Bar and Pub with Restaurant
New
For Sale
$1,400,000
7000 Merriman Road, Romulus, MI 48174
Established commercial venue near Detroit Metro Airport and the area’s hotel district.
Property Size3,982 SF
Days on Market6
Property Features for 7000 Merriman Road
General Information
Standard status
Active
Size
3,982 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$15,708
Building Details
Building Size
3,982 SF
Year Built
1999
Listing Agency:
New Michigan Realty, LLC
(586) 634-0365
Listed By:
Joseph Tinpan · License #6501306210
Source:
Irishhillsfivestarhomes
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 19 at 2:36PM
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 New Michigan Realty, LLC
Investment Insights
Based on property information with market context.
This bar and pub property includes restaurant space and was built in 1999. The commercial venue is located at 7000 Merriman Road in Romulus, Michigan, providing an established setting for continued bar and restaurant operations.
The property is near Detroit Metro Airport and the hotel district, placing it within a travel-oriented commercial area. Its existing bar-and-restaurant configuration supports a straightforward transition for an operator seeking a dedicated hospitality venue.
The property is near Detroit Metro Airport and the hotel district, placing it within a travel-oriented commercial area. Its existing bar-and-restaurant configuration supports a straightforward transition for an operator seeking a dedicated hospitality venue.
Key Highlights
- Bar and pub property with restaurant space
- Built in 1999
- 7000 Merriman Road, Romulus, MI 48174
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
$51,607
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
3.69%
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%
$1,032,140
$1.0M
Cap Rate 7%
$737,243
$737.2K
Cap Rate 9%
$573,411
$573.4K
Market Conditions
NOI Build-Up for 3,982 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
$71.7K $18.00/SF
− Vacancy
−$2.9K −$0.72/SF
EGI
$68.8K $17.28/SF
− OpEx
−$17.2K −$4.32/SF
NOI
$51.6K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /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%
$1,032,140
Cap Rate 7%
$737,243
Cap Rate 9%
$573,411
Alternative Uses
Best Use
Specialty Retail
$737.2K
$645.1K – $860.1K
NOI $51,607 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
35k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Hotels & Casinos 26%
Dining 17%
Marathon Petroleum
Shops & Services
10,225 visits/mo
0.1 miles
Shell
Shops & Services
5,623 visits/mo
0.2 miles
Holiday Inn Express Romulus / Detroit Airport
Hotels & Casinos
5,198 visits/mo
0.5 miles
Public Service Credit Union
Shops & Services
4,334 visits/mo
0.4 miles
Americas Best Value Inn Romulus Detroit Airport
Hotels & Casinos
3,953 visits/mo
0.4 miles
Demographics for 48174, MI
33,683
Population
13,124
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
89%
High-School Grad
40.8 sq mi
ZIP Area
826
Density / Sq Mi
$65,675
Median Household Income
$41,186
Median Earnings
$1,053
Median Rent
$151,500
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.
Similar Off Market Nearby
- Capitol Bistro & Bar — 7600 Merriman Rd, Romulus, MI 48174
- Airport Wheat & Rye — 7000 Merriman Rd, Romulus, MI 48174
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established commercial venue near Detroit Metro Airport and the area’s hotel district.
Where is this bar & pub located?
The property is located at 7000 Merriman Road Romulus, MI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Bar and pub property with restaurant space; Built in 1999; 7000 Merriman Road, Romulus, MI 48174
