Turnkey Restaurant with Liquor
For Sale
Contact for pricing
8140 MICHIGAN AVE, Detroit, MI 48226
Turnkey restaurant space includes a Wayne County Class C liquor license already attached to the building.
Property Size4,300 SF
Price / SF$302.33
Days on Market87
Property Features for 8140 MICHIGAN AVE
General Information
Standard status
Active
Size
4,300 SF
Class
Class C
Property subtype
Retail, Hospitality, Business for Sale
Zoning
Commercial
Investment Type
Owner/User
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
1951
Stories
1
Units
1
Listing Agency:
New Michigan Realty
(248) 756-2833
Listed By:
Joe Tinpan · License #6506049115
Source:
Crexi
Added: May 29
Changed: Aug 21
Last Checked: Aug 21 at 10:08PM
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
Investment Insights
Based on property information with market context.
This turnkey restaurant property comes fully built out with an operational commercial kitchen designed to support day-to-day food service. The space is offered for sale as a ready-to-operate concept, with the necessary kitchen improvements already in place.
Located at 8140 Michigan Ave in Detroit, the property is positioned along Michigan Avenue, providing a direct storefront-focused commercial setting for a new operator.
For a restaurateur or buyer ready to open with minimal additional interior work, the included Wayne County Class C liquor license attached to the building is a key operational factor. This combination of a built-out kitchen and an existing license can streamline the path to launching a bar-and-grill or restaurant concept within a restaurant-ready facility.
Located at 8140 Michigan Ave in Detroit, the property is positioned along Michigan Avenue, providing a direct storefront-focused commercial setting for a new operator.
For a restaurateur or buyer ready to open with minimal additional interior work, the included Wayne County Class C liquor license attached to the building is a key operational factor. This combination of a built-out kitchen and an existing license can streamline the path to launching a bar-and-grill or restaurant concept within a restaurant-ready facility.
Key Highlights
- Turnkey restaurant space with a fully built‑out kitchen
- Wayne County Class C liquor license included and already attached to the building
- Property built in 1951
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
$56,746
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
4.37%
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%
$1,134,920
$1.1M
Cap Rate 7%
$810,657
$810.7K
Cap Rate 9%
$630,511
$630.5K
Market Conditions
NOI Build-Up for 4,300 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
$80.0K $18.60/SF
− Vacancy
−$4.3K −$1.00/SF
EGI
$75.7K $17.60/SF
− OpEx
−$18.9K −$4.40/SF
NOI
$56.7K $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%
$1,134,920
Cap Rate 7%
$810,657
Cap Rate 9%
$630,511
Alternative Uses
Best Use
Specialty Retail
$810.7K
$709.3K – $945.8K
NOI $56,746 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$948.6K
$830.0K – $1.11M
NOI $66,402 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
45k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 22%
Home Improvements & Furnishings 5%
Electronics 5%
Little Caesars Pizza
Dining
9,680 visits/mo
0.2 miles
Citgo
Shops & Services
8,129 visits/mo
0.1 miles
Family Dollar
Shops & Services
7,405 visits/mo
0.0 miles
Sunoco
Shops & Services
6,073 visits/mo
0.2 miles
Comerica Bank
Shops & Services
4,382 visits/mo
0.2 miles
Demographics for 48226, MI
6,307
Population
5,160
Households
1.2
Avg Household Size
37
Median Age
53%
College-Educated
93%
High-School Grad
1.2 sq mi
ZIP Area
5,256
Density / Sq Mi
$69,813
Median Household Income
$60,957
Median Earnings
$1,714
Median Rent
$307,700
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?
Bar & Pub - Turnkey restaurant space includes a Wayne County Class C liquor license already attached to the building.
Where is this bar & pub located?
The property is located at 8140 MICHIGAN AVE Detroit, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Turnkey restaurant space with a fully built‑out kitchen; Wayne County Class C liquor license included and already attached to the building; Property built in 1951
