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    Property profile & analytics

    41490 Grand River Ave Novi, MI 48375

    • Conventional restaurants
    For Sale
    View listing
    $199,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1314862
    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.

    Current Use by Public Records

    • Gold Buy & Jewelry Pawn / Discount Store / (Bike/Boat/Book/etc) Store
    • Joe's Coffee & Tea Cafe / Cafe & Coffee Shop
    • Dairy Queen East (Treat and Cakes) / Grocery & Convenience Store / Specialty Food Shop
    • La Vie Mediterranean Grill / Restaurant
    • Pawn Shop / (Bike/Boat/Book/etc) Store

    Property Details for 41490 Grand River Ave

    Property type
    Conventional restaurants
    Property subtype
    Commercial real estate

    Description

    ***BUSINESS OPPORTUNITY*** Seize the opportunity to own a thriving Middle Eastern restaurant in Novi's bustling new construction plaza. This well-established eatery has been operating successfully for 10 years, enjoying excellent visibility and accessibility in a high-traffic area. With a loyal customer base and a reputation for delicious, authentic cuisine, it’s a local favorite. The restaurant features a fully equipped kitchen, a stylish dining area, and all necessary fixtures for a turnkey operation. Consistently doing great numbers, this business presents a lucrative investment. For more details and to arrange a private viewing, contact LA. Buyer Agent to be available at all times during showings and inspections. An NDA/CA must be signed for all business information. DO NOT SPEAK TO EMPLOYEES. BATVAI. Send all offers and requests to empirerealtygroupsells@ gmail.com or call 313-220-3624

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.458182
    Latitude
    42.4773798

    Comparable in this City

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      Turn Key Deli Opportunity

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    • $199,000
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      Turn-Key Business Opportunity in Novi

      Remodeled turn-key space suitable for coffee, tea, or restaurant.
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    • $2,200,000
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      Novi Land For Sale

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      Land ideal for fast food, service, retail, or office.
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    • $199,900
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      Established Restaurant Business Opportunity

      Thriving Middle Eastern restaurant for sale in Novi's bustling plaza.
      41490 Grand River Ave, Novi, MI 48375
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    • $200,000
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      Novi Industrial Building - 56,700 SF

      Large industrial space, Novi, MI. 1.31 acres. $200,000.
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    Similar Nearby for Sale

    • $85,000
      21,642 SF

      Turn Key Deli Opportunity

      Deli on Grand River Avenue with high visibility and traffic.
      39915 Grand River Ave, Novi, MI 48375
      View Details
    • $199,000
      2,231 SF

      Turn-Key Business Opportunity in Novi

      Remodeled turn-key space suitable for coffee, tea, or restaurant.
      25875 Novi Rd, Novi, MI 48375
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    • $2,200,000
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      Novi Land For Sale

      Land suitable for retail, office, or restaurant development.
      9 Nine Mile Rd, Novi, MI 48375
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      5,700 SF

      Land for Retail or Office

      Land ideal for fast food, service, retail, or office.
      9 Mile Rd & Haggerty Rd, Novi, MI 48375
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    • $199,900
      4,956 SF

      Established Restaurant Business Opportunity

      Thriving Middle Eastern restaurant for sale in Novi's bustling plaza.
      41490 Grand River Ave, Novi, MI 48375
      View Details
    • $200,000
      56,700 SF

      Novi Industrial Building - 56,700 SF

      Large industrial space, Novi, MI. 1.31 acres. $200,000.
      22735 Heslip Dr, Novi, MI 48375
      View Details

    Similar Nearby for Lease

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      Class A Building For Rent

      151,000 square foot Class A building available for rent.
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      Prime Novi Road Commercial Land

      Highly visible commercial land available for lease in Novi, Michigan.
      24555 Novi Rd, Novi, MI 48375
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      Former Sports Bar on Main

      Former sports bar available for rent on Main Street.
      43155 Main St, Novi, MI 48375
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      Novi Retail Space For Lease

      Retail and restaurant spaces available for lease in Novi.
      25875 Novi Rd, Novi, MI 48375
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      Novi Road Commercial Outlots

      Prime commercial outlots available in Novi, Michigan.
      24555 Novi Rd, Novi, MI 48375
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    41490 Grand River Ave
    Novi, MI 48375
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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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