Restaurant in the Heart of Mexicantown

Retail-Commercial for Sale
Catylist Listing ID: 29950137
Property Subtypes: Restaurant
Building Size (RSF): 13,000 SF
Gross Building Area: See Agent
Sale Price: $1,500,000
Unit Price: $115.38 PSF
Property Use Type: Vacant/Owner-User
Building Name: El Zocala Mexican Restaurant
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 11/18/2016

Overview / Comments

Owner retiring after 30 years. Two-story restaurant with 2 banquet rooms and 3 full bars. Fully remodeled with an outside pavilion. Rare, Class C liquor license, business & equipment. El Zocalo Mexican Restaurant, located in the heart of Mexicantown and southwest Detroit’s historic restaurant community. Located one block from the nation's busiest international crossing in terms of trade volume.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $7,115 (Annual)

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit W of Woodward
Tax ID/APN: 12-0000251-2
Zoning: B-4
Property Located Between: 23rd Street
Largest Nearby Street: I-75 & Vernor Hwy
Traffic/Vehicle Count: 33,372
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1940
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Fenced Yard, Large
Heat Type: Natural Gas, Other
Heat Source: Other


Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,794 116,678 318,765
Median Age: 30.84 33.27 34.75
Households: 5,494 46,446 123,189

Contact

Photograph of Listing Agent

Christopher J. Monsour

Signature Associates CPIX Member
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