Business For Sale - Locations · Italian Restaurant/Banquet Hall. Plymouth, Wayne County, MI. Details: • Current sales are at $1,500,000.00 for 2016. • Lot size is 2.7 acres and

Italian Restaurant/Banquet Hall Plymouth, MI (Wayne County)

Business For Sale

Disclosure: We obtained this information from sources we believe to be reliable; however, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property or business. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

Summary:• Historic & grand Plymouth Twp. site - zoned C-2.• Established in 1983.• Price includes 16,391 SF building on a 2.7-acre site.• Seller financing available.• Asking: $1,600,000 plus $25,000 for inventory.

Locations Commercial Real Estate Services32000 Northwestern Highway, Ste. 275Farmington Hills, MI 48334248-516-7777 • www.LocationsMI.com

Contact: Joe [email protected]

Italian Restaurant/Banquet Hall Plymouth, Wayne County, MI

Details:•

Current sales are at $1,500,000.00 for 2016.

•

Lot size is 2.7 acres and the Restaurant/Banquet hall on the lot is 16,391 SF.

•

An updated and expanded menu featuring Italian favorites, along with new offerings including exciting starters and salads to gourmet burgers, pizza and sandwiches.

•

Property is suited to seat 500 guests and has parking for 200.

•

Advertising and marketing is top-notch and customers bring in new customers!

• Provides a full range of banquet services with 8 private banquet rooms to choose from.

• Every banquet hall has a different name and theme to suite different events accordingly.

•

Great cash flow and is staffed by a close-knit, loyal, friendly & knowledgeable team!

•

Owner will stay on to train and can’t wait to finally retire!

•

Asking: $1,600,000 plus $25,000 for inventory

• C-2 zoning - unlimited possibilities for investors.





Demographic Source: Applied Geographic Solutions 04/2017, TIGER Geography page 1 of 5©2017, Sites USA, Chandler, Arizona, 480-491-1112

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EXPANDED PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 42.3757/-83.4532RF5

1 mi radius 3 mi radius 5 mi radius

PopulationEstimated Population (2017) 7,611 70,670 196,158Projected Population (2022) 7,404 68,918 190,937Census Population (2010) 7,777 72,729 201,457Census Population (2000) 7,966 73,672 194,243Projected Annual Growth (2017 to 2022) -207 -0.5% -1,751 -0.5% -5,221 -0.5%

Historical Annual Growth (2010 to 2017) -166 -0.3% -2,059 -0.4% -5,299 -0.4%

Historical Annual Growth (2000 to 2010) -189 -0.2% -943 -0.1% 7,214 0.4%

Estimated Population Density (2017) 2,424 psm 2,500 psm 2,499 psm

Trade Area Size 3.14 sq mi 28.26 sq mi 78.51 sq mi

HouseholdsEstimated Households (2017) 3,738 30,763 83,599Projected Households (2022) 3,716 30,688 83,267Census Households (2010) 3,668 30,426 82,615Census Households (2000) 3,720 29,754 77,185Estimated Households with Children (2017) 822 22.0% 8,187 26.6% 23,796 28.5%

Estimated Average Household Size (2017) 2.01 2.28 2.33

Average Household IncomeEstimated Average Household Income (2017) $82,062 $97,655 $101,367Projected Average Household Income (2022) $101,004 $120,801 $125,849

Estimated Average Family Income (2017) $102,973 $120,356 $126,173

Median Household IncomeEstimated Median Household Income (2017) $64,040 $83,234 $85,327Projected Median Household Income (2022) $75,600 $98,285 $100,580

Estimated Median Family Income (2017) $91,441 $106,547 $110,734

Per Capita IncomeEstimated Per Capita Income (2017) $40,406 $42,572 $43,257Projected Per Capita Income (2022) $50,794 $53,854 $54,941Estimated Per Capita Income 5 Year Growth $10,387 25.7% $11,283 26.5% $11,684 27.0%

