Restaurant Building with
For Sale
$780,000
37116 S Groesbeck, Clinton Township, MI 48036
Restaurant property with on-site parking and OS-1 Office/Service Low-Rise District zoning.
Property Size3,693 SF
Lot Size0.73 Acres
Price / SF$211.21
Days on Market27
Property Features for 37116 S Groesbeck
General Information
Standard status
Active
Size
3,693 SF
Lot size
0.73 Acres
Zoning
OS-1
Additional Details
Business Included
Yes
Building Details
Year Built
19
Listing Agency:
Diplomat Realty
(586) 453-3533
Listed By:
Nicholas Sinishtaj · License #414648
Source:
Sellinghomesinmichigan
Added: Aug 5
Changed: Aug 30
Last Checked: Aug 30 at 11:26PM
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 Diplomat Realty
Investment Insights
Based on property information with market context.
This 3,693-square-foot restaurant property occupies 0.73 acres along S Groesbeck in Clinton Township. The site includes an existing restaurant operation, on-site parking, and a layout suited to continued dining use as well as catering or banquet functions. The property is identified as Zorba's Family Restaurant.
Zoned OS-1 Office/Service Low-Rise District, the site is positioned for restaurant or carry-out use, catering hall operations, medical or professional office, retail, and other service-oriented concepts identified in the property information. Its location along the Groesbeck corridor provides direct corridor exposure within the Clinton Township market.
Zoned OS-1 Office/Service Low-Rise District, the site is positioned for restaurant or carry-out use, catering hall operations, medical or professional office, retail, and other service-oriented concepts identified in the property information. Its location along the Groesbeck corridor provides direct corridor exposure within the Clinton Township market.
Key Highlights
- 3,693‑square‑foot restaurant property on 0.73 acres
- Existing Zorba's Family Restaurant operation
- On‑site parking 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
$48,397
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
6.20%
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%
$967,940
$967.9K
Cap Rate 7%
$691,386
$691.4K
Cap Rate 9%
$537,744
$537.7K
Market Conditions
NOI Build-Up for 3,693 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
$73.1K $19.80/SF
− Vacancy
−$8.6K −$2.33/SF
EGI
$64.5K $17.47/SF
− OpEx
−$16.1K −$4.37/SF
NOI
$48.4K $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 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%
$967,940
Cap Rate 7%
$691,386
Cap Rate 9%
$537,744
Alternative Uses
Best Use
Specialty Retail
$691.4K
$605.0K – $806.6K
NOI $48,397 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
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
554
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Comerica Bank
Shops & Services
2,137 visits/mo
0.4 miles
Demographics for 48036, MI
22,517
Population
9,855
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,713
Density / Sq Mi
$65,109
Median Household Income
$36,730
Median Earnings
$1,018
Median Rent
$201,000
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 - Restaurant property with on-site parking and OS-1 Office/Service Low-Rise District zoning.
Where is this conventional restaurant located?
The property is located at 37116 S Groesbeck Clinton Township, MI.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 3,693‑square‑foot restaurant property on 0.73 acres; Existing Zorba's Family Restaurant operation; On‑site parking included
