1842 Monroe StDearborn, MI 48124

Property Details for 1842 Monroe St

Year built

1936

Lot size

0.05 AC

Property size (Sq ft)

785 SF

Zone code

BB

Property type

Turn key restaurants

APN

82 09 223 26 015

APU

820922326015

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $197,542

  6.5%

  $182,347

  7%

  $169,322

• Comparable approach

  Method

  Valuation

  Relative Method

  $185,041

  Geo Method

  $185,041

• Alternative Use

  Use

  Valuation

  Residential

  $153,816

  Hospitality

  $140,895

  Educational

  $117,223

  Medical

  $121,254

  Retail

  $182,347

Location Insight

City

Dearborn

County

Wayne

State

Michigan

Latitude

42.2994

Longitude

-83.2445

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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