Streetscaped Retail/Service Building & Vacant Land For Sale

Retail-Commercial for Sale
Catylist Listing ID: 29985418
Property Subtypes: Convenience Store, Free-Standing Building, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 3,566 SF
Gross Building Area: See Agent
Gross Land Area: 0.81 Acres
Sale Price: $550,000
Unit Price: $154.23 PSF
Property Use Type: Investment, Business
Building Name: Sindibad Restaurant
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 3/6/2018

Overview / Comments

Operating restaurant for sale with additional acreage in the rear, .8 acres total. Business is available For Sale/Lease, with option to purchase the real estate for another use, or redevelopment purposes. Main floor dining room seats approximately 120 persons, with a full footprint basement with bar for banquets, large parties, charity poker, etc.

Asking price is $550,000 for building and Real Estate. Liquor license is available For Sale with Business as well. Please see aerial for parcel outlines.

*Business is operating, please do not approach ownership or employees. To schedule a showing, or for additional information, please contact listing Broker.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Royal Oak Vicinity
Taxing Authority: Madison Heights
Tax ID/APN: 2501101022
Retail Clientele: General, Family, Business
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: 40,000
Highway Access: .5 Miles from I-75
Site Description: Existing building is streetscaped and situated on .49 acres, with ample rear parking. The additional rear parcel is .31 acres of vacant land, accessible from Groveland Avenue.
Area Description: Additional surrounding retailers include: Toys R Us, Wise Guys Haircuts, Pizza Hut, Cricket Wireless, Jersey Mikes, Eyeglass World, Planet Fitness and many more. 14 mile is a heavily traveled corridor for access to I-75 and surrounding retailers and services.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,566 SF
Property Condition: Excellent
Year Built: 1970
Roof Type: Flat
Construction/Siding: Block, Brick
Total Parking Spaces: 40
Parking Type: Surface
Parking Description: Parallel Parks along side of building, with remainder of parks to the rear. Vacant land is to the SW of the building with access of the sidestreet to the West of the site.
Air Conditioning: Package Unit
Interior Description: Open dining area with bar area. Kitchen is in the rear with access to basement for large parties, banquets, and events. Basement is full footprint, with a full bar and corner location for musical entertainment.
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 T1N, R11E, SEC 1 JOHN R CENTER SUB S 1/2 OF LOT 114 & ALL OF LOTS 115 & 116

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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