8848 Joseph Campau St Hamtramck, MI 48212
- Bars
- 3,708 SF
- 0.09 lot acres
Current Use by Public Records
- Bars
Property Details for 8848 Joseph Campau St
- Year built
- 1941
- Lot size
- 0.09 lot acres
- Property size
- 3,708 SF
- Property type
- Bars
- APN
- 41 005 08 0007 000
- APU
- 41005080007000
Description
This exceptional opportunity presents the chance to acquire the renowned New Dodge Lounge in the heart of Hamtramck, Michigan. This fully operational bar and lounge boasts a substantial 4,522 square feet of space, perfectly configured for immediate operation. The main floor encompasses a well-established bar, a stage ideal for live entertainment, a dedicated game room for added customer engagement, restrooms, and ample back-of-house areas for efficient operations. Adding to its versatility, a 742-square-foot mezzanine provides extra seating capacity, enhancing the venue's overall guest experience. A sizable 1,914-square-foot basement offers extensive storage solutions, addressing the operational needs of a thriving establishment. The sale includes not only the physical building situated on a 0.09-acre lot, but also the valuable New Dodge Lounge brand name, ensuring immediate brand recognition and customer loyalty. Crucially, a Class C liquor license is included, eliminating a significant hurdle for new ownership. This turnkey operation is ready for a new owner to step in and continue its successful legacy. This is an exceptional investment opportunity for both owner-operators seeking a profitable venture and investors looking for a strong return on investment in a vibrant and established location. The property is priced at $600,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $350,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $315,000
- 6.5%
- $325,000
- 7%
- $340,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $290,000
- Geo Method
- $375,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $420,000
- Retail
- $340,000
- Mixed-Use
- $360,000
- Hospitality
- $420,000
- Educational
- $355,000
- Residential Income
- $395,000
- Energy
- $345,000
- Income-Based Land
- $390,000
- Food Service
- $385,000
Location Insight
- Map
- Local Demand
- City
- Hamtramck
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0536
- Latitude
- 42.391
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