Estimated Average Household Net Worth (2017) $508,658 $711,007 $739,261

Daytime Demos (2017)Total Businesses 863 4,156 9,815Total Employees 9,331 53,421 134,296Company Headquarter Businesses 6 0.7% 42 1.0% 88 0.9%

Company Headquarter Employees 469 5.0% 6,189 11.6% 16,256 12.1%

Employee Population per Business 10.8 12.9 13.7Residential Population per Business 8.8 17.0 20.0



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Lat/Lon: 42.3757/-83.4532RF5


Race & EthnicityWhite (2017) 6,730 88.4% 58,681 83.0% 154,742 78.9%Black or African American (2017) 484 6.4% 6,471 9.2% 21,027 10.7%American Indian or Alaska Native (2017) 14 0.2% 159 0.2% 439 0.2%Asian (2017) 227 3.0% 3,778 5.3% 14,948 7.6%Hawaiian or Pacific Islander (2017) 2 - 20 - 45 - Other Race (2017) 42 0.5% 313 0.4% 1,131 0.6%Two or More Races (2017) 112 1.5% 1,248 1.8% 3,827 2.0%

Not Hispanic or Latino Population (2017) 7,387 97.1% 68,612 97.1% 190,089 96.9%Hispanic or Latino Population (2017) 224 2.9% 2,057 2.9% 6,069 3.1%Not Hispanic or Latino Population (2022) 7,123 96.2% 66,375 96.3% 183,556 96.1%Hispanic or Latino Population (2022) 281 3.8% 2,544 3.7% 7,381 3.9%Not Hispanic or Latino Population (2010) 7,600 97.7% 71,038 97.7% 196,331 97.5%Hispanic or Latino Population (2010) 177 2.3% 1,692 2.3% 5,126 2.5%Not Hispanic or Latino Population (2000) 7,855 98.6% 72,519 98.4% 190,664 98.2%Hispanic or Latino Population (2000) 111 1.4% 1,153 1.6% 3,579 1.8%Projected Hispanic Annual Growth (2017 to 2022) 57 5.1% 486 4.7% 1,312 4.3%Historic Hispanic Annual Growth (2000 to 2017) 114 6.0% 905 4.6% 2,490 4.1%

Age Distribution (2017)Age Under 5 458 6.0% 3,842 5.4% 10,798 5.5%Age 5 to 9 Years 423 5.6% 3,965 5.6% 11,576 5.9%Age 10 to 14 Years 405 5.3% 4,412 6.2% 12,823 6.5%Age 15 to 19 Years 359 4.7% 4,192 5.9% 11,947 6.1%Age 20 to 24 Years 412 5.4% 3,998 5.7% 11,318 5.8%Age 25 to 29 Years 643 8.4% 4,552 6.4% 12,473 6.4%Age 30 to 34 Years 567 7.5% 4,057 5.7% 11,159 5.7%Age 35 to 39 Years 574 7.5% 4,134 5.8% 11,452 5.8%Age 40 to 44 Years 478 6.3% 4,310 6.1% 12,426 6.3%Age 45 to 49 Years 488 6.4% 4,821 6.8% 13,672 7.0%Age 50 to 54 Years 505 6.6% 5,197 7.4% 14,666 7.5%Age 55 to 59 Years 547 7.2% 5,398 7.6% 14,981 7.6%Age 60 to 64 Years 536 7.0% 5,237 7.4% 13,987 7.1%Age 65 to 74 Years 622 8.2% 7,314 10.3% 19,101 9.7%Age 75 to 84 Years 343 4.5% 3,488 4.9% 9,065 4.6%Age 85 Years or Over 251 3.3% 1,753 2.5% 4,715 2.4%Median Age 39.3 41.7 41.2

Gender Age Distribution (2017)Female Population 3,949 51.9% 36,573 51.8% 102,023 52.0%

Age 0 to 19 Years 805 20.4% 8,095 22.1% 23,101 22.6%Age 20 to 64 Years 2,396 60.7% 21,339 58.3% 60,014 58.8%Age 65 Years or Over 747 18.9% 7,139 19.5% 18,908 18.5%

