24300 Hoover Road

Warren, MI 48089

Listing ID: 197507
$1,000,000
For Sale
  • Property Type Retail : Food Service
  • Lot Size Acres 0.710
  • Building Sq Ft 9,517
  • Building Price per Sq Ft $105.08
  • Land Sq Ft 30,927
  • Land Price per Sq Ft $32.33
Description

Description

Motivated Seller! 9,516 SF stand-alone building currently operating as a bar/restaurant. The Hot Rock features live music and has been a family-owned and operated community landmark for over 40 years. The building features a large stage, a green room, a second-stage area in front of the building, a full kitchen, two bars, a new walk-in cooler, brand new carpeting throughout, and eight (8) new HD TV's. There is also a full-storage area above bar that's accessible by stairs. The main room has 10' ceilings with 16' ceilings in the backroom addition. Capital improvements include a new partially resurfaced 4 inch driveway, gabled roof replaced in 2018, and a new HVAC unit.

Purchase includes the business. Price negotiable.

Highlights

Zoned for industrial, commercial, or retail use

City approved area for marijuana growing and/or processing

Located in the Opportunity Zone

Long-time family owned and operated entertainment hot spot

Ample parking behind the building

Restaurant capacity: 425 people

Class C liquor license

Permit for dance & entertainment & additional bar

Solid poured-concrete foundation

Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population12,290123,248360,202
Population Median Age393738
Population by Age0-9 Yrs1504 (12%)16649 (13%)46062 (12%)
10-19 Yrs1420 (11%)15436 (12%)46385 (12%)
20-29 Yrs1653 (13%)19221 (15%)55694 (15%)
30-39 Yrs1775 (14%)16092 (13%)47132 (13%)
40-49 Yrs1538 (12%)16389 (13%)46221 (12%)
50-59 Yrs1699 (13%)16277 (13%)49000 (13%)
60-69 Yrs1393 (11%)12569 (10%)37256 (10%)
70+ Yrs1308 (10%)10615 (8%)32453 (9%)
Median HH Income$37,359$41,311$42,050
Total Household Income< 24K1810 (34%)14042 (28%)39965 (28%)
25-49K1617 (30%)15010 (30%)41703 (29%)
50-74K980 (18%)9477 (19%)26901 (19%)
75-99K380 (7%)4841 (9%)14315 (10%)
100-199K411 (7%)4880 (10%)15566 (11%)
200K+41 (0%)527 (1%)1610 (1%)
Highest Education LevelNo Diploma13441199035544
Diploma or GED33573092886338
Some College23052101962585
Assoc. Degree681799423931
Bachelors Degree700711823478
Higher Degree218327210203
Total Housing Units5,75255,794166,054
--Owner-Occupied2,47929,19785,561
--Renter-Occupied2,76219,57954,500
Owner-Occupied Values< 100K17971928853040
100-199K645924029174
200-299K144412347
300-399K075332
400-499K02394
500K+23131574
Total Working Age Population9,94197,273285,877
In Work Force5,59360,021175,617
Not In Work Force4,34837,253110,260
Workforce Employed5,05352,945154,843
Workforce Unemployed5407,07020,685
Civlian Workforce5,59360,015175,528
Military Workforce0689
Total Households5,24048,776140,060
Family Households2,88729,55086,332
Non-Family Households2,35419,22653,728
Married Couple1,31315,28944,610
Other Family1,57414,26141,722
Married w/Child5115,84716,344
Single Male w/Child2521,4554,318
Single Female w/Child5746,25117,084

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Michigan9,938,444-19,883,640+110,023,423+410,424,510
Macomb County788,149+7840,978+5883,020+6933,965
Wayne County2,061,162-121,820,584-41,741,463-11,730,000
Oakland County1,194,156+11,202,362+51,264,515+71,350,052

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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