Turnkey Restaurant with 150+
For Sale
$475,000
3402 DAVISON RD, Flint, MI 48506
Turnkey restaurant building with newer kitchen equipment, a walk-in cooler and freezer, and 150+ seats.
Property Size3,467 SF
Price / SF$137.01
Days on Market327
Property Features for 3402 DAVISON RD
General Information
Standard status
Active
Size
3,467 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Amenities
3
180110
Building Details
Year Built
19
Listing Agency:
365 REALTY
(248) 722-1614
Listed By:
Wisam Putrus · License #6502342531
(248) 722-1614
Source:
Xome
Added: Sep 28, 2025
Changed: Aug 12
Last Checked: Aug 20 at 4:47AM
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 365 REALTY
Investment Insights
Based on property information with market context.
This well-established restaurant business and commercial building is offered in turnkey condition with seating for 150+ guests. The operation is supported by newer appliances, including a hot plate grill, fryers, stove, steam table, and walk-in cooler and freezer, designed to support day-to-day kitchen service.
The property is located on a main street in the heart of Genesee County and includes additional parking lot area with plenty of on-site parking for guests.
As presented, the restaurant is positioned for an owner-user looking to take over an operating concept in place, with the equipment already in use and ready for continued service.
The property is located on a main street in the heart of Genesee County and includes additional parking lot area with plenty of on-site parking for guests.
As presented, the restaurant is positioned for an owner-user looking to take over an operating concept in place, with the equipment already in use and ready for continued service.
Key Highlights
- Well‑established Aldo's Coney Island restaurant business and commercial building
- 150+ seat restaurant with turnkey setup as listed
- Newer kitchen equipment including hot plate grill, fryers, stove, and steam table
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
$30,741
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
6.47%
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%
$614,820
$614.8K
Cap Rate 7%
$439,157
$439.2K
Cap Rate 9%
$341,567
$341.6K
Market Conditions
NOI Build-Up for 3,467 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
$49.9K $14.40/SF
− Vacancy
−$8.9K −$2.58/SF
EGI
$41.0K $11.82/SF
− OpEx
−$10.2K −$2.96/SF
NOI
$30.7K $8.87/SF
Area
Genesee County, MI
Vacancy
17.90%
Lease Rate
$14.40 /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%
$614,820
Cap Rate 7%
$439,157
Cap Rate 9%
$341,567
Alternative Uses
Best Use
Specialty Retail
$439.2K
$384.3K – $512.4K
NOI $30,741 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$729.5K
$638.4K – $851.1K
NOI $51,068 @ 7.0% cap · market cap 10.75%
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
368
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48506, MI
25,069
Population
11,114
Households
2.3
Avg Household Size
39
Median Age
9%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
1,355
Density / Sq Mi
$44,416
Median Household Income
$31,740
Median Earnings
$897
Median Rent
$91,200
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 - Turnkey restaurant building with newer kitchen equipment, a walk-in cooler and freezer, and 150+ seats.
Where is this conventional restaurant located?
The property is located at 3402 DAVISON RD Flint, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Well‑established Aldo's Coney Island restaurant business and commercial building; 150+ seat restaurant with turnkey setup as listed; Newer kitchen equipment including hot plate grill, fryers, stove, and steam table
