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

    3251 Orch Lk Rd Keego Harbor, MI 48320-1316

    • Turn key restaurants
    • 4,094 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Nov 12, 2024
    $650,000
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1404525
    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 3251 Orch Lk Rd

    Year built
    1958
    Lot size
    0.89 lot acres
    Property size
    4,094 SF
    Zone code
    BI
    Property type
    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $604,000
      Market price range: $407k - $973k
      AI Estimate
      $476,000
      Market price range: $341k - $798k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $710,000
      Current use
      COMMERCIAL (GENERAL)
      $720,000
      Change: +2% Conversion: Easy
      RETAIL STORES
      $690,000
      Change: -2% Conversion: Easy
      MEDICAL BUILDING
      $645,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Keego Harbor
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3482
    Latitude
    42.6029
    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
    $15,702
    $0.00
    $0.00
    $336,900
    -
    $0.00
    $0.00
    $673,800

    Comparable in this City

    • Value Estimation by Request
      784 SF

      2897 Orch Lk Rd

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      3,400 SF

      2650 Orch Lk Rd

      RESTAURANT • 3,400 SF
      2650 Orch Lk Rd, Sylvan Lake, MI 48320-1539
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    • Value Estimation by Request
      2,477 SF

      1978 Cass Lk Rd

      RESTAURANT • 2,477 SF
      1978 Cass Lk Rd, Keego Harbor, MI 48320-1076
      View Details
    • Value Estimation by Request
      3,779 SF

      2235 Orch Lk Rd

      RESTAURANT • 3,779 SF
      2235 Orch Lk Rd, Sylvan Lake, MI 48320-1751
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    • Value Estimation
      $1,545,000
      16,883 SF

      1999 Cass Lk Rd

      RESTAURANT • 16,883 SF
      1999 Cass Lk Rd, Keego Harbor, MI 48320-1075
      View Details
    • Value Estimation by Request
      612 SF

      2880 Orch Lk Rd

      RESTAURANT • 612 SF
      2880 Orch Lk Rd, Keego Harbor, MI 48320-1453
      View Details

    Similar Nearby for Sale

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      2,448 SF

      Keego Harbor Freestanding Building

      Freestanding building on Orchard Lake Road, suitable for auto repair.
      2887 Orchard Lake Rd, Keego Harbor, MI 48320
      View Details
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      Sylvan Lake Retail Building

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      West Bloomfield Office Buildings For Sale

      Two office buildings with new flooring and HVAC for sale.
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      Residential Land in Keego Harbor

      Cleared residential building site with Cass Lake privileges.
      2428 Willow Beach St, Keego Harbor, MI 48320
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      Keego Harbor Specialty Property

      Specialty property available for sale in Keego Harbor, MI.
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    • Contact for pricing
      3,683 SF

      Freestanding Building on Orchard Lake Road

      3,683 SF building on 0.39 acres with ample parking.
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    Similar Nearby for Lease

    • $13,067 /Mo

      Former Rite Aid with Drive-Thru

      Hard-corner retail space with drive-thru, excellent visibility and access.
      3000 Orchard Lake Rd, Keego Harbor, MI 48320
      View Details
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      1,963 SF

      Sylvan Lake Restaurant w/Drive-Thru

      Prime Retail Space, Excellent Visibility
      2635 Orchard Lake Rd, Sylvan Lake, MI 48320
      View Details
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      2,675 SF

      Keego Harbor Office Suites Available

      Modern Offices, Flexible Sizes, Oakland County
      1899 Orchard Lake Rd, Keego Harbor, MI 48320
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    • $15 SF/Yr
      2,573 SF

      Sylvan Lake Retail Building For Sale

      Prime Orchard Lake Road location, 2,573 sq ft, ideal for owner-user.
      2267 Orchard Lake Rd, Sylvan Lake, MI 48320
      View Details
    • Contact for pricing
      80,578 SF

      Sylvan Lake Industrial Park Investment

      Multi-use industrial space, Oakland County.
      2655-2683 Orchard Lake Rd, Sylvan Lake, MI 48320
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    • Contact for pricing
      415,562 SF

      Sylvan Lake Commercial Land Opportunity

      9.54 Acres, Build-to-Suit Potential
      2000 Orchard Lake Rd, Sylvan Lake, MI 48320
      View Details
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    Keego Harbor, MI 48320-1316
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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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