Property profile

23594 Hoover Rd Warren, MI 48089

FOR SALE
Turn key restaurants
Property ID
US43-0138468
2,316 SF 0.49 ac lot Built 1950
Entity Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 1,433-square-foot warehouse, located at 23594 Hoover Rd in Warren, Michigan (zip code 48089), presents a compelling investment opportunity. Priced at $450,000 ($314.03 per square foot), this property boasts a highly desirable M2 zoning designation, opening doors to a variety of commercial uses. The building itself is fully operational, having undergone recent interior and exterior remodeling. Ample parking is available on-site, enhancing its practicality and appeal. A significant advantage is the inclusion of a separate 864-square-foot outbuilding, providing additional space and further parking capacity. This versatile property is situated in Macomb County, Michigan, and its location offers convenient access to major transportation routes and amenities. The property's recent renovations ensure a move-in ready condition, minimizing upfront investment and maximizing immediate return. This is an ideal opportunity for investors seeking a well-maintained, functional warehouse with significant expansion potential in a thriving commercial area. The property's size, zoning, and additional outbuilding make it a truly unique and attractive offering.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1950
Total area 2,316 SF
Lot 0.49 ac (21,562 SF)
Zoning code M-2
APN 12-13-26-303-046
UPID US43-0138468

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

23594 Hoover Rd Warren, MI 48089
Warren metro Census 268400 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$220k

Owner & transaction history

since 2020
Last sale
$200,000
3 recorded transactions
2020
$200,000
2020
Price N/A
2002
Price N/A

Zoning & alternative use

M-2 · Warren, MI
Zoning description

M-1 and M-2. Section 4A.14 (b) - Prohibited Signs: Exterior rope lighting, except temporary lighting. Chairman Sophiea said good evening. CITY OF WARREN ZONING BOARD OF APPEALS Minutes of August 13, 2025 Page 12 Sarah Mh…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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