Listed by Colliers - Royal Oak/Detroit, Michigan
Unpriced
Turnkey Restaurant & Lounge
Details
Property Type Retail
Sub Type Restaurant
Square Footage 9,393
Tenancy Vacant
Lease Type NNN
Lease Term 5
Lease Options 5 to 10 years, with options to extend
Class C
Year Built 1965
Year Renovated 2013
Stories 2
Acreage 0.150
Zoning Royal Oak DDA, Central Business District
Retail | 9,393 SqFt
Marketing description
401 South Lafayette is a 9,393 square foot, two story restaurant building positioned on one of Royal Oak's principal hospitality corners. Restaurant grade infrastructure, a Class C Michigan liquor license, and interior build out are available with the deal, providing an incoming operator with a substantially accelerated path to opening relative to ground up alternatives.
The property is offered for lease at $27 per square foot NNN. The building is also available for sale, with lease with purchase option structures available to qualified prospects.
Investment highlights
- Walk score 97, walker's paradise. The property sits at the highest walkability tier in metro Detroit, supporting consistent walk in traffic and corridor density that define downtown royal oak's hospitality economy.
- Corner positioning. Lafayette avenue and 4th street corner, three blocks west of main street's primary retail spine, within the royal oak dda and central business district.
- Restaurant grade infrastructure in place. Commercial kitchen ventilation, grease management, gas service, and three phase electrical eliminate the most capital-intensive elements of a ground up restaurant build.
- Class c liquor license available. Full permit stack available on negotiated terms, a meaningful diligence and capital advantage versus securing a new license.
- Interior build out included. Dining room seating, bar build out, and integrated audio system convey with the deal.
- Across the street from ronin sushi. One of royal oak's most established and well regarded upscale restaurants anchors the corridor directly opposite the property.
- Public parking deck across the street. Eliminates the on site parking constraint that defines most downtown restaurant deals. The prior operating tenant successfully ran valet service from this configuration.
- Flexible transaction structures. Lease, sale, and lease with purchase option structures are each available to qualified prospects.
Listing Contacts
Listed by Colliers - Royal Oak/Detroit, Michigan
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