Madison Heights, 350 E 14 Mile Road - Operating Restaurant For Sale

Retail-Commercial for Sale
Catylist Listing ID: 29985395
Property Subtypes: Free-Standing Building, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 3,566 SF
Gross Building Area: 6,941 SF
Gross Land Area: 0.49 Acres
Sale Price: $250,000
Unit Price: $70.11 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: Sindibad Restaurant
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 1/9/2018

Overview / Comments

Sindibad Restaurant - Mediterranean Cuisine. A rare opportunity to lease or purchase a successful operating business - Liquor license included in Purchase price. Located on 14 Mile Road, just East of John R Road, this location sees over 40,000 vehicles per day and is within half a mile to I-75 access. In addition to the nearby Oakland Mall, surrounding retail synergy is strong making for an excellent daytime population, more than 20,000 people within 1 mile. The restaurant is approximately 3,566 SF on .5 acres with an additional .31 acres available for purchase in the rear. Ample parking with great access to 14 Mile Road and the adjacent Townley Street.
The main dining area seats approximately 120 persons, with a full footprint basement currently used for banquets, large parties, and charity poker tournaments. Basement has a full bar and area for a band, DJ for entertainment.

*Business is currently operating, please do not approach ownership or employees. To schedule a showing, please contact broker.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Royal Oak Vicinity
Taxing Authority: Madison Heights
Tax ID/APN: 25-01-101-022
Zoning: MISC. COMMERCIAL SERVICES
Retail Clientele: General, Family, Business, Recreation
Property Located Between: John R Road & Dequindre on the South side of 14 Mile Road
Property Visibility: Excellent
Largest Nearby Street: 14 Mile Road
Feet of Frontage: 85
Traffic/Vehicle Count: 400,000
Highway Access: With .5 miles of I-75
Site Description: Well kept and updated restaurant with ample parking and excellent visibility.
Area Description: 14 Mile is a busy corridor in regards to traffic with the nearby access to the I-75 interchange as well as the strong retail draw. With many surrounding retailers and services, this area has a high daytime population as well as a strong residential population surrounding the restaurant.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,566 SF
Property Condition: Excellent
Year Built: 1970
Roof Type: Flat
Construction/Siding: Block, Brick
Exterior Description: Front brick facade with large windows fronting 14 Mile Road.
Total Parking Spaces: 40
Parking Type: Surface
Parking Description: Parallel parks available along the side of the restaurant, with the remainder of the parking to the rear. Access to parking lot from 14 Mile Road as well as the adjacent Townley Road.
Air Conditioning: Package Unit
Interior Description: Main dining is open and equipped with individual tables and booths. Off the dining area, there is ample bar seating. Basement has a full bar, and is accessible from the kitchen making food service easy and efficient. The basement space is currently used for larger parties, banquets, and charity poker tournaments.
Zoning Description: Misc. Commercial Services
Lot Frontage: 85
Lot Depth: 200
Land Ownership: Owned
Legal Description: T1N, R11E, SEC 1 JOHN R CENTER SUB LOTS 62 TO 65 INCL & 1/2 OF VAC ALLEY ADJ TO SAME, ALSO LOTS 111 & 112, ALSO 1/2 OF VAC ALLEY ADJ LOT 112

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,500 146,282 378,170
Median Age: 43.25 39.68 40.03
Households: 4,705 60,215 157,628
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