Madhouse Bar & Grill

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Madhouse Bar & Grill

Type: Sale

32787 Stephenson Hwy Madison Heights MI Oakland County

Property Type: Freestanding

Sales Price: $1,650,000.00

Contact Person(s): Louis J. Ciotti
Scott Sonenberg
& Anthony J. Vitale

(248) 488-2620

Description:

  • New Renovations – Extensive interior and exterior improvements completed in 2017, which include a new parking lot, roof, HVAC systems; along with the tenant contributing the full build out and kitchen to the interior of the premises.
  • Quality Real Estate – Subject site sits on 1.37 AC in the heart of one of Metro Detroit’s most dominant retail corridors which is home to the super-regional mall, Oakland Mall. The property is adjacent to Interstate 75 (152,800 cpd) and offers direct access to both Stephenson Hwy and 14 Mile Rd.
  • Rent Increases – Rent increases in years four and six which will provide upside for the buyer.
  • Strong Office and Industrial Market – Madhouse Bar and Grill is located in the heart of “Automotive Alley”, the top Michigan location for automotive research and development facilities.
  • Exceptional Demographics – 303,915 people within five mile radius with average household incomes over $79,000.
  • Experienced Operator – Owner operator has 30+ years of restaurant experience.
  • Significant Employment Population – The trade area includes 41,086 businesses which employ 539,028 people. This employment population solidifies the trade area as a strong dining destination.

Property Taxes: $16,475.94

Building Size: 7,041

Lot Size: 1.37 AC

Traffic Count: 14 Mile Rd=34,500 cpd
Stephenson Hwy=24,600 cpd

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 9,702 113,072 310,598
Avg. HH Income: $71,626 $81,736 $91,888

LANDMARK COMMERCIAL REAL ESTATE SERVICES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.