Neighborhood Bar With Live
For Sale
$799,000
844 E 10 Mile Road, Hazel Park, MI 48030
Established tavern space with a full-service bar, kitchen, indoor seating, and outdoor gathering area.
Property Size2,629 SF
Days on Market75
Property Features for 844 E 10 Mile Road
General Information
Standard status
Active
Size
2,629 SF
Property subtype
Commercial
Zoning
Commercial, Light Industry, Multiple
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$8,655
Building Details
Building Size
2,629 SF
Year Built
1959
Stories
1
Listing Agency:
Match Realty
(313) 627-1819
Listed By:
Katie Wheeler · License #6501400563
(313) 627-1819
Source:
Phgrealty
Added: Jun 15
Changed: Aug 28
Last Checked: Aug 28 at 9:59AM
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 Match Realty
Investment Insights
Based on property information with market context.
This bar and live music venue at 844 E 10 Mile Road includes a full-service bar, kitchen facilities, indoor seating, and outdoor gathering space. The existing layout supports food and beverage service alongside live entertainment and community events. The building dates to 1959 and is identified for Commercial, Light Industry, and Multiple zoning categories.
Positioned on 10 Mile Road in Hazel Park, the property offers direct exposure along a local commercial corridor and access to major Metro Detroit routes. Its current configuration is suited to continued operation as a neighborhood tavern and entertainment venue, while the existing bar, kitchen, seating, and outdoor areas provide a foundation for an alternative hospitality concept.
Positioned on 10 Mile Road in Hazel Park, the property offers direct exposure along a local commercial corridor and access to major Metro Detroit routes. Its current configuration is suited to continued operation as a neighborhood tavern and entertainment venue, while the existing bar, kitchen, seating, and outdoor areas provide a foundation for an alternative hospitality concept.
Key Highlights
- Full‑service bar with kitchen facilities
- Indoor seating plus outdoor gathering space
- Configured for live music and community events
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
$39,694
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
4.97%
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%
$793,880
$793.9K
Cap Rate 7%
$567,057
$567.1K
Cap Rate 9%
$441,044
$441.0K
Market Conditions
NOI Build-Up for 2,629 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
$56.8K $21.60/SF
− Vacancy
−$3.9K −$1.47/SF
EGI
$52.9K $20.13/SF
− OpEx
−$13.2K −$5.03/SF
NOI
$39.7K $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%
$793,880
Cap Rate 7%
$567,057
Cap Rate 9%
$441,044
Alternative Uses
Best Use
Specialty Retail
$567.1K
$496.2K – $661.6K
NOI $39,694 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
150k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Groceries 36%
Shops & Services 18%
Beauty & Spa 1%
Kroger
Groceries
54,587 visits/mo
0.5 miles
McDonald's
Dining
22,311 visits/mo
0.5 miles
Tim Hortons
Dining
15,379 visits/mo
0.5 miles
Taco Bell
Dining
13,560 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,531 visits/mo
0.5 miles
Demographics for 48030, MI
14,983
Population
7,149
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
2.8 sq mi
ZIP Area
5,351
Density / Sq Mi
$62,878
Median Household Income
$42,374
Median Earnings
$1,221
Median Rent
$141,200
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?
Bar & Pub - Established tavern space with a full-service bar, kitchen, indoor seating, and outdoor gathering area.
Where is this bar & pub located?
The property is located at 844 E 10 Mile Road Hazel Park, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Full‑service bar with kitchen facilities; Indoor seating plus outdoor gathering space; Configured for live music and community events