Female Median Age 41.2 42.9 42.4

Male Population 3,662 48.1% 34,097 48.2% 94,135 48.0%Age 0 to 19 Years 841 23.0% 8,316 24.4% 24,043 25.5%Age 20 to 64 Years 2,353 64.3% 20,364 59.7% 56,119 59.6%Age 65 Years or Over 468 12.8% 5,416 15.9% 13,973 14.8%

Male Median Age 37.5 40.5 39.9



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Lat/Lon: 42.3757/-83.4532RF5


Household Income Distribution (2017)HH Income $200,000 or More 195 5.2% 2,709 8.8% 8,794 10.5%HH Income $150,000 to $199,999 204 5.5% 2,869 9.3% 7,460 8.9%HH Income $100,000 to $149,999 676 18.1% 5,947 19.3% 15,117 18.1%HH Income $75,000 to $99,999 540 14.4% 4,300 14.0% 10,958 13.1%HH Income $50,000 to $74,999 620 16.6% 4,855 15.8% 13,900 16.6%HH Income $35,000 to $49,999 531 14.2% 3,490 11.3% 9,011 10.8%HH Income $25,000 to $34,999 414 11.1% 2,524 8.2% 6,575 7.9%HH Income $15,000 to $24,999 260 7.0% 2,169 7.1% 5,974 7.1%HH Income Under $15,000 298 8.0% 1,899 6.2% 5,809 6.9%

HH Income $35,000 or More 2,766 74.0% 24,171 78.6% 65,241 78.0%HH Income $75,000 or More 1,615 43.2% 15,826 51.4% 42,330 50.6%

Housing (2017)Total Housing Units 4,002 32,443 88,085Housing Units Occupied 3,738 93.4% 30,763 94.8% 83,599 94.9%

Housing Units Owner-Occupied 2,263 60.5% 22,487 73.1% 61,074 73.1%Housing Units, Renter-Occupied 1,475 39.5% 8,276 26.9% 22,525 26.9%

Housing Units, Vacant 264 6.6% 1,679 5.2% 4,486 5.1%

Marital Status (2017)Never Married 2,230 35.3% 17,388 29.7% 48,465 30.1%Currently Married 2,859 45.2% 30,540 52.2% 83,200 51.7%Separated 107 1.7% 1,363 2.3% 4,309 2.7%Widowed 411 6.5% 3,667 6.3% 10,010 6.2%Divorced 717 11.3% 5,493 9.4% 14,976 9.3%

Household Type (2017)Population Family 5,349 70.3% 57,413 81.2% 160,860 82.0%Population Non-Family 2,150 28.3% 12,703 18.0% 33,896 17.3%Population Group Quarters 112 1.5% 554 0.8% 1,402 0.7%

Family Households 1,857 49.7% 19,590 63.7% 53,761 64.3%Non-Family Households 1,881 50.3% 11,174 36.3% 29,838 35.7%Married Couple with Children 585 20.4% 6,162 20.2% 17,793 21.4%Average Family Household Size 2.9 2.9 3.0

Household Size (2017)1 Person Households 1,636 43.8% 9,790 31.8% 26,199 31.3%2 Person Households 1,140 30.5% 10,805 35.1% 28,335 33.9%3 Person Households 432 11.6% 4,346 14.1% 12,019 14.4%4 Person Households 365 9.8% 3,839 12.5% 10,943 13.1%5 Person Households 121 3.2% 1,406 4.6% 4,284 5.1%6 or More Person Households 45 1.2% 578 1.9% 1,818 2.2%

Household Vehicles (2017)Households with 0 Vehicles Available 340 9.1% 1,949 6.3% 4,850 5.8%Households with 1 Vehicles Available 1,401 37.5% 9,820 31.9% 26,342 31.5%Households with 2 or More Vehicles Available 1,998 53.4% 18,993 61.7% 52,407 62.7%

Total Vehicles Available 6,013 55,724 153,617Average Vehicles Per Household 1.6 1.8 1.8



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Lat/Lon: 42.3757/-83.4532RF5


