37116 Groesbeck HwyClinton Township, MI 48036

Property Details for 37116 Groesbeck Hwy

Year built

1972

Lot size

0.74 AC

Property size (Sq ft)

3,693 SF

Zone code

OS-1

Property type

Retail properties

Property subtype

Turn key restaurants

APN

16-11-22-352-027

APU

161122352027

Description

This exceptional restaurant opportunity is located at 37116 S Groesbeck Hwy in Clinton Township, Macomb County, Michigan, 48036. The property boasts 3,693 square feet situated on a 0.735-acre lot. Currently operating as Zorba's, a family-run restaurant since 2001, this turnkey business offers immediate income potential. All fixtures and equipment are included in the sale, with a detailed list available upon request. The asking price is $925,000. The property benefits from excellent exposure and a high traffic count, making it an ideal location for a thriving restaurant. The property's strategic location is further enhanced by its proximity to Parkway Shopping Plaza, which is currently undergoing revitalization with new tenant acquisitions. This presents a significant opportunity for synergistic growth and increased customer traffic. The single-unit property is classified as retail, specifically a restaurant, and presents a rare chance to acquire an established business with significant upside potential in a desirable location. This is a fantastic opportunity for an experienced restaurateur or an investor seeking a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,129,092

  6.5%

  $1,042,239

  7%

  $967,794

• Comparable approach

  Method

  Valuation

  Relative Method

  $870,517

  Geo Method

  $870,517

• Alternative Use

  Use

  Valuation

  Residential

  $879,168

  Hospitality

  $805,313

  Educational

  $670,011

  Medical

  $693,054

  Retail

  $1,042,239

Location Insight

City

Clinton Township

County

Macomb

State

Michigan

Latitude

42.571

Longitude

-82.9102

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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