Freestanding Auto Repair
For Sale
Contact for pricing
10311 W 8 Mile Road, Detroit, MI 48221
Turnkey masonry auto repair and collision shop with seven lifts, alignment equipment, and a heated, cooled work area.
Property Size6,508 SF
Price / SF$153.50
Days on Market169
Property Features for 10311 W 8 Mile Road
General Information
Standard status
Active
Size
6,508 SF
Property subtype
Business for Sale, Retail
Building Details
Year Built
1976
Listing Agency:
Keller Williams Paint Creek
Listed By:
Joseph Delia
Source:
Crexi
Added: Feb 19
Changed: Jul 10
Last Checked: Aug 6 at 2:39PM
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 Keller Williams Paint Creek
Investment Insights
Based on property information with market context.
This freestanding masonry auto repair and collision facility offers 6,500 SF of heated and cooled shop space on a 0.24-acre parcel. The production layout is designed for high-throughput work, supported by seven lifts, a Hunter alignment machine, and a dedicated refinishing/paint booth for collision repairs. The facility also includes equipment such as an air compressor, welding machine, and tire/AC machines. New bay doors with protective security coverings and a modern security package are in place, reinforcing the property’s turn-key readiness.
The building provides approximately 103 feet of frontage along the 8 Mile corridor and is presented as a high-traffic location with reported 24,000+ daily traffic counts. The seller notes the site’s regional connectivity due to its positioning near Woodward Ave.
For tenants or buyers seeking an owner-operator setup, the sale is marketed as turnkey, including the real estate, core shop equipment, and transferable licensing for Used Tire, Used Car Dealer, and Collision (buyer to qualify for transfer). The current operation is described as reporting NOI in the $250K–$300K range, and the shop’s equipment and licensing are intended to support immediate service capacity for repair and collision work.
The building provides approximately 103 feet of frontage along the 8 Mile corridor and is presented as a high-traffic location with reported 24,000+ daily traffic counts. The seller notes the site’s regional connectivity due to its positioning near Woodward Ave.
For tenants or buyers seeking an owner-operator setup, the sale is marketed as turnkey, including the real estate, core shop equipment, and transferable licensing for Used Tire, Used Car Dealer, and Collision (buyer to qualify for transfer). The current operation is described as reporting NOI in the $250K–$300K range, and the shop’s equipment and licensing are intended to support immediate service capacity for repair and collision work.
Key Highlights
- Freestanding 6,500 SF masonry auto repair and collision facility on a ±0.24‑acre parcel
- Approx. 103 ft of frontage on the 8 Mile corridor with 24,000+ daily traffic counts (reported)
- Designed for collision throughput with seven lifts, a Hunter alignment machine, and a dedicated refinishing/paint booth
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
$80,159
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
8.02%
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%
$1,603,180
$1.6M
Cap Rate 7%
$1,145,129
$1.1M
Cap Rate 9%
$890,656
$890.7K
Market Conditions
NOI Build-Up for 6,508 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
$121.0K $18.60/SF
− Vacancy
−$6.5K −$1.00/SF
EGI
$114.5K $17.60/SF
− OpEx
−$34.4K −$5.28/SF
NOI
$80.2K $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%
$1,603,180
Cap Rate 7%
$1,145,129
Cap Rate 9%
$890,656
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,159 @ 7.0% cap · market cap 8.02%
Second Best
Industrial
$452.2K
$395.7K – $527.6K
NOI $31,653 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.44M
$1.26M – $1.67M
NOI $100,498 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
25k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 39%
Marathon Petroleum
Shops & Services
7,005 visits/mo
0.3 miles
Church's Chicken
Dining
6,421 visits/mo
0.0 miles
Exxon
Shops & Services
6,017 visits/mo
0.5 miles
Tubby's
Dining
3,144 visits/mo
0.2 miles
Northland Chrysler Dodge Jeep Ram
Shops & Services
2,143 visits/mo
0.3 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
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Similar Off Market Nearby
- Mark V Collision — 3239 W McNichols Rd, Detroit, MI 48221
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- 6 Mile Auto Solutions — 7100 W McNichols Rd, Detroit, MI 48221
- DETROIT TIRE SERVICE LLC — 7100 W McNichols Rd, Detroit, MI 48221
Frequently Asked Questions
What type of property is this?
Auto shop - Turnkey masonry auto repair and collision shop with seven lifts, alignment equipment, and a heated, cooled work area.
Where is this auto shop located?
The property is located at 10311 W 8 Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Freestanding 6,500 SF masonry auto repair and collision facility on a ±0.24‑acre parcel; Approx. 103 ft of frontage on the 8 Mile corridor with 24,000+ daily traffic counts (reported); Designed for collision throughput with seven lifts, a Hunter alignment machine, and a dedicated refinishing/paint booth
