2010 Springwells StDetroit, MI 48209

Property Details for 2010 Springwells St

Year built

1961

Lot size

0.17 AC

Property size (Sq ft)

1,092 SF

Zone code

B4

Property type

Turn key restaurants

APN

20005175-6

APU

200051756

Description

Prime Southwest Detroit location at 2010 Springwells St, this 1-story, 1,092 sq ft building (APN W20I005175C6) on a commercial lot offers a turnkey opportunity. Built in 1961, this well-maintained property includes a thriving ice cream shop established in 1957, boasting a 4.7-star Google rating from nearly 700 reviews. The business benefits from a loyal customer base and strong community presence, enhanced by its corner location and ample parking. The interior features excellent walk-in coolers and freezers, ensuring efficient operation. The business model extends beyond ice cream, incorporating successful past ventures like hot dogs and walking tacos, and utilizes DoorDash for delivery. This sale includes both the established business and the property, presenting a rare chance to acquire a profitable enterprise with significant growth potential in a desirable neighborhood. The asking price is $675,000.

• CAP approach

  CAP return

  Valuation

  6%

  $333,866

  6.5%

  $308,184

  7%

  $286,171

• Comparable approach

  Method

  Valuation

  Relative Method

  $257,407

  Geo Method

  $257,407

• Alternative Use

  Use

  Valuation

  Residential

  $259,965

  Hospitality

  $238,127

  Educational

  $198,119

  Medical

  $204,932

  Retail

  $308,184

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3097

Longitude

-83.1256

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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