Remodeled Conventional Restaurant
For Sale
$549,900
74 N Washington St, Oxford, MI 48371
Restaurant-configured property with commercial hood, security systems, and rear cement parking.
Property Size1,967 SF
Price / SF$279.56
Days on Market87
Property Features for 74 N Washington St
General Information
Standard status
Active
Size
1,967 SF
Restaurant
Commercial Hood
Yes
Equipment Included
No
Amenities
security system
flagpole
awnings
Building Details
Year Built
2001
Buildings
1
Stories
2
Listing Agency:
DRC of Michigan Realty, LLC
Listed By:
Dave Chopp · License #6501351378
(517) 404-6808
Source:
Katie-k
Added: Jul 20
Changed: Oct 9
Last Checked: Oct 7 at 4:35PM
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 DRC of Michigan Realty, LLC
Investment Insights
Based on property information with market context.
This conventional restaurant property at 74 N Washington Street has been remodeled and updated within the past two years. The building provides 2,000 SF on the main level plus 1,560 sq-ft upstairs, for a total of 3,560 sq-ft. The ground floor features an open layout, while the upper level includes a private office and separate storage area. Restaurant improvements include a 20ft cooking hood, commercial stainless-steel sinks, LED lighting, fresh paint, and updated finishes. Equipment is excluded from the sale but may be negotiable.
Exterior improvements include a Duro-Last roof, new gutters and downspouts, fresh paint, and awnings at the front and rear. A cement parking lot occupies the rear of the property. Security features include monitored alarm service, building surveillance, interior and exterior cameras, panic buttons, and fobs. A flagpole is also located on the property.
Exterior improvements include a Duro-Last roof, new gutters and downspouts, fresh paint, and awnings at the front and rear. A cement parking lot occupies the rear of the property. Security features include monitored alarm service, building surveillance, interior and exterior cameras, panic buttons, and fobs. A flagpole is also located on the property.
Key Highlights
- 2,000 SF main level plus 1,560 sq‑ft upstairs; total building area of 3,560 sq‑ft
- Remodeled and updated within the past two years for restaurant use
- 20ft cooking hood and commercial stainless‑steel sinks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,699
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,980
$594.0K
Cap Rate 7%
$424,271
$424.3K
Cap Rate 9%
$329,989
$330.0K
Market Conditions
NOI Build-Up for 1,967 SF
Gross rent
$42.5K $21.60/SF
− Vacancy
−$2.9K −$1.47/SF
EGI
$39.6K $20.13/SF
− OpEx
−$9.9K −$5.03/SF
NOI
$29.7K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,980
Cap Rate 7%
$424,271
Cap Rate 9%
$329,989
Alternative Uses
Best Use
Specialty Retail
$424.3K
$371.2K – $495.0K
NOI $29,699 @ 7.0% cap · market cap 5.40%
Second Best
Industrial
$139.2K
$121.8K – $162.4K
NOI $9,746 @ 7.0% cap · market cap 1.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48371, MI
25,272
Population
9,928
Households
2.5
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
46.2 sq mi
ZIP Area
547
Density / Sq Mi
$108,983
Median Household Income
$52,606
Median Earnings
$1,244
Median Rent
$352,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant-configured property with commercial hood, security systems, and rear cement parking.
Where is this conventional restaurant located?
The property is located at 74 N Washington St Oxford, MI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,000 SF main level plus 1,560 sq‑ft upstairs; total building area of 3,560 sq‑ft; Remodeled and updated within the past two years for restaurant use; 20ft cooking hood and commercial stainless‑steel sinks
