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Property profile & analytics
FOR SALE
Turn key restaurants

24611 W Mcnichols Rd Detroit, MI 48219

1,323 SF 0.15 ac lot Built 1969
Individually Owned 8-yr Hold Free & Clear
Property ID
US43-0421685
Property summary
AI-generated overview

This 1,323 square foot storefront, located at 24611 W McNichols Rd in Detroit, Michigan, presents a compelling investment opportunity. The property, built in 1969 and extensively renovated in 2023, boasts a single story and sits on a commercially zoned lot in Wayne County (zip code 48219). Priced at $279,000 ($210.88 per square foot), this stand-alone building offers ample parking and excellent visibility due to its prime frontage on McNichols Road. Previously occupied by a Coney Island restaurant, the versatile space presents numerous possibilities for a variety of retail uses. The property's recent renovation ensures a move-in ready condition, minimizing upfront capital expenditures. Its location provides significant exposure to high traffic volume, making it an ideal space for a business seeking strong visibility and accessibility. This is a rare opportunity to acquire a well-located, renovated retail space in a thriving Detroit neighborhood. Don't miss out

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1969
Total area 1,323 SF
Lot 0.15 ac (6,534 SF)
Zoning code B4
APN 22013435.
UPID US43-0421685
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
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$55k
Owner & transaction history
Vataj Mare · 8 yrs held
Vataj Mare
since 2018
Last sale
$50,000
2 recorded transactions
2018
$25,000
2011
Price N/A
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4) B4 General Business District. (5) B5 Major Business District. (6) B6 General Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61…

Zone name General Business District
General category COMMERCIAL
Zone area 3,533.46 ac
Source code of ordinances
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