Freestanding Auto Repair
1018 W 9 Mile, Ferndale, MI 48220
For Sale
$799,000
The shop includes repair equipment, a customer waiting area, and a private office with an attached bathroom.
Property Size2,300 SF
Price / SF$347.39
Days on Market128
Property Features for 1018 W 9 Mile
General Information
Standard status
Size
Property subtype
Zoning
Automotive
Service Bays
Automotive Uses
Additional Details
Business Included
Currently Operating
Building Details
Buildings
Listing Agency:
Remerica Integrity
(248) 912-9990
Listed By:
Ha Nguyen
(313) 673-8690
Source:
Jabachler
Added: Jul 8
Changed: Nov 11
Last Checked: Nov 12 at 1:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Remerica Integrity
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding auto repair property contains 2,300 square feet and is zoned Commercial. The shop floor is equipped with two electric hoists, a compressor, a frame straight puller, two workbenches, and an overhead heater. Customer and staff areas include a 7X8 waiting area, a 12X10 office, and an attached bathroom. The roof is 8 years old.
Located at 1018 W 9 Mile in Ferndale, the property has frontage along a main road in the Nine Mile and Woodward area. The auto repair business is offered for sale, and the retiring owner is available to assist with the transition.
Located at 1018 W 9 Mile in Ferndale, the property has frontage along a main road in the Nine Mile and Woodward area. The auto repair business is offered for sale, and the retiring owner is available to assist with the transition.
Key Highlights
- 2,300‑square‑foot freestanding building zoned Commercial
- Two electric hoists, one compressor, and one frame straight puller
- Two workbenches and an overhead heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,749
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,980
$495.0K
Cap Rate 7%
$353,557
$353.6K
Cap Rate 9%
$274,989
$275.0K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$38.6K $16.80/SF
− Vacancy
−$3.3K −$1.43/SF
EGI
$35.4K $15.37/SF
− OpEx
−$10.6K −$4.61/SF
NOI
$24.7K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,980
Cap Rate 7%
$353,557
Cap Rate 9%
$274,989
Alternative Uses
Best Use
Retail
$353.6K
$309.4K – $412.5K
NOI $24,749 @ 7.0% cap · market cap 3.10%
Second Best
Industrial
$162.8K
$142.5K – $189.9K
NOI $11,396 @ 7.0% cap · market cap 1.43%
Theoretical Best
Specialty Retail
$496.1K
$434.1K – $578.8K
NOI $34,726 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
51k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 43%
Electronics 4%
7-Eleven
Shops & Services
14,479 visits/mo
0.1 miles
Taco Bell
Dining
12,193 visits/mo
0.1 miles
BIGGBY COFFEE
Dining
6,768 visits/mo
0.2 miles
Citgo
Shops & Services
5,324 visits/mo
0.2 miles
Quickly Boba Cafe
Dining
4,428 visits/mo
0.5 miles
Demographics for 48220, MI
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,901
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
Median Home Value
Market
Average Price Trend$/SF for Auto shops in Oakland County, MI
Properties on Market for Auto shops in Oakland County
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Charlie's Auto Repair — 10007 Northend Ave, Ferndale, MI 48220
- Created Performance LLC — 8740 Northend Ave, Oak Park, MI 48237
- Performance Crankshaft Inc — 8829 Northend Ave, Ferndale, MI 48220
- Window Tinting Guys of Ferndale — 942 Emwill St, Ferndale, MI 48220, United States
- Interstate Auto Body — 21815 Republic Ave, Oak Park, MI 48237
Frequently Asked Questions
What type of property is this?
Auto shop - The shop includes repair equipment, a customer waiting area, and a private office with an attached bathroom.
Where is this auto shop located?
The property is located at 1018 W 9 Mile Ferndale, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,300‑square‑foot freestanding building zoned Commercial; Two electric hoists, one compressor, and one frame straight puller; Two workbenches and an overhead heater
