Former Restaurant Ready for
For Sale
Contact for pricing
33785 Van Dyke Fwy, Sterling Heights, MI 48314
Former restaurant with high traffic, ready for improvements.
Property Size4,997 SF
Price / SF$190.11
Days on Market1372
Property Features for 33785 Van Dyke Fwy
General Information
Standard status
Active
Size
4,997 SF
Property subtype
Retail
Investment Type
Institutional
Listing Agency:
Transwestern Detroit
Listed By:
Charles Howard · License #MI 6506044836
(248) 440-1447
Source:
Crexi
Added: Jan 3, 2023
Changed: Sep 28
Last Checked: Oct 5 at 6:52PM
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 Transwestern Detroit
Investment Insights
Based on property information with market context.
This property, formerly an IHOP restaurant, presents a commercial real estate opportunity. The seating area has been gutted, making it ready for improvements. The location benefits from high traffic, with approximately 50,000 cars passing by daily. The property size is 4,997 square feet.
Key Highlights
- High traffic location: 50,000 cars per day.
- Former IHOP Restaurant: Established restaurant location.
- Gutted Seating Area: Ready for customized improvements.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,341
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,286,820
$1.3M
Cap Rate 7%
$919,157
$919.2K
Cap Rate 9%
$714,900
$714.9K
Market Conditions
NOI Build-Up for 4,997 SF
Gross rent
$92.9K $18.60/SF
− Vacancy
−$7.2K −$1.43/SF
EGI
$85.8K $17.17/SF
− OpEx
−$21.4K −$4.29/SF
NOI
$64.3K $12.88/SF
Area
Sterling Heights, MI
Vacancy
7.70%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,286,820
Cap Rate 7%
$919,157
Cap Rate 9%
$714,900
Alternative Uses
Best Use
Specialty Retail
$919.2K
$804.3K – $1.07M
NOI $64,341 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.6K – $1.29M
NOI $77,165 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 30%
7-Eleven
Shops & Services
7,634 visits/mo
0.1 miles
Jimmy John's
Dining
4,788 visits/mo
0.2 miles
Sunoco
Shops & Services
4,752 visits/mo
0.2 miles
SUBWAY
Dining
596 visits/mo
0.1 miles
Demographics for 48314, MI
21,614
Population
9,286
Households
2.3
Avg Household Size
44
Median Age
36%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,771
Density / Sq Mi
$80,383
Median Household Income
$46,481
Median Earnings
$1,397
Median Rent
$309,700
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 - Former restaurant with high traffic, ready for improvements.
Where is this conventional restaurant located?
The property is located at 33785 Van Dyke Fwy Sterling Heights, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: High traffic location: 50,000 cars per day.; Former IHOP Restaurant: Established restaurant location.; Gutted Seating Area: Ready for customized improvements.
