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    39715 6th Mile Rd Northville, MI 48168-2367
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    Property profile & analytics

    39715 6th Mile Rd, Northville, MI 48168-2367

    View on Map
    • Turn key restaurants
    • 6,926 SF
    • 3.28 lot acres
    Off-Market
    Last Sale Jan 25, 2023
    $2,000,000
    Property ID
    US43-1378304
    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.
    Value Estimations
    $2,015,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Art & Jakes Sports Bar & Grill Northville / Restaurant
    • Ross nails / Hair Salon / Nail Salon

    Property Details for 39715 6th Mile Rd

    Year built
    2002
    Lot size
    3.28 lot acres
    Zone code
    HPUD
    Property type
    Turn key restaurants
    APN
    77 049 01 0005 303
    APU
    77049010005303

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 25, 2023 — V&r 6 Mile LLC V & R Building Company LLC Intrafamily Transfer · related —
    Dec 11, 2019 $2,000,000 V & R Building Co LLC Sizzlin Fe LLC Warranty Deed —
    Dec 4, 2019 — Sizzlin Fe LLC Sizzlin 5 LLC Quit Claim Deed · related —
    — — Sizzlin 5 LLC — Deed Of Trust · related $5M · Bank Of America
    — — Peter M Schreck — Deed Of Trust · related $188k · Citimortgage INC

    Description

    This exceptional 6,904 square foot former restaurant is available for purchase at $2,499,000. Located at 39715 6 Mile Rd in Northville, Michigan (zip code 48168), this single-tenancy property sits on a 3-acre lot and boasts an impressive 218 feet of frontage along 6 Mile Road. The property is zoned for retail commercial use and benefits from its strategic location within a high-traffic trade area. A significant advantage is its proximity to a Kroger Power Center, ensuring high visibility and consistent foot traffic. The sale includes a valuable liquor license, presenting a unique opportunity for a variety of food and beverage businesses. The building's substantial size offers ample space for a restaurant, or potential redevelopment into other retail uses. This is a turnkey opportunity for an investor seeking a high-potential property in a prime Northville location within Oakland County. The property's size, location, and included liquor license make it an attractive investment prospect. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,045,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,580,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Northville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4359
    Latitude
    42.4103
    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
    $62,083
    $0.00
    $0.00
    $1,035,000
    -
    $0.00
    $0.00
    $2,070,000

    Comparable in this City

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      $1,330,000
      8,070 SF

      17101 Haggerty Rd

      RESTAURANT
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    • Value Estimation
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      5,868 SF

      18730 Northville Rd

      RESTAURANT
      18730 Northville Rd, Northville, MI 48168-1848
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    • Value Estimation by Request
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      18900 Northville Rd

      RESTAURANT
      18900 Northville Rd, Northville, MI 48168-1847
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      39430 Dun Rovin Dr

      RESTAURANT
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    • Value Estimation
      $870,000
      5,280 SF

      39555 6th Mile Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      39555 6th Mile Rd, Northville, MI 48168-2306
      View Details
    • Value Estimation
      $875,000
      5,292 SF

      17899 Haggerty Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      17899 Haggerty Rd, Northville, MI 48168-9100
      View Details

    Similar Nearby for Sale

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      26.96 Acres in Salem Township

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      Northville Warehouse Property For Sale

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      99 SF

      Industrial Land with Rail Access

      Level site suitable for distribution, manufacturing, warehousing, and office.
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      Northville Warehouse with Gravel Yard

      4,000 SF office, three overhead doors, 10-acre gravel yard.
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    Similar Nearby for Lease

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      Retail Storefront Space in Shopping Center

      Small shop space available in a Northville center anchored by Fresh Thyme Market.
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      Retail Space on Haggerty Road

      Retail space available for lease on Haggerty Road.
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      Northville Retail Center For Lease

      Retail spaces available in Northville Village Center shopping center.
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      Northville Office Space Available

      Office space for rent in Northville, Michigan.
      41600 6 Mile Rd, Northville, MI 48168
      View Details
    • Contact for pricing

      Commercial Space For Lease/Sale

      Commercial property available for lease or sale.
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      1,604 SF

      Northville Office Space For Rent

      Office space for rent near downtown Northville and I-275.
      41700-41860 6 Mile Rd, Northville, MI 48168
      View Details
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    Northville, MI 48168-2367
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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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