16550 Telegraph RdDetroit, MI 48219

Property Details for 16550 Telegraph Rd

Year built

1965

Lot size

0.29 AC

Property size (Sq ft)

1,950 SF

Zone code

B4

Property type

Retail properties

Property subtype

Bars

APN

22122505-10

APU

2212250510

Description

This exceptional opportunity presents a fully renovated, 1,950 square foot bar and restaurant in Detroit, Michigan. Located on a full city block (296' x 120') of prime commercial real estate on busy Telegraph Road (16550 Telegraph Rd, Detroit, MI 48219), this property boasts a 0.82-acre lot and ample parking. The building, constructed in 1965 and extensively renovated in 2021, features a modern lighting and sound system. Included in the sale are all furniture, fixtures, and equipment. The property holds both a cabaret and liquor license, ensuring immediate operational capability. This turnkey business is a proven money-maker, ready for a new owner. Alternatively, the substantial lot size and prime location make it an ideal redevelopment site. The property is zoned for commercial use. Serious inquiries only

• CAP approach

  CAP return

  Valuation

  6%

  $490,710

  6.5%

  $452,963

  7%

  $420,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $459,656

  Geo Method

  $459,656

• Alternative Use

  Use

  Valuation

  Residential

  $382,091

  Hospitality

  $349,994

  Educational

  $291,191

  Medical

  $301,205

  Retail

  $452,963

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4103

Longitude

-83.2764

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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