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    2701 Jefferson Ave Detroit, MI 48207

    For Sale
    $1,750,000

    High-yield pancake house, strong tenant.

    Property size:
    4,807 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a 4,807 square foot, single-tenant, net-leased restaurant property located at 2701 E Jefferson Ave, Detroit, MI 48207. The property, built in 1915, sits on a 0.8-acre lot and boasts 66 parking spaces. Currently operating as a Detroit House of Pancakes franchise, the property enjoys 100% occupancy under a 10-year lease (commencing September 1, 2020, and expiring August 31, 2030), with six years remaining. The lease includes two five-year renewal options, with a 10% rent increase in year six and each option period. The property's Net Operating Income (NOI) is $120,000, resulting in a compelling 6.86% capitalization rate. The asking price is $1,750,000. The property is zoned B4 and benefits from its prime location in the Rivertown Warehouse District on Detroit's East Jefferson Corridor, a densely populated area with over 69,000 residents within a three-mile radius. Its proximity to major venues like Comerica Park, Little Caesars Arena, Ford Field, and GM Headquarters adds significant value. This is a rare opportunity to acquire a stable, high-performing asset with a strong franchise tenant and significant upside potential. The lease is a triple-net (NNN) lease, meaning the tenant is responsible for all operating expenses, providing the landlord with minimal responsibilities. The lease includes a personal guarantee from the franchisee.

    Property Features for 2701 Jefferson Ave

    General Information

    Property type
    Restaurants
    Square Feet
    4,807 SF
    Lot Size
    34,848 SF

    Building Details

    Year Built
    1915
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Triple‑Net (NNN) lease; tenant responsible for all operating expenses.
    • Rivertown Warehouse District location on Detroit's East Jefferson Corridor.
    • High‑density population area: over 69,000 residents within 3 miles.
    • Close proximity to major Detroit venues including Comerica Park, Little Caesars Arena, Ford Field, and GM Headquarters.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Detroit House of Pancakes Breakfast Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0213875
    Latitude
    42.3391101

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    FAQs

    What type of property is this?
    Restaurant - High-yield pancake house, strong tenant.
    Where is this restaurant located?
    The property is located at 2701 Jefferson Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Triple-Net (NNN) lease; tenant responsible for all operating expenses.; Rivertown Warehouse District location on Detroit's East Jefferson Corridor.; High-density population area: over 69,000 residents within 3 miles.
    Request Owner's contact information
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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
    2701 Jefferson Ave Detroit, MI 48207
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