Auto Repair Shop with
1018 W 9 Mile Road, Ferndale, MI 48220
For Sale
$799,000
A freestanding repair facility includes service equipment, customer seating, office space, and an attached bathroom.
Property Size2,500 SF
Price / SF$319.60
Days on Market128
Property Features for 1018 W 9 Mile Road
General Information
Standard status
Size
Property subtype
Zoning
Automotive
Service Bays
Automotive Uses
Additional Details
Business Included
Road Access
Currently Operating
Taxes and HOA fees
Annual Taxes
Amenities
customer waiting area
office
bathroom
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Remerica Integrity
Listed By:
Ha Nguyen
(248) 912-9990
Source:
Housewant
Added: Jul 8
Changed: Nov 11
Last Checked: Nov 12 at 4:14PM
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
Ask AI about this property
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 shop has two electric hoists, a compressor, a frame straight puller, two workbenches, and an overhead heater. Customer space includes a 7-by-8-foot waiting area and a 12-by-10-foot office with an attached bathroom. The roof is 8 years old, and the building dates to 1970.
The property is on W 9 Mile Road in downtown Ferndale, near Nine Mile and Woodward. The site has frontage on a main retail road.
The property is on W 9 Mile Road in downtown Ferndale, near Nine Mile and Woodward. The site has frontage on a main retail road.
Key Highlights
- Two electric hoists, a compressor, a frame straight puller, and two workbenches
- 7X8 customer waiting area and 12X10 office with attached bathroom
- Overhead heater in the shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,901
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,020
$538.0K
Cap Rate 7%
$384,300
$384.3K
Cap Rate 9%
$298,900
$298.9K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$42.0K $16.80/SF
− Vacancy
−$3.6K −$1.43/SF
EGI
$38.4K $15.37/SF
− OpEx
−$11.5K −$4.61/SF
NOI
$26.9K $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%
$538,020
Cap Rate 7%
$384,300
Cap Rate 9%
$298,900
Alternative Uses
Best Use
Retail
$384.3K
$336.3K – $448.4K
NOI $26,901 @ 7.0% cap · market cap 3.37%
Second Best
Industrial
$177.0K
$154.8K – $206.5K
NOI $12,387 @ 7.0% cap · market cap 1.55%
Theoretical Best
Specialty Retail
$539.2K
$471.8K – $629.1K
NOI $37,746 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Service bays
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
144k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 20%
Beauty & Spa 2%
Electronics 2%
McDonald's
Dining
22,302 visits/mo
0.1 miles
Wendy's
Dining
20,467 visits/mo
0.2 miles
Pizza Hut
Dining
13,458 visits/mo
0.5 miles
Taco Bell
Dining
10,104 visits/mo
0.4 miles
Mobil
Shops & Services
9,934 visits/mo
0.2 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
$229,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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
- A/C Auto Radiator Corporation — 1336 Eight Mile Rd #2340, Ferndale, MI 48220
- Soave Auto Clinic — 1330 Eight Mile Rd, Ferndale, MI 48220
- J H W Auto Clinic — 1336 Eight Mile Rd, Ferndale, MI 48220
- Speedy Auto — 1030 w, eight mile rd, ferndale, mi 48220
- Monro Auto Service And Tire Centers — 1030 M-102, Ferndale, MI 48220
Frequently Asked Questions
What type of property is this?
Auto shop - A freestanding repair facility includes service equipment, customer seating, office space, and an attached bathroom.
Where is this auto shop located?
The property is located at 1018 W 9 Mile Road 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: Two electric hoists, a compressor, a frame straight puller, and two workbenches; 7X8 customer waiting area and 12X10 office with attached bathroom; Overhead heater in the shop
