Operating Restaurant on Large
For Sale
Contact for pricing
36217 Southbound Gratiot Ave, Clinton Twp, MI 48035
Operating restaurant for sale on a large 82,000+ sqft lot.
Property Size12,000 SF
Lot Size82.00 Acres
Price / SF$149.17
Days on Market1609
Property Features for 36217 Southbound Gratiot Ave
General Information
Standard status
Active
Size
12,000 SF
Lot size
82.00 Acres
Property subtype
Mixed Use, Retail, Special Purpose
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1976
Year Renovated
2020
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Golden Key Group
Listed By:
REVAN HERFY · License #6501405707
Source:
Crexi
Added: May 25, 2022
Changed: Oct 6
Last Checked: Oct 19 at 4:54AM
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 Golden Key Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire an operating restaurant business along with the real estate. The property features a lot exceeding 82,000 square feet, accommodating over 400 guests. It includes a fully operational restaurant with an independent kitchen. The building size is 12,000 square feet. The property is suitable for conventional restaurants, retail space, and other commercial real estate ventures.
Key Highlights
- Over 82,000 sq ft lot suitable for hosting over 400 guests
- Includes a fully operational restaurant
- Features an independent kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,262
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,145,240
$3.1M
Cap Rate 7%
$2,246,600
$2.2M
Cap Rate 9%
$1,747,356
$1.7M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$237.6K $19.80/SF
− Vacancy
−$27.9K −$2.33/SF
EGI
$209.7K $17.47/SF
− OpEx
−$52.4K −$4.37/SF
NOI
$157.3K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,145,240
Cap Rate 7%
$2,246,600
Cap Rate 9%
$1,747,356
Alternative Uses
Best Use
Specialty Retail
$2.25M
$1.97M – $2.62M
NOI $157,262 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
120k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 31%
Leisure 20%
Superstores 18%
Shops & Services 17%
Lowe's
Home Improvements & Furnishings
36,161 visits/mo
0.3 miles
AMC Gratiot 21
Leisure
24,516 visits/mo
0.2 miles
Big Lots
Superstores
21,686 visits/mo
0.1 miles
Starbucks
Dining
16,636 visits/mo
0.2 miles
Mobil
Shops & Services
6,011 visits/mo
0.5 miles
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant for sale on a large 82,000+ sqft lot.
Where is this conventional restaurant located?
The property is located at 36217 Southbound Gratiot Ave Clinton Twp, MI.
What is the asking price?
The asking price for this property is $1,789,999.
What are key features of this property?
This property features: Over 82,000 sq ft lot suitable for hosting over 400 guests; Includes a fully operational restaurant; Features an independent kitchen
