Freestanding Auto Shop with
For Sale
Contact for pricing
10311 Eight Mile W, Detroit, MI 48221
Masonry automotive facility with collision and refinishing capabilities.
Property Size6,500 SF
Price / SF$215.38
Days on Market194
Property Features for 10311 Eight Mile W
General Information
Standard status
Active
Size
6,500 SF
Class
C
Property subtype
Business for Sale, Retail
Zoning
General Business B2
Investment Type
Owner/User
Net Operating Income
$250,000
Site & Location
Traffic Count
24,000 vehicles/day
Road Access
Yes
Additional Details
Business Included
Yes
Service Bays
7
Amenities
heated and cooled
paint booth
security package
new bay doors
Building Details
Year Built
1959
Buildings
1
Stories
1
Units
1
Construction
masonry
Listing Agency:
TDG Commercial
Listed By:
Brock Bean · License #462328
Source:
Crexi
Added: Feb 19
Changed: Aug 30
Last Checked: Aug 31 at 9:10AM
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 TDG Commercial
Investment Insights
Based on property information with market context.
This freestanding automotive property includes a 6,500-square-foot masonry building constructed in 1959. The shop has 7 lifts, a Hunter alignment machine, a dedicated refinishing and paint booth, and infrastructure for collision work. Heating and cooling serve the full facility, while brand-new bay doors and an upgraded security package support daily operations. The sale includes core shop FF&E, including an air compressor and welding, tire, and AC machines, along with active used car dealer, collision, and used tire licenses.
Located at 10311 Eight Mile W in Detroit, the property offers approximately ±103 feet of frontage on W 8 Mile Rd, direct curb cuts, and access to major regional arteries. The corridor carries 24,000 AADT and sits within a dense residential trade area.
Located at 10311 Eight Mile W in Detroit, the property offers approximately ±103 feet of frontage on W 8 Mile Rd, direct curb cuts, and access to major regional arteries. The corridor carries 24,000 AADT and sits within a dense residential trade area.
Key Highlights
- 6,500 SF masonry automotive building constructed in 1959
- 7 lifts and Hunter alignment machine
- Dedicated refinishing/paint booth with collision‑work infrastructure
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
$80,060
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
5.72%
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%
$1,601,200
$1.6M
Cap Rate 7%
$1,143,714
$1.1M
Cap Rate 9%
$889,556
$889.6K
Market Conditions
NOI Build-Up for 6,500 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
$120.9K $18.60/SF
− Vacancy
−$6.5K −$1.00/SF
EGI
$114.4K $17.60/SF
− OpEx
−$34.3K −$5.28/SF
NOI
$80.1K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,601,200
Cap Rate 7%
$1,143,714
Cap Rate 9%
$889,556
Alternative Uses
Best Use
Retail
$1.14M
$1.00M – $1.33M
NOI $80,060 @ 7.0% cap · market cap 5.72%
Second Best
Industrial
$451.6K
$395.2K – $526.9K
NOI $31,614 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,375 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Service bays
24,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
98k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 45%
Shops & Services 43%
Dining 11%
Electronics 1%
Kroger
Groceries
44,474 visits/mo
0.3 miles
Dollar Tree
Shops & Services
16,865 visits/mo
0.3 miles
Burger King
Dining
7,044 visits/mo
0.1 miles
Dollar General
Shops & Services
6,031 visits/mo
0.2 miles
Exxon
Shops & Services
6,017 visits/mo
0.4 miles
Demographics for 48221, MI
38,204
Population
17,452
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
7,347
Density / Sq Mi
$55,583
Median Household Income
$37,019
Median Earnings
$1,174
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Masonry automotive facility with collision and refinishing capabilities.
Where is this auto shop located?
The property is located at 10311 Eight Mile W Detroit, MI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 6,500 SF masonry automotive building constructed in 1959; 7 lifts and Hunter alignment machine; Dedicated refinishing/paint booth with collision‑work infrastructure
