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Property profile & analytics
FOR LEASE
Turn key restaurants
37300 Warren Rd, Westland, MI 48185
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1106385
For Lease
1 / 4
$25 SF/Yr
37300 Warren Rd, Westland, MI 48185
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Property summary
AI-generated overview
This exceptional 5,600 square foot freestanding restaurant building, located at 37300 Warren Road in Westland, Michigan, 48185, is available for sale at $2,900,000. The property is currently vacant and features a coveted liquor license. The building offers a spacious layout suitable for a variety of restaurant or entertainment concepts. Its high-traffic location on Warren Road provides excellent visibility and accessibility. The surrounding area boasts a thriving community, with over 13,000 residents within a one-mile radius and a total population of 255,177 within five miles. The area demographics show a diverse and prosperous population, with an average household income of $78,931 and an average house value of $176,245. This presents a significant opportunity for a new business to tap into a broad customer base. The property is offered as a Net Net Net (NNN) lease. The asking price per square foot is $517.86. This turnkey opportunity is ideal for investors and entrepreneurs seeking a prime location in a vibrant community. The property is categorized as retail, with a restaurant subtype.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2001
Total area
5,579 SF
Lot
1.47 ac (64,033 SF)
APN
56 030 99 0008 701
UPID
US43-1106385
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
Current use
Occupant on record · Public records
-
Ruby Tuesday Restaurant
-
Aubree's Pizzeria & Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.37M
Owner & transaction history
Lulus Investments LLC · 8 yrs held
Lulus Investments LLC
since 2017
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Westland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,430,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,275,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$246 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$32,755
Tax year 2023
Assessed value
$511,600
Assessed 2024
Previous assessed
$494,400
+3.5% YoY
Effective rate
6.40%
On assessed value
Total market value
$1,023,200
Applied tax rate
82,095.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
2001
Heating
FORCED AIR
Stories
1
Total area
5,579 SF
Lot
1.47 ac (64,033 SF)
APN
56 030 99 0008 701
UPID
US43-1106385
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
FORCED AIR
Stories
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
Lulus Investments LLC
Entity
Mailing address
32932 WARREN RD STE #100, WESTLAND, MI 48185-3095
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2017
$700,000
Lulus Investments LLC
RT Detroit Franchise LLC
Deed
$550,000 · Old National Bank
—
—
RT Detroit Franchise LLC
—
Deed Of Trust
related
$2,250,000 · Citicorp Leasing INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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