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    2563 Ellsworth Rd Ypsilanti, MI 48197

    For Sale
    $179,800

    Established eatery, high income potential, immediate occupancy.

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional turnkey restaurant opportunity is located at 2563 Ellsworth Rd, Ypsilanti Township, MI 48197. The 3,000 square foot space is situated in a busy strip center, offering convenient access and high visibility. Currently operating as a successful breakfast and lunch coney island restaurant, this property boasts a strong track record, generating a monthly income between $43,000 and $45,000. The business has been family-owned and operated for over 18 years, and the owner is now retiring, presenting a unique chance for a new owner to step in. The restaurant features a large dining area, a walk-in cooler, a walk-in freezer, a dedicated dishwashing station, and a cashier area. Recent renovations include new flooring, booths, and tables (all completed in 2021), along with fresh paint. The end-unit location within the strip center provides excellent exposure, and ample parking is available for customers. The property is offered at an asking price of $179,800 with a gross lease in place for a remaining term of four years. The current occupancy is 100%. Significant upside potential exists by expanding hours to include dinner service. Please note that all financial data is approximate. This is a rare opportunity to acquire a profitable, established business with significant growth potential.

    Property Features for 2563 Ellsworth Rd

    General Information

    Property type
    Specialty properties
    Square Feet
    3,000 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sinbad's Koney Island American Restaurant Cheesesteak Daddy Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.6501168
    Latitude
    42.2299734

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    FAQs

    What type of property is this?
    Specialty property - Established eatery, high income potential, immediate occupancy.
    Where is this specialty property located?
    The property is located at 2563 Ellsworth Rd Ypsilanti, MI.
    What is the asking price?
    The asking price for this property is $179,800.
    Request Owner's contact information
    2563 Ellsworth Rd Ypsilanti, MI 48197
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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
    2563 Ellsworth Rd Ypsilanti, MI 48197
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