Established Food Truck Restaurant
For Sale
Contact for pricing
3929 Cass Avenue, Detroit, MI 48201
Business sale includes a fully equipped food truck, franchise, and transferable leased-lot arrangement subject to approval.
Property Size2,457 SF
Price / SF$154.62
Days on Market17
Property Features for 3929 Cass Avenue
General Information
Standard status
Active
Size
2,457 SF
Property subtype
Business for Sale, Retail
Net Operating Income
$170,000
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
1948
Listing Agency:
Keller Williams Legacy
(313) 482-8893
Listed By:
Hiam Harb · License #6501444350
Source:
Crexi
Added: Aug 5
Changed: Aug 15
Last Checked: Aug 20 at 8:36AM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This offering covers the operating food truck business only; no real estate is included. The sale includes a large, fully equipped food truck, the associated franchise, and the established business operations.
The truck operates from a rented lot, with the lease available for transfer to the purchaser subject to landlord approval and the existing lease terms. The business includes existing revenue and operations for a new owner to continue.
The truck operates from a rented lot, with the lease available for transfer to the purchaser subject to landlord approval and the existing lease terms. The business includes existing revenue and operations for a new owner to continue.
Key Highlights
- Business‑only sale; no real estate included
- Large, fully equipped food truck included
- Franchise included with the business
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
$32,424
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
8.53%
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%
$648,480
$648.5K
Cap Rate 7%
$463,200
$463.2K
Cap Rate 9%
$360,267
$360.3K
Market Conditions
NOI Build-Up for 2,457 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
$45.7K $18.60/SF
− Vacancy
−$2.5K −$1.00/SF
EGI
$43.2K $17.60/SF
− OpEx
−$10.8K −$4.40/SF
NOI
$32.4K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$648,480
Cap Rate 7%
$463,200
Cap Rate 9%
$360,267
Alternative Uses
Best Use
Specialty Retail
$463.2K
$405.3K – $540.4K
NOI $32,424 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$542.0K
$474.3K – $632.4K
NOI $37,942 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,532
Businesses Nearby
146k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Groceries 29%
Shops & Services 29%
Apparel 8%
Whole Foods Market
Groceries
42,654 visits/mo
0.4 miles
McDonald's
Dining
31,104 visits/mo
0.3 miles
Shell
Shops & Services
13,363 visits/mo
0.4 miles
Shinola
Apparel
9,011 visits/mo
0.2 miles
Condado Tacos
Dining
7,597 visits/mo
0.1 miles
Demographics for 48201, MI
14,500
Population
9,900
Households
1.5
Avg Household Size
33
Median Age
37%
College-Educated
88%
High-School Grad
1.9 sq mi
ZIP Area
7,632
Density / Sq Mi
$24,392
Median Household Income
$36,835
Median Earnings
$841
Median Rent
$401,500
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Business sale includes a fully equipped food truck, franchise, and transferable leased-lot arrangement subject to approval.
Where is this conventional restaurant located?
The property is located at 3929 Cass Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Business‑only sale; no real estate included; Large, fully equipped food truck included; Franchise included with the business
