Dual-Concept Restaurant
For Sale
$2,300,000
45225 Marketplace Boulevard, Chesterfield, MI 48051
Fully built commercial kitchen and separate entrances support flexible restaurant operations.
Property Size7,317 SF
Days on Market91
Property Features for 45225 Marketplace Boulevard
General Information
Standard status
Active
Size
7,317 SF
Property subtype
Retail
Restaurant
Equipment Included
Yes
Liquor License
Yes
Additional Details
Furnished
Yes
Building Details
Building Size
7,317 SF
Year Built
2005
Listing Agency:
(248) 406-7111
Listed By:
Matthew Berke
Source:
Keystonecres
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 3:30PM
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 Matthew Berke
Investment Insights
Based on property information with market context.
This restaurant property combines two distinct operating areas with separate entrances and a shared commercial kitchen. The layout includes a former brunch space and bar, creating a built-out hospitality configuration that can accommodate complementary concepts or a single operator. Furniture, fixtures, and equipment are included, along with a Class C liquor license.
The property is located at 45225 Marketplace Boulevard in Chesterfield, Michigan, within the Chesterfield Corners retail corridor. Frontage and visibility along Marketplace Boulevard support customer access, while on-site parking serves the facility. Nearby national co-tenancy includes Jax Kar Wash, Walmart, and Menards, with residential density surrounding the corridor. Built in 2005, the property is suited to restaurant operators, investors, or a sale-leaseback structure.
The property is located at 45225 Marketplace Boulevard in Chesterfield, Michigan, within the Chesterfield Corners retail corridor. Frontage and visibility along Marketplace Boulevard support customer access, while on-site parking serves the facility. Nearby national co-tenancy includes Jax Kar Wash, Walmart, and Menards, with residential density surrounding the corridor. Built in 2005, the property is suited to restaurant operators, investors, or a sale-leaseback structure.
Key Highlights
- Dual‑concept restaurant layout with separate entrances
- Shared fully built commercial kitchen
- Former brunch space and bar configuration
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
$95,890
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
4.17%
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%
$1,917,800
$1.9M
Cap Rate 7%
$1,369,857
$1.4M
Cap Rate 9%
$1,065,444
$1.1M
Market Conditions
NOI Build-Up for 7,317 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
$144.9K $19.80/SF
− Vacancy
−$17.0K −$2.33/SF
EGI
$127.9K $17.47/SF
− OpEx
−$32.0K −$4.37/SF
NOI
$95.9K $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%
$1,917,800
Cap Rate 7%
$1,369,857
Cap Rate 9%
$1,065,444
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $95,890 @ 7.0% cap · market cap 4.17%
Second Best
Industrial
$563.6K
$493.2K – $657.6K
NOI $39,454 @ 7.0% cap · market cap 1.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
381k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Dining 35%
Home Improvements & Furnishings 14%
Shops & Services 13%
Walmart
Superstores
136,600 visits/mo
0.3 miles
Menards
Home Improvements & Furnishings
55,239 visits/mo
0.4 miles
McDonald's
Dining
25,243 visits/mo
0.4 miles
7-Eleven
Shops & Services
22,740 visits/mo
0.2 miles
Starbucks
Dining
21,764 visits/mo
0.1 miles
Demographics for 48051, MI
17,718
Population
7,255
Households
2.4
Avg Household Size
40
Median Age
24%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
1,248
Density / Sq Mi
$89,923
Median Household Income
$50,569
Median Earnings
$1,064
Median Rent
$247,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully built commercial kitchen and separate entrances support flexible restaurant operations.
Where is this conventional restaurant located?
The property is located at 45225 Marketplace Boulevard Chesterfield, MI.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Dual‑concept restaurant layout with separate entrances; Shared fully built commercial kitchen; Former brunch space and bar configuration
