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    OFF-MARKET
    Commercial real estate

    32711 Michigan Ave, Wayne, MI 48184-1430

    0.49 ac lot Built 1965
    Trust Owned 7-yr Hold Absentee Owner Free & Clear
    Property ID
    US43-1600595
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Elezi,xhafer Trust · 7 yrs held
    Elezi,xhafer Trust
    since 2018
    1 recorded transaction
    2018
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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