30685 12 Mile RdFarmington Hills, MI 48334

Property Details for 30685 12 Mile Rd

Year built

1972

Lot size

0.90 AC

Property size (Sq ft)

3,292 SF

Zone code

BI

Property type

Turn key restaurants

APN

22-23-14-101-034

APU

222314101034

Description

This vacant, 3,292 square foot restaurant building presents a compelling investment opportunity in Farmington Hills, Michigan. Located at 30685 W 12 Mile Rd, 48334, this property boasts a prime location in a busy retail corridor near Orchard Lake Road and I-696, ensuring high visibility and accessibility. The building, constructed in 1972 and extensively renovated in 2020, features a completely updated interior including a new kitchen and bar, capable of seating over 110 patrons. All furniture, fixtures, and equipment (FF&E) are included in the sale price of $975,000 ($296.17/sq ft). The 0.899-acre lot provides ample parking for 70 vehicles, and the property benefits from prominent monument signage. The B-3 zoning permits restaurant use. Its proximity to two hotels further enhances its potential. This turnkey operation is ideal for owner-users seeking a well-established, fully equipped restaurant in a high-demand area with excellent demographics. The property is currently vacant, allowing for immediate occupancy and customization to suit the new owner's vision.

• CAP approach

  CAP return

  Valuation

  6%

  $828,420

  6.5%

  $764,695

  7%

  $710,074

• Comparable approach

  Method

  Valuation

  Relative Method

  $775,993

  Geo Method

  $775,993

• Alternative Use

  Use

  Valuation

  Residential

  $645,049

  Hospitality

  $590,861

  Educational

  $491,590

  Medical

  $508,496

  Retail

  $764,695

Location Insight

City

Farmington Hills

County

Oakland

State

Michigan

Latitude

42.4988

Longitude

-83.3573

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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