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    808 State St Ann Arbor, MI 48104

    Sponsored
    For Sale
    $1,200,000

    Established eatery, prime location, high growth potential.

    Property size:
    986 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Own a piece of Ann Arbor history with this established restaurant, Mr. Spots, located at 808 S. State St., Ann Arbor, MI 48104. This 986 square foot, single-story business boasts a rich 37-year history, serving iconic Philly cheesesteaks, chicken wings, and waffle fries. Its prime location near the University of Michigan's Central Campus and downtown Ann Arbor ensures consistent customer traffic. The business operates under a NNN lease. The asking price is $1,200,000, translating to $1,217.04 per square foot. Significant growth potential exists due to the business's strong reputation, high-quality ingredients, and stable management. Further growth could be achieved through minor upgrades and increased social media presence. The area is experiencing significant development, including new residential complexes and high-rise buildings, promising increased foot traffic and revenue opportunities. This is an owner/user investment opportunity. This well-loved community establishment, even frequented by sports legends, offers a solid foundation for continued success and expansion. Don't miss this chance to acquire a thriving business in a vibrant and growing area.

    Property Features for 808 State St

    General Information

    Property type
    Investment properties
    Square Feet
    986 SF

    Building Details

    Stories
    1

    HighLights

    • Asking Price: $1,200,000
    • Property Type: Established Restaurant Business for Sale, 986 SF, Ann Arbor, MI
    • Location: 808 S State St, Ann Arbor, MI 48104, near University of Michigan's Central Campus
    • Lease Type: NNN, Single Tenancy
    • Price per Square Foot: $1,217.04
    Property Profile Location Intelligence

    Current Use by Public Records

    Mister Spots Ann ... Fast Food Restaurant

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7408622
    Latitude
    42.2716008

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    FAQs

    What type of property is this?
    Investment property - Established eatery, prime location, high growth potential.
    Where is this investment property located?
    The property is located at 808 State St Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Asking Price: $1,200,000; Property Type: Established Restaurant Business for Sale, 986 SF, Ann Arbor, MI; Location: 808 S State St, Ann Arbor, MI 48104, near University of Michigan's Central Campus
    (734) 994-3100
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    Ann Arbor, MI 48104
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    808 State St Ann Arbor, MI 48104
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