Property profile

32711 Michigan Ave Wayne, MI 48184

OFF-MARKET
Commercial real estate
Property ID
US43-1600595
0.49 ac lot Built 1965
Trust Owned 7-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This well-established restaurant, located at 32711 Michigan Avenue in Wayne, Michigan, presents a unique investment opportunity. The owners, retiring after 50 years, are offering this turnkey operation with a proven track record and excellent reputation. The building boasts a spacious 4,470 square foot interior, featuring an open floor plan designed to maximize efficiency and customer flow. Large windows throughout provide abundant natural light, creating a welcoming atmosphere. A substantial basement offers ample storage space, and an unfinished upper level presents significant potential for expansion, allowing for increased seating capacity, additional kitchen space, or even separate office areas. The property sits on a 0.49-acre lot, providing ample parking and visibility. Situated on a high-traffic section of Michigan Avenue, this restaurant benefits from consistent foot and vehicle traffic, ensuring a steady stream of potential customers. This is an exceptional opportunity to acquire a long-standing, successful business with significant growth potential. The asking price is $450,000. Appointments are required for showings.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1965
Lot 0.49 ac (21,344 SF)
APN 55 001 02 0026 302
UPID US43-1600595

Cap rate & NOI

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

Location

32711 Michigan Ave Wayne, MI 48184-1430
Wayne metro Census 566400 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

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Owner & transaction history

since 2018
1 recorded transaction
2018
Price N/A

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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