Three-Bay Auto
For Sale
$165,000
10301 Whittier Street, Detroit, MI 48224
Fenced commercial facility with a newer roof, central air, heavy-duty electrical service, and an included bathroom.
Property Size2,220 SF
Lot Size0.29 Acres
Price / SF$74.32
Days on Market46
Property Features for 10301 Whittier Street
General Information
Standard status
Active
Size
2,220 SF
Lot size
0.29 Acres
Property subtype
Commercial
Zoning
Commercial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Voltage
210 V
Service Bays
3
Taxes and HOA fees
Annual Taxes
$2,244
Amenities
new roof
new central air unit
210V electrical system
bathroom
Building Details
Building Size
2,220 SF
Year Built
1950
Buildings
1
Listing Agency:
Amin Realty
(248) 802-8522
Listed By:
Erick Howard · License #6501396565
Source:
Erareardonrealty
Added: Jul 15
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 Amin Realty
Investment Insights
Based on property information with market context.
Located at 10301 Whittier Street in Detroit, this 2,220-square-foot auto shop includes three bay areas suited to automotive operations and other commercial uses. The property sits on a 127-foot by 100-foot lot with a fully fenced perimeter and privacy fencing, providing room for parking, storage, or future expansion.
Building improvements include a roof installed in 2023, a 10,000 BTU central air unit, and a 210V electrical system designed to support heavy-duty equipment. A bathroom is also included. The site offers access to major freeways and is positioned in a high-traffic area of Detroit.
Building improvements include a roof installed in 2023, a 10,000 BTU central air unit, and a 210V electrical system designed to support heavy-duty equipment. A bathroom is also included. The site offers access to major freeways and is positioned in a high-traffic area of Detroit.
Key Highlights
- 2,220‑square‑foot building with three bay areas
- 127‑foot by 100‑foot lot with full fencing and privacy fence
- Roof replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,971
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,420
$239.4K
Cap Rate 7%
$171,014
$171.0K
Cap Rate 9%
$133,011
$133.0K
Market Conditions
NOI Build-Up for 2,220 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.1K $8.16/SF
− Vacancy
−$1.0K −$0.46/SF
EGI
$17.1K $7.70/SF
− OpEx
−$5.1K −$2.31/SF
NOI
$12.0K $5.39/SF
Area
ZIP 48224
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,420
Cap Rate 7%
$171,014
Cap Rate 9%
$133,011
Alternative Uses
Best Use
Retail
$390.6K
$341.8K – $455.7K
NOI $27,344 @ 7.0% cap · market cap 16.57%
Second Best
Flex RnD
$318.6K
$278.8K – $371.7K
NOI $22,300 @ 7.0% cap · market cap 13.52%
Theoretical Best
Office A
$560.0K
$490.0K – $653.3K
NOI $39,197 @ 7.0% cap · market cap 23.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48224, MI
39,633
Population
16,786
Households
2.4
Avg Household Size
33
Median Age
14%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
6,833
Density / Sq Mi
$42,963
Median Household Income
$30,997
Median Earnings
$1,213
Median Rent
$77,900
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Harper Auto Care — 14637 Harper Ave, Detroit, MI 48224
- Santoro Auto & Truck — 15232 Harper Ave, Detroit, MI 48224
- Hotspot Brake Shop — Nottingham Rd, Detroit, MI 48224
- Kings of Customs Collision — 15445 Harper Ave, Detroit, MI 48224
- Lasho's COLLISION SERVICE — 15602 Harper Ave, Detroit, MI 48224
Frequently Asked Questions
What type of property is this?
Auto shop - Fenced commercial facility with a newer roof, central air, heavy-duty electrical service, and an included bathroom.
Where is this auto shop located?
The property is located at 10301 Whittier Street Detroit, MI.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 2,220‑square‑foot building with three bay areas; 127‑foot by 100‑foot lot with full fencing and privacy fence; Roof replaced in 2023
