$772.1K – $1.03M
NOI $61,769 @ 7.0% cap · market cap 22.06%
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
463
Businesses Nearby
58k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
7-Eleven
Shops & Services
15,304 visits/mo
0.1 miles
The UPS Store
Shops & Services
14,386 visits/mo
0.1 miles
Tim Hortons
Dining
8,828 visits/mo
0.3 miles
Wendy's
Dining
8,807 visits/mo
0.3 miles
Mobil
Shops & Services
6,975 visits/mo
0.1 miles
Demographics for 48120, MI
8,338
Population
2,910
Households
2.9
Avg Household Size
29
Median Age
37%
College-Educated
76%
High-School Grad
4.7 sq mi
ZIP Area
1,774
Density / Sq Mi
$66,667
Median Household Income
$48,170
Median Earnings
$1,407
Median Rent
$236,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established operation with dining, buffet, bar, and kitchen areas available for a new or continuing concept.
Where is this conventional restaurant located?
The property is located at 3337 Greenfield Dearborn, MI.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Approximately 4,000 square feet of restaurant interior space; Buffet area, bar area, multiple dining spaces, and rear event area; Restaurant furnishings, dishes, bar fixtures, and kitchen equipment included
