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    210 Summit Dr S, Unit Tom aka M33/M72 Mio, MI 48647

    Sponsored
    For Sale
    Pending
    $699,000

    COMMERCIAL - Mio, MI

    Property size:
    6,000 SF
    Lot size:
    3.00 Acres
    Days on Market:
    40
    Last Refresh:
    Feb 20 at 12:06 am

    Property Features for 210 Summit Dr S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    001-301-083-00 & 001-301-084-00
    Parking features
    Parking Lot, Garage
    Size
    6,000 SF
    Lot size
    3.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    Building Details

    Building materials
    Steel Siding, Block

    We can help!

    Listing Contact
    Michael Thomson
    Michael Thomson

    Detrich Real Estate (989) 826-6100

    Listing agent Michael Thomson (989) 826-6100

    Listing date Jan 12, 2026

    MLS# 201832915

    Copyright © 2026 Water Wonderland Board of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Mio Auto Repair Facility

    This is a multi-generational, full-service auto repair facility situated on just under 3 acres. The 6000+/- square foot building includes five bays equipped with six Ben Pearson lifts and an additional tire alignment lift bay, along with tire machines and balancer(s). The property also features a wrecker service with a 2016 Hino flatbed and a 2010 F-450. Gas service is provided by eight modern fuel pumps connected to a 20,000-gallon underground storage tank with a Veeder-Root monitoring system. Additionally, a recreational fuel pump is available from a 500-gallon above-ground tank. Located in a high-traffic area on State Highway M-33/M-72 north of Mio, the property is directly across from the airport. The sale includes an off-site state highway billboard permit and any remaining inventory. The property is located in Mio, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Map

    City
    Mio
    County
    Oscoda
    State
    Michigan
    Longitude
    -84.13042
    Latitude
    44.675931

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    FAQs

    What type of property is this?
    Auto shop - Full-service auto repair and gas station on 3 acres.
    Where is this auto shop located?
    The property is located at 210 Summit Dr S, Unit Tom aka M33/M72 Mio, MI.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: - Full-service auto repair facility with **five bays and six Ben Pearson lifts, plus tire alignment lift bay.**; - High-traffic location on State Highway M-33/M-72, directly across from the airport.; - Includes wrecker service: 2016 Hino flatbed and 2010 F-450.
    (989) 370-1955
    Request Owner's contact information
    210 Summit Dr S, Unit Tom aka M33/M72 Mio, MI 48647
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    Mio, MI 48647
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    210 Summit Dr S, Unit Tom aka M33/M72 Mio, MI 48647
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    We can help!
    Listing Contact
    Michael Thomson
    Michael Thomson
    (989) 370-1955 (989) 826-6100
    Learn more
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