Labor Force (2017)Estimated Labor Population Age 16 Years or Over 6,240 57,541 158,386Estimated Civilian Employed 4,210 67.5% 36,884 64.1% 101,545 64.1%Estimated Civilian Unemployed 88 1.4% 845 1.5% 2,788 1.8%Estimated in Armed Forces 1 - 22 - 33 - Estimated Not in Labor Force 1,942 31.1% 19,791 34.4% 54,020 34.1%Unemployment Rate 1.4% 1.5% 1.8%

Occupation (2015)Occupation: Population Age 16 Years or Over 4,206 36,873 101,813Management, Business, Financial Operations 747 17.8% 7,174 19.5% 19,768 19.4%Professional, Related 1,066 25.3% 10,034 27.2% 28,038 27.5%Service 609 14.5% 5,033 13.7% 14,418 14.2%Sales, Office 1,058 25.2% 8,629 23.4% 23,451 23.0%Farming, Fishing, Forestry - - 20 0.1% 53 0.1%Construct, Extraction, Maintenance 214 5.1% 1,873 5.1% 4,876 4.8%Production, Transport Material Moving 512 12.2% 4,111 11.1% 11,210 11.0%

White Collar Workers 2,871 68.3% 25,836 70.1% 71,257 70.0%Blue Collar Workers 1,335 31.7% 11,037 29.9% 30,557 30.0%

Consumer Expenditure (2017)Total Household Expenditure $230 M $2.13 B $5.91 B

Total Non-Retail Expenditure $124 M 54.2% $1.16 B 54.5% $3.23 B 54.6%Total Retail Expenditure $105 M 45.8% $970 M 45.5% $2.68 B 45.4%

Apparel $7.97 M 3.5% $74.7 M 3.5% $207 M 3.5%Contributions $10.1 M 4.4% $102 M 4.8% $289 M 4.9%Education $8.61 M 3.7% $85.7 M 4.0% $241 M 4.1%Entertainment $12.9 M 5.6% $121 M 5.7% $335 M 5.7%Food and Beverages $33.5 M 14.6% $305 M 14.3% $844 M 14.3%Furnishings and Equipment $7.96 M 3.5% $75.5 M 3.5% $209 M 3.5%Gifts $5.78 M 2.5% $56.8 M 2.7% $159 M 2.7%Health Care $18.3 M 8.0% $165 M 7.7% $453 M 7.7%Household Operations $6.56 M 2.9% $64.5 M 3.0% $180 M 3.1%Miscellaneous Expenses $3.40 M 1.5% $30.8 M 1.4% $85.0 M 1.4%Personal Care $2.98 M 1.3% $27.5 M 1.3% $76.1 M 1.3%Personal Insurance $1.70 M 0.7% $16.9 M 0.8% $47.5 M 0.8%Reading $515 K 0.2% $4.78 M 0.2% $13.2 M 0.2%Shelter $47.5 M 20.7% $442 M 20.7% $1.23 B 20.7%Tobacco $1.37 M 0.6% $11.7 M 0.6% $32.1 M 0.5%Transportation $43.3 M 18.9% $396 M 18.5% $1.09 B 18.5%Utilities $17.1 M 7.5% $153 M 7.2% $422 M 7.1%

Educational Attainment (2017)Adult Population Age 25 Years or Over 5,553 50,261 137,696Elementary (Grade Level 0 to 8) 46 0.8% 816 1.6% 2,272 1.6%Some High School (Grade Level 9 to 11) 136 2.5% 1,659 3.3% 4,756 3.5%High School Graduate 1,143 20.6% 9,786 19.5% 27,286 19.8%Some College 1,234 22.2% 10,339 20.6% 28,991 21.1%Associate Degree Only 545 9.8% 4,510 9.0% 12,281 8.9%Bachelor Degree Only 1,497 27.0% 13,842 27.5% 36,898 26.8%Graduate Degree 951 17.1% 9,308 18.5% 25,213 18.3%



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Lat/Lon: 42.3757/-83.4532RF5


