220 Southfield RdEcorse, MI 48229

Property Details for 220 Southfield Rd

Year built

1940

Lot size

0.06 AC

Property size (Sq ft)

5,390 SF

Property type

Investment properties

Property subtype

Live-work space

APN

34-007-04-0001-001

APU

34007040001001

Description

This exceptional Ecorse, MI property presents a unique investment opportunity encompassing a thriving business and substantial real estate. Located at 220 and 218 Southfield Road, the offering includes a fully operational bar and grill occupying 2,695 square feet on a one-acre lot. The bar and grill features a fully equipped kitchen with a grill and fryer, a covered outdoor patio, and a valuable Class "C" liquor license. A basement adds significant storage or expansion potential. In addition to the bar and grill, a separate retail space at 218 Southfield Road is available for lease, generating additional income streams. Two income-producing apartments located upstairs are currently rented, providing further passive income. The entire property is offered as a turnkey operation, ready for immediate ownership and continued operation. Financial terms are flexible, with land contract options available. All data is approximate. This is an exceptional opportunity to acquire a well-established business with significant income potential and a substantial real estate asset in a prime location. The combination of the bar and grill, retail space, and rental apartments provides a diversified income stream and significant return on investment. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $969,661

  6.5%

  $895,071

  7%

  $831,138

• Comparable approach

  Method

  Valuation

  Relative Method

  $504,181

  Geo Method

  $504,181

• Alternative Use

  Use

  Valuation

  Residential

  $1,109,888

  Hospitality

  $1,016,652

  Educational

  $845,842

  Medical

  $874,932

  Retail

  $1,315,755

Location Insight

City

Ecorse

County

Wayne

State

Michigan

Latitude

42.2438

Longitude

-83.1537

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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