8848 Joseph Campau StHamtramck, MI 48212

Property Details for 8848 Joseph Campau St

Year built

1941

Lot size

0.09 AC

Property size (Sq ft)

3,708 SF

Property type

Bars

APN

41 005 08 0007 000

APU

41005080007000

Description

This exceptional opportunity presents the chance to acquire the renowned New Dodge Lounge in the heart of Hamtramck, Michigan. This fully operational bar and lounge boasts a substantial 4,522 square feet of space, perfectly configured for immediate operation. The main floor encompasses a well-established bar, a stage ideal for live entertainment, a dedicated game room for added customer engagement, restrooms, and ample back-of-house areas for efficient operations. Adding to its versatility, a 742-square-foot mezzanine provides extra seating capacity, enhancing the venue's overall guest experience. A sizable 1,914-square-foot basement offers extensive storage solutions, addressing the operational needs of a thriving establishment. The sale includes not only the physical building situated on a 0.09-acre lot, but also the valuable New Dodge Lounge brand name, ensuring immediate brand recognition and customer loyalty. Crucially, a Class C liquor license is included, eliminating a significant hurdle for new ownership. This turnkey operation is ready for a new owner to step in and continue its successful legacy. This is an exceptional investment opportunity for both owner-operators seeking a profitable venture and investors looking for a strong return on investment in a vibrant and established location. The property is priced at $600,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,133,678

  6.5%

  $1,046,472

  7%

  $971,724

• Comparable approach

  Method

  Valuation

  Relative Method

  $874,053

  Geo Method

  $874,053

• Alternative Use

  Use

  Valuation

  Residential

  $882,739

  Hospitality

  $808,584

  Educational

  $672,732

  Medical

  $695,869

  Retail

  $1,046,472

Location Insight

City

Hamtramck

County

Wayne

State

Michigan

Latitude

42.391

Longitude

-83.0536

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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