Burger King Restaurant For
For Sale
Contact for pricing
837 W Chicago Blvd, Tecumseh, MI 49286
Net-leased Burger King property with a long-term tenant.
Property Size2,850 SF
Price / SF$385.96
Days on Market932
Property Features for 837 W Chicago Blvd
General Information
Standard status
Active
Size
2,850 SF
Class
A
Property subtype
Retail
Zoning
B-3
Building Details
Year Built
2002
Listing Agency:
The Jonna Group at Colliers International
(248) 226-1611
Listed By:
Simon Jonna · License #MI 6501357188
Source:
Crexi
Added: Jan 31, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:04AM
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 The Jonna Group at Colliers International
Investment Insights
Based on property information with market context.
A Burger King restaurant located at 837 Chicago Ave in Tecumseh, MI, is available for purchase. The property is a net-leased QSR (Quick Service Restaurant). The building has been occupied by a tenant since 2002, presenting a long-term investment opportunity. The property size is 2850 square feet.
Key Highlights
- Net‑leased QSR property provides a solid investment opportunity.
- Tenant, a Burger King franchise, has been in place since 2002, indicating stability.
- Located on 837 Chicago Ave in Tecumseh, MI.
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
$31,699
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
2.88%
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%
$633,980
$634.0K
Cap Rate 7%
$452,843
$452.8K
Cap Rate 9%
$352,211
$352.2K
Market Conditions
NOI Build-Up for 2,850 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
$44.1K $15.48/SF
− Vacancy
−$1.9K −$0.65/SF
EGI
$42.3K $14.83/SF
− OpEx
−$10.6K −$3.71/SF
NOI
$31.7K $11.12/SF
Area
Lenawee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$633,980
Cap Rate 7%
$452,843
Cap Rate 9%
$352,211
Alternative Uses
Best Use
Specialty Retail
$452.8K
$396.2K – $528.3K
NOI $31,699 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$35.36M
$30.94M – $41.25M
NOI $2,475,170 @ 7.0% cap · market cap 225.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 49286, MI
14,991
Population
6,144
Households
2.4
Avg Household Size
45
Median Age
27%
College-Educated
95%
High-School Grad
58.2 sq mi
ZIP Area
258
Density / Sq Mi
$73,054
Median Household Income
$37,480
Median Earnings
$954
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Retail 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?
Drive through restaurant - Net-leased Burger King property with a long-term tenant.
Where is this drive through restaurant located?
The property is located at 837 W Chicago Blvd Tecumseh, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Net‑leased QSR property provides a solid investment opportunity.; Tenant, a Burger King franchise, has been in place since 2002, indicating stability.; Located on 837 Chicago Ave in Tecumseh, MI.
