30685 12 Mile Rd Farmington Hills, MI 48334
- Turn key restaurants
- 3,292 SF
- 0.90 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 30685 12 Mile Rd
- Year built
- 1972
- Lot size
- 0.90 lot acres
- Property size
- 3,292 SF
- Zone code
- BI
- Property type
- Turn key restaurants
- APN
- 22-23-14-101-034
- APU
- 222314101034
Description
This vacant, 3,292 square foot restaurant building presents a compelling investment opportunity in Farmington Hills, Michigan. Located at 30685 W 12 Mile Rd, 48334, this property boasts a prime location in a busy retail corridor near Orchard Lake Road and I-696, ensuring high visibility and accessibility. The building, constructed in 1972 and extensively renovated in 2020, features a completely updated interior including a new kitchen and bar, capable of seating over 110 patrons. All furniture, fixtures, and equipment (FF&E) are included in the sale price of $975,000 ($296.17/sq ft). The 0.899-acre lot provides ample parking for 70 vehicles, and the property benefits from prominent monument signage. The B-3 zoning permits restaurant use. Its proximity to two hotels further enhances its potential. This turnkey operation is ideal for owner-users seeking a well-established, fully equipped restaurant in a high-demand area with excellent demographics. The property is currently vacant, allowing for immediate occupancy and customization to suit the new owner's vision.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $290,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $370,000
- 6.5%
- $365,000
- 7%
- $365,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $360,000
- Geo Method
- $370,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $355,000
- Retail
- $355,000
- Mixed-Use
- $285,000
- Hospitality
- $285,000
- Educational
- $370,000
- Residential Income
- $325,000
- Energy
- $345,000
- Income-Based Land
- $290,000
- Food Service
- $345,000
Location Insight
- Map
- Local Demand
- City
- Farmington Hills
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3573
- Latitude
- 42.4988
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA