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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10617 Jefferson Ave River Rouge, MI 48218-1229

    • Turn key restaurants
    • 1,716 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Apr 08, 2021
    $250,000
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-5175539
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 10617 Jefferson Ave

    Year built
    1930
    Lot size
    0.09 lot acres
    Property size
    1,716 SF
    Zone code
    B1 CEN
    Property type
    Turn key restaurants
    APN
    50 008 09 0016 002
    APU
    50008090016002

    Description

    This exceptional 1,710 square foot restaurant building is available for sale at 10617 W Jefferson Ave, River Rouge, MI 48218. Located in Wayne County, this single-tenant property presents a fantastic investment opportunity. The building is zoned B1 CEB, offering flexibility for various commercial uses. The property's prime location ensures high visibility and accessibility, attracting a steady stream of customers. The existing restaurant setup provides a turnkey operation, minimizing initial setup costs and allowing for immediate revenue generation. The property features a total of 1,710 square feet of well-maintained space, ideal for a thriving culinary business. The property's parcel number is 50-008-09-0016-002. This is a rare chance to acquire a well-established restaurant in a desirable location with significant growth potential. The building's condition and layout are conducive to a seamless transition for a new owner. Serious inquiries are encouraged to explore this lucrative investment prospect further. The property is ready for immediate occupancy, offering a swift return on investment. Don't miss this opportunity to own a thriving business in a high-traffic area. The property's strategic location and existing infrastructure make it an attractive proposition for both seasoned restaurateurs and new entrepreneurs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $155,000
      Current use
      COMMERCIAL (GENERAL)
      $155,000
      Change: +0% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    River Rouge
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1342
    Latitude
    42.2725
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,054
    $0.00
    $0.00
    $19,700
    -
    $0.00
    $0.00
    $39,400

    Comparable in this City

    • Value Estimation by Request
      1,236 SF

      11026 Jefferson Ave

      RESTAURANT • 1,236 SF
      11026 Jefferson Ave, River Rouge, MI 48218-1208
      View Details
    • Value Estimation by Request
      1,780 SF

      11295 Jefferson Ave

      RESTAURANT • 1,780 SF
      11295 Jefferson Ave, River Rouge, MI 48218-1209
      View Details
    • Value Estimation by Request
      1,200 SF

      196 Visger Rd

      RESTAURANT • 1,200 SF
      196 Visger Rd, River Rouge, MI 48218-1158
      View Details
    • Value Estimation by Request
      3,000 SF

      184 Visger Rd

      RESTAURANT • 3,000 SF
      184 Visger Rd, River Rouge, MI 48218-1159
      View Details
    • Value Estimation by Request
      2,196 SF

      11192 Jefferson Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,196 SF
      11192 Jefferson Ave, River Rouge, MI 48218-1269
      View Details
    • Value Estimation by Request
      2,700 SF

      10880 Jefferson Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,700 SF
      10880 Jefferson Ave, River Rouge, MI 48218-1373
      View Details

    Similar Nearby for Sale

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      River Rouge Retail Opportunity

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      Turnkey Retail Opportunity in River Rouge

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      View Details
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    10617 Jefferson Ave
    River Rouge, MI 48218-1229
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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