For Sale
$450,000

1842 Monroe St Dearborn, MI 48124

Established Restaurant, High Cap Rate, SBA Approved

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional opportunity presents a thriving, owner-operated deli located at 1842 Monroe St, Dearborn, MI 48124. The property, built in 1936, boasts a single-story building with approximately 900-1000 square feet of space situated on a lot ranging from 5,000 to 7,000 square feet. Currently operating at 100% occupancy with a gross lease, this restaurant presents a compelling investment with a 27% cap rate. The asking price is $450,000, which includes the real estate. The business is SBA approved, requiring only a 10% down payment at the listed price. Currently operating with short hours, significant potential exists to increase revenue through expanded hours, delivery services, and the addition of complementary items, such as ice cream, to capitalize on the summer patio season. The property is zoned for commercial use and is a single-tenancy building within Wayne County. Financial details are available upon request with proof of funds. This is a rare chance to acquire a well-established, profitable business with significant upside potential. Don't miss this chance to own a piece of Dearborn's culinary history.

Highlights

  • $450,000 Asking Price
  • Gross Lease, Single Tenancy
  • 900-1,000 Square Foot Restaurant
  • 27% Cap Rate, 100% Occupancy
  • 1936 Construction, One-Story Building on a 5,000-7,000 sq ft lot in Dearborn, MI.

Property Details for 1842 Monroe St

Property type
Retail properties, Restaurants
Square Feet
900 SF
Year Built
1936
Buildings
1
Stories
1

Location Insight

City
Dearborn
County
Wayne
State
Michigan
Latitude
42.2994861
Longitude
-83.2445977

FAQs

What type of property is this?
Retail property - Established Restaurant, High Cap Rate, SBA Approved
Where is the retail property located?
The property is located at 1842 Monroe St Dearborn, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: $450,000 Asking Price; Gross Lease, Single Tenancy; 900-1,000 Square Foot Restaurant
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1842 Monroe St
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