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    3041 S Wayne Road Wayne, MI 48184

    View on Map
    For Sale
    Under Contract
    $1,200,000

    Business And Real Estate - Wayne, MI

    Property size:
    4,867 SF
    Lot size:
    0.29 Acres
    Added:
    Jun 23, 2025
    Days on Market:
    282
    Last Refresh:
    Mar 31 at 10:06 pm

    Property Features for 3041 S Wayne Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active Under Contract
    APN
    55003060001000
    Size
    4,867 SF
    Lot size
    0.29 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    7914

    Building Details

    Year built
    1951
    Year renovated
    2010
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Heidi Haidar

    Listing agent Heidi Haidar

    Listing office EXP Realty Main 39555 Orchard Hill Place Ste 600, Royal Oak, MI

    Listing date Jun 23, 2025

    MLS# 20251011048 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Auto Repair Business For Sale

    This is an opportunity to acquire an auto repair facility situated in Wayne, Michigan. The property is positioned in a prime location between Michigan Avenue and Ford Road, offering high visibility and accessibility. The existing business features a fully equipped shop with 7 hoists, suitable for high-volume service. The facility includes an office and a waiting room designed to provide a comfortable space for customers. The business has an established clientele and a trusted reputation within the community. The property size is 4867 square feet, situated on a lot of 0.29 acres. The zoning is commercial, allowing for various business operations. This turn-key business offers excellent visibility and steady customer traffic. This automotive business is located in a booming area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Kacey's Towing INC — 35425 w michigan ave, wayne, mi 48184
    • Touchdown Towing — 4082 4th St, Wayne, MI 48184
    • U Broke IT auto — 4082 4th St, Wayne, MI 48184
    • AK AUTO PARTS LLC — 4090 2nd St, Wayne, MI 48184
    • F & R Automotive Car Care — 34655 E Michigan Ave, Wayne, MI 48184

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Wayne
    State
    Michigan
    Longitude
    -83.383849
    Latitude
    42.287164

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    FAQs

    What type of property is this?
    Auto shop - Well-equipped auto repair shop with prime location and established clientele.
    Where is this auto shop located?
    The property is located at 3041 S Wayne Road Wayne, MI.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Prime Location: High‑traffic area between Michigan Ave and Ford Rd ensures excellent visibility and easy access.; Turn‑Key Business: Well‑established, family‑owned auto repair shop ready for immediate operation.; 7 Hoists: Fully equipped to handle high‑volume auto repair service.
    (734) 891-2622
    We can help!
    Listing Contact
    Heidi Haidar
    Learn More
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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
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