3251 Orchard Lake RdKeego Harbor, MI 48320

Property Details for 3251 Orchard Lake Rd

Year built

1958

Lot size

0.89 AC

Property size (Sq ft)

4,094 SF

Zone code

BI

Property type

Retail properties

Property subtype

Turn key restaurants

APN

36-18-02-479-065

APU

361802479065

Description

This exceptional turnkey restaurant opportunity in Keego Harbor, Michigan, presents a rare chance to acquire a well-established business with a rich history. Located at 3251 Orchard Lake Road, this single-story, 4,094 square foot building sits on a 0.89-acre lot, offering ample space for both indoor and outdoor operations. The property boasts a large bar and dining area with seating for up to 120 patrons, making it ideal for a variety of restaurant concepts. The building includes a functional basement area, adding to its versatility. The property benefits from a prime location on Orchard Lake Road and the added advantage of backing up to a park, providing a serene and attractive setting. The restaurant has been operating successfully for over 50 years under the same family ownership, demonstrating its enduring appeal and strong customer base. A significant asset is the inclusion of a valid liquor license, a valuable component for any restaurant business. The property features a newer HVAC system, ensuring efficient and comfortable operation. The asking price for this exceptional opportunity is $1,250,000. This is a unique chance to acquire a thriving business with significant potential for growth in a desirable location. Don't miss this chance to own a piece of Keego Harbor's history.

• CAP approach

  CAP return

  Valuation

  6%

  $1,030,240

  6.5%

  $950,991

  7%

  $883,063

• Comparable approach

  Method

  Valuation

  Relative Method

  $965,041

  Geo Method

  $965,041

• Alternative Use

  Use

  Valuation

  Residential

  $802,196

  Hospitality

  $734,807

  Educational

  $611,351

  Medical

  $632,376

  Retail

  $950,991

Location Insight

City

Keego Harbor

County

Oakland

State

Michigan

Latitude

42.6029

Longitude

-83.3482

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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