Remodeled Restaurant and Office
For Sale
Contact for pricing
74 N WASHINGTON Street, Oxford, MI 48371
Remodeled restaurant space with a high-efficiency hood, parking, and a private upstairs office for flexible operations.
Property Size1,967 SF
Price / SF$279.56
Days on Market212
Property Features for 74 N WASHINGTON Street
General Information
Standard status
Active
Size
1,967 SF
Property subtype
Land
Building Details
Year Built
2001
Listing Agency:
DRC of Michigan Realty, LLC
(517) 404-6808
Listed By:
Dave Chopp · License #6501351378
Source:
Crexi
Added: Jan 9
Changed: Aug 8
Last Checked: Aug 5 at 10:50AM
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 impeccably maintained commercial building has been remodeled and updated throughout within the last two years and is currently set up for restaurant use. Inside, the main level offers an open floor plan designed for service and operations. The property also includes a separate upstairs area with a private office workspace and an additional storage area, with the option to build out further office space or maintain locked storage. Upgraded improvements include a new 20-foot high efficient cooking hood, commercial stainless-steel sinks, fresh paint, and LED lighting. The exterior has also been refreshed with a high-quality Duro-Last® roof, newly installed gutters and downspouts, and brand-new awnings on the front and back.
The rear of the property features a spacious cement parking lot to support customer and employee parking. A prominent flagpole is present on-site, and the building includes an advanced monitored alarm system with full building surveillance, including in-and-out cameras, panic buttons, and fobs.
For prospective tenants or buyers, the combination of a ready-to-reopen restaurant configuration and an upstairs office makes the building well-suited for operators who want an integrated workspace. Equipment is not included in the sale, but it is described as negotiable. The listing notes that the restaurant could be reopened within 1 to 2 months.
The rear of the property features a spacious cement parking lot to support customer and employee parking. A prominent flagpole is present on-site, and the building includes an advanced monitored alarm system with full building surveillance, including in-and-out cameras, panic buttons, and fobs.
For prospective tenants or buyers, the combination of a ready-to-reopen restaurant configuration and an upstairs office makes the building well-suited for operators who want an integrated workspace. Equipment is not included in the sale, but it is described as negotiable. The listing notes that the restaurant could be reopened within 1 to 2 months.
Key Highlights
- Remodeled commercial building (2001) set up as a restaurant with an open main‑level floor plan
- High‑efficiency 20‑ft cooking hood plus commercial SS sinks; fresh paint and LED lighting installed within the past 2 years
- Duro‑Last® roof; newly installed gutters and downspouts; freshly painted exterior and brand new front and back awnings
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
$29,699
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
5.40%
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%
$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
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
$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 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%
$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
Office B
$96.7K
$84.6K – $112.9K
NOI $6,771 @ 7.0% cap · market cap 1.23%
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
575
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
Market
Vacancy Rate% for Office 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 - Remodeled restaurant space with a high-efficiency hood, parking, and a private upstairs office for flexible operations.
Where is this conventional restaurant located?
The property is located at 74 N WASHINGTON Street 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: Remodeled commercial building (2001) set up as a restaurant with an open main‑level floor plan; High‑efficiency 20‑ft cooking hood plus commercial SS sinks; fresh paint and LED lighting installed within the past 2 years; Duro‑Last® roof; newly installed gutters and downspouts; freshly painted exterior and brand new front and back awnings
