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Meriwether's 25485 Telegraph Rd

8,011 SF Retail Building Southfield, MI 48033 $1,950,000 ($243/SF)

Executive Summary

Fully equipped restaurant including a Class C license,...
The City of Southfield is one of the premier business and residential addresses in Michigan. Located in Oakland County, Southfield is home to more than 71,000 residents and over 100 “Fortune 500” companies. With a daytime population nearing 175,000, over 27 million square feet of office space and more than seven million square feet of retail and industrial space–Southfield is truly Michigan’s undisputed business center. In fact, Southfield boasts more office space than the central business districts of Cleveland, Cincinnati, Detroit, Indianapolis or Kansas City. Residents and businesses alike come to Southfield for its central location, excellent city services and easy access to all of southeastern Michigan.
Southfield well located to the Detroit Metro area serving as replacement for companies leaving the city of Detroit throughout the 1970’s-1990’s as well national companies that were seeking a first class community.
Southfield is accessible within a 30 minute drive to all of Southeastern MI communities totaling over 4 million in population.
The subject property may be used by another restaurant to service the Southfield neighboring communities and a daytime population of over 175,000 people. The subject property due to it land size may be well suited for a redevelopment for other services uses such as medical, office, hotels and retail all permitted uses in this area of Southfield. However the highest best use for the building would be a destination restaurant for a local multi store operator.
The Southfield market for full service restaurants have seen many turnovers and trending down for the past years. The New casual theme restaurants have moved to other newer areas in Detroit metro area with more offerings of newer restaurants.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,011 SF
Building Class
C
Year Built
1979
Price
$1,950,000
Price Per SF
$243
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Land Acres
1.64 AC
Zoning
B-2
Parking
114 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
382 FT on Telegraph Rd

Amenities

  • Bus Line
  • Pylon Sign
  • Signage

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Meriwether's
  • Retailer
  • 3,000 SF
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
Meriwether's Retailer 3,000 SF - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
24-20-401-005
Land Assessment
$229,340
Improvements Assessment
$527,040
Total Assessment
$756,380
  • Listing ID: 19573103

  • Date on Market: 5/16/2020

  • Last Updated:

  • Address: 25485 Telegraph Rd, Southfield, MI 48033

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