Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    62 W Speed Way Pontiac, MI 48341

    Sponsored
    For Sale
    $695,000

    Real Estate Only - Pontiac, MI

    Property size:
    1,264 SF
    Lot size:
    0.03 Acres
    Days on Market:
    16
    Last Refresh:
    Jan 28 at 11:06 am

    Property Features for 62 W Speed Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    1433305062
    Size
    1,264 SF
    Lot size
    0.03 Acres

    Building Details

    Year built
    2016
    Floors in Building
    1.5
    Building materials
    Block, Metal Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Melanie S Bishop

    KW Domain Birmingham (248) 590-0800

    Listing agent Melanie S Bishop (248) 590-0800

    Listing date Jan 13, 2026

    MLS# 20240071705 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.

    Learn more

    Property Insight Report

    Overview

    M1 Concourse Private Garage Unit

    This property is a 1,264 square foot unit located within the M1 Concourse Private Garage Community in Pontiac, MI. The unit, situated in the heart of the community and along the 1.5-mile racetrack's straightaway, features 1,194 square feet of floor space, plus a partial trackside mezzanine with a viewing area and a half bath. The garage includes three car lifts, an awning, and all furnishings. The overhead door measures 16 feet high and 18 feet wide. Intended uses for the garage include a personal getaway, social space, office space, car collection storage and maintenance, or an adrenaline-fueled recreational space. The M1 Private Garage Community hosts parties, music festivals, and cruise nights. The property can also be used for office or workspace. Association dues are $747.16 quarterly. The lot size is 0.03 acres. The property is zoned commercial.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2928
    Latitude
    42.6266

    Nearby Similar for Sale

    • $1,850,000
      1,500 SF

      M1 Concourse Rooftop Garage Unit

      Luxury garage condo with mezzanine, rooftop access, and track views.
      142 Pit Ln, Pontiac, MI 48341
      View Details
    • $1,399,000
      1,307 SF

      M1 Concourse Rooftop Garage Unit

      Garage unit with mezzanine, track views, and entertaining space.
      145 Pit Ln, Pontiac, MI 48341
      View Details
    • New
      $550,000
      5,293 SF

      Spacious Commercial Warehouse in Pontiac

      Commercial warehouse in Pontiac, MI with office and truck bay.
      73 W Walton Blvd, Pontiac, MI 48340
      View Details
    • $969,000
      1,191 SF

      M1 Concourse Private Garage Unit

      Private garage unit with trackside patio in Pontiac, Michigan.
      161 W Speed Way, Pontiac, MI 48341
      View Details
    • $975,000
      1,191 SF

      M1 Concourse Private Garage with Patio

      Rare garage with patio, track views, and luxury amenities.
      163 Speed Way, Pontiac, MI 48341
      View Details
    • $489,000
      600 SF

      M1 Concourse Private Garage

      Automotive enthusiast's dream: garage, living space, track access.
      68 Pit Ln, Pontiac, MI 48341
      View Details
    • $475,000
      610 SF

      M1 Concourse Private Garage Unit

      Corner garage with track views, mezzanine, and full amenities.
      48 Pit Ln, Pontiac, MI 48341
      View Details
    • $110,000
      0.14 Acres

      Pontiac Triplex Value-Add Opportunity

      Triplex in Pontiac, MI. Investor special with value-add potential.
      323 Ferry Ave, Pontiac, MI 48341
      View Details
    • $249,900
      1,000 SF

      Waterford Commercial Building on Voorheis

      Remodeled 1,000 SF building with high visibility.
      2409 Voorheis St, Pontiac, MI 48341
      View Details
    • $2,200,000
      1,264 SF

      M1 Concourse Combined Units

      Rare combined units perfect for automotive display and entertaining.
      40 Straightaway Dr, Pontiac, MI 48341
      View Details
    • $225,000
      1,128 SF

      Versatile Commercial Property in Pontiac

      C-1 zoned property near Great Lakes Crossing and Downtown Pontiac.
      1571 Baldwin Ave, Pontiac, MI 48340
      View Details
    • $689,900
      3,450 SF

      Pontiac Retail Opportunity For Sale

      Former bank building with drive-thru and large parking lot.
      900 Joslyn Ave, Pontiac, MI 48340
      View Details

    FAQs

    What type of property is this?
    Parking lot & garage - Private garage unit at M1 Concourse, Pontiac, MI.
    Where is this parking lot & garage located?
    The property is located at 62 W Speed Way Pontiac, MI.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: - Prime location within the M1 Concourse Private Garage Community, situated on the racetrack's straightaway.; - Includes three car lifts, awning, and all furnishings.; - Versatile space suitable for personal getaway, social gatherings, office, car storage/maintenance, or adrenaline activities.
    (248) 867-7800
    Request Owner's contact information
    62 W Speed Way Pontiac, MI 48341
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    62 W Speed Way
    Pontiac, MI 48341
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    62 W Speed Way Pontiac, MI 48341
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Melanie S Bishop
    Real Estate License ID: 6501217402
    (248) 867-7800
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.