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    Property profile & analytics

    2010 Springwells St Detroit, MI 48209-1863

    • Turn key restaurants
    • 1,092 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimation
    $345,000
    Last Sale
    Jan 04, 2023
    $300,000
    Location Intelligence
    Property ID
    US43-1082981
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Family Treats / Fast Food Restaurant

    Property Details for 2010 Springwells St

    Year built
    1961
    Lot size
    0.17 lot acres
    Property size
    1,092 SF
    Zone code
    B4
    Property type
    Turn key restaurants
    APN
    20005175-6
    APU
    200051756

    Description

    Prime Southwest Detroit location at 2010 Springwells St, this 1-story, 1,092 sq ft building (APN W20I005175C6) on a commercial lot offers a turnkey opportunity. Built in 1961, this well-maintained property includes a thriving ice cream shop established in 1957, boasting a 4.7-star Google rating from nearly 700 reviews. The business benefits from a loyal customer base and strong community presence, enhanced by its corner location and ample parking. The interior features excellent walk-in coolers and freezers, ensuring efficient operation. The business model extends beyond ice cream, incorporating successful past ventures like hot dogs and walking tacos, and utilizes DoorDash for delivery. This sale includes both the established business and the property, presenting a rare chance to acquire a profitable enterprise with significant growth potential in a desirable neighborhood. The asking price is $675,000.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $360,000

    • CAP approach

      CAP return
      Estimation
      6%
      $350,000
      6.5%
      $325,000
      7%
      $345,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $295,000
      Geo Method
      $340,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $295,000
      Retail
      $375,000
      Mixed-Use
      $305,000
      Hospitality
      $275,000
      Educational
      $310,000
      Residential Income
      $350,000
      Energy
      $355,000
      Income-Based Land
      $320,000
      Food Service
      $280,000

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1256
    Latitude
    42.3097
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $2,639
    $0.00
    $0.00
    $39,400
    -
    $0.00
    $0.00
    $78,800

    Comparable in this City

    • Value Estimation by Request
      6,558 SF

      1807 Livernois Ave

      RESTAURANT • 6,558 SF
      1807 Livernois Ave, Detroit, MI 48209-2070
      View Details
    • Value Estimation by Request
      1,840 SF

      1270 Springwells St

      RESTAURANT • 1,840 SF
      1270 Springwells St, Detroit, MI 48209-4609
      View Details
    • Value Estimation by Request
      7,914 SF

      5894 Vernor Hwy

      RESTAURANT • 7,914 SF
      5894 Vernor Hwy, Detroit, MI 48209-2160
      View Details
    • Value Estimation by Request
      9,472 SF

      1341 Springwells St

      RESTAURANT • 9,472 SF
      1341 Springwells St, Detroit, MI 48209-1931
      View Details
    • Value Estimation
      $795,000
      1,659 SF

      8429 Vernor Hwy

      RESTAURANT • 1,659 SF
      8429 Vernor Hwy, Detroit, MI 48209-3416
      View Details
    • Value Estimation by Request
      1,485 SF

      8928 Vernor Hwy

      RESTAURANT • 1,485 SF
      8928 Vernor Hwy, Detroit, MI 48209-1440
      View Details

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    Detroit, MI 48209-1863
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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
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