Property profile

3870 Elizabeth Lake Rd Waterford, MI 48328

FOR SALE
Bars & Pubs
Property ID
US43-0252431
2,494 SF 1.2 ac lot Built 1971
Entity Owned 4-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional turnkey opportunity encompasses a 5,000 square foot, two-story building situated on a 1.2-acre lot in Waterford, Michigan. Built in 1971 and extensively renovated in 2021, this property boasts a single-tenant layout ideal for a restaurant or bar concept. The sale includes the real estate, the established business, and a valuable liquor license, offering a seamless transition for a new owner. The building features a walkout basement, providing ample storage and potential for expansion. With approximately 40 parking spaces and high visibility along Elizabeth Lake Road, this property benefits from a prime location in a thriving commercial area. The BI zoning allows for versatile business opportunities. This is a rare chance to acquire a well-established, profitable business with significant upside potential in a desirable market. The property's recent renovation ensures modern amenities and functionality, minimizing the need for immediate capital expenditures. The inclusion of the liquor license significantly enhances the value and potential profitability of this investment. This turnkey operation is ready for a new owner to step in and continue its success. The property's size, location, and included assets make it an attractive investment for experienced restaurateurs or savvy commercial investors seeking a high-return opportunity.

Property profile

Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1971
Total area 2,494 SF
Lot 1.2 ac (52,272 SF)
Zoning code BI
APN W -13-26-153-024
UPID US43-0252431

Cap rate & NOI

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

Location

3870 Elizabeth Lake Rd Waterford, MI 48328
Waterford metro Census 144800 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2021
2 recorded transactions
2021
Price N/A
2003
$190,000

Zoning & alternative use

BI · Waterford, MI

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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