5006 Wayne RdWayne, MI 48184

Property Details for 5006 Wayne Rd

Year built

1957

Lot size

0.11 AC

Property size (Sq ft)

1,789 SF

Property type

Turn key restaurants

APN

55 016 02 0012 301

APU

55016020012301

Description

This exceptional opportunity presents the chance to acquire a well-established Coney Island restaurant located at 5006 S Wayne Road in Wayne, Michigan. The property boasts a substantial 2,500 square feet of space situated on a 0.11-acre lot. This turnkey operation is being offered for sale due to the owner's retirement. The sale includes the real estate and the entire business, representing a unique chance to step into a ready-made, profitable venture. All existing equipment and furnishings are included in the sale price of $224,900, eliminating the need for significant upfront investment in new infrastructure. The restaurant has cultivated a loyal customer base over many years, providing a solid foundation for continued success. Financial records are available upon request, offering potential buyers a comprehensive understanding of the business's performance and profitability. This is a rare opportunity to acquire a thriving business with a proven track record in a desirable location. The property's prime location ensures high visibility and accessibility, contributing to its consistent success. Don't miss this chance to own a piece of Wayne's culinary history and build upon its established legacy.

• CAP approach

  CAP return

  Valuation

  6%

  $450,195

  6.5%

  $415,565

  7%

  $385,882

• Comparable approach

  Method

  Valuation

  Relative Method

  $421,704

  Geo Method

  $421,704

• Alternative Use

  Use

  Valuation

  Residential

  $350,544

  Hospitality

  $321,097

  Educational

  $267,149

  Medical

  $276,336

  Retail

  $415,565

Location Insight

City

Wayne

County

Wayne

State

Michigan

Latitude

42.2712

Longitude

-83.3889

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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