Units In Structure (2015)1 Detached Unit 2,445 66.6% 22,742 74.7% 61,147 74.0%1 Attached Unit 183 5.0% 1,756 5.8% 5,367 6.5%2 to 4 Units 295 8.0% 1,451 4.8% 3,832 4.6%5 to 9 Units 273 7.4% 1,443 4.7% 4,099 5.0%10 to 19 Units 159 4.3% 1,094 3.6% 2,902 3.5%20 to 49 Units 76 2.1% 505 1.7% 1,372 1.7%50 or More Units 265 7.2% 1,353 4.4% 3,894 4.7%Mobile Home or Trailer 41 1.1% 411 1.4% 1,173 1.4%Other Structure - - - - 2 -

Homes Built By Year (2015)Homes Built 2010 or later 8 0.2% 46 0.2% 115 0.1%Homes Built 2000 to 2009 84 2.3% 1,826 6.0% 7,508 9.1%Homes Built 1990 to 1999 120 3.3% 3,206 10.5% 11,662 14.1%Homes Built 1980 to 1989 460 12.5% 4,040 13.3% 11,028 13.3%Homes Built 1970 to 1979 557 15.2% 8,571 28.2% 21,713 26.3%Homes Built 1960 to 1969 790 21.5% 6,332 20.8% 13,635 16.5%Homes Built 1950 to 1959 673 18.4% 3,466 11.4% 10,213 12.4%Homes Built Before 1949 1,022 27.8% 3,074 10.1% 6,969 8.4%

Home Values (2015)Home Values $1,000,000 or More 2 0.1% 44 0.2% 153 0.3%Home Values $500,000 to $999,999 51 2.3% 847 3.8% 3,219 5.3%Home Values $400,000 to $499,999 80 3.6% 884 4.0% 3,118 5.2%Home Values $300,000 to $399,999 181 8.1% 2,381 10.7% 6,335 10.5%Home Values $200,000 to $299,999 600 26.8% 5,994 26.8% 14,479 23.9%Home Values $150,000 to $199,999 496 22.2% 5,262 23.6% 12,761 21.1%Home Values $100,000 to $149,999 431 19.3% 3,905 17.5% 10,438 17.2%Home Values $70,000 to $99,999 227 10.1% 1,441 6.5% 4,823 8.0%Home Values $50,000 to $69,999 80 3.6% 606 2.7% 2,091 3.5%Home Values $25,000 to $49,999 62 2.8% 479 2.1% 1,930 3.2%Home Values Under $25,000 53 2.4% 601 2.7% 1,714 2.8%Owner-Occupied Median Home Value $185,250 $211,552 $211,778Renter-Occupied Median Rent $716 $774 $761

Transportation To Work (2015)Drive to Work Alone 2,752 83.1% 26,086 85.7% 72,899 85.6%Drive to Work in Carpool 249 7.5% 2,061 6.8% 5,923 7.0%Travel to Work by Public Transportation 17 0.5% 188 0.6% 429 0.5%Drive to Work on Motorcycle 3 0.1% 16 0.1% 26 - Walk or Bicycle to Work 120 3.6% 717 2.4% 1,760 2.1%Other Means 12 0.4% 199 0.7% 641 0.8%Work at Home 157 4.7% 1,168 3.8% 3,438 4.0%

Travel Time (2015)Travel to Work in 14 Minutes or Less 1,250 39.6% 8,985 30.7% 22,687 27.8%Travel to Work in 15 to 29 Minutes 1,398 44.3% 12,989 44.4% 35,716 43.7%Travel to Work in 30 to 59 Minutes 1,240 39.3% 12,089 41.3% 35,304 43.2%Travel to Work in 60 Minutes or More 108 3.4% 1,331 4.5% 3,866 4.7%Average Minutes Travel to Work 21.3 22.8 23.7

Documents

Business For Sale - Locations · Italian Restaurant/Banquet Hall. Plymouth, Wayne County, MI. Details: • Current sales are at $1,500,000.00 for 2016. • Lot size is 2.7 acres and