Freestanding Auto Repair
For Sale
$999,000
10311 W 8 Mile Road, Detroit, MI 48221
Masonry service center with collision refinishing capability, climate control, and included shop equipment.
Property Size6,508 SF
Days on Market43
Property Features for 10311 W 8 Mile Road
General Information
Standard status
Active
Size
6,508 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$7,524
Building Details
Building Size
6,508 SF
Year Built
1976
Listing Agency:
Keller Williams Paint Creek
(248) 649-7200
Listed By:
Joseph Delia · License #6501372650
Source:
Erareardonrealty
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 25 at 9:15AM
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.
The freestanding masonry facility at 10311 W 8 Mile Road includes 6,500 square feet dedicated to auto repair and collision services. The building is fully heated and cooled and configured with seven lifts, a Hunter alignment machine, and a separate refinishing booth. Recent improvements include new bay doors with security coverings and an updated security package. Core equipment conveyed with the property includes an air compressor, welding machine, and tire and AC machines.
The property occupies approximately 0.24 acres with about 103 total feet along W 8 Mile Road. It is positioned near Woodward Avenue and benefits from reported traffic counts exceeding 24,000 vehicles per day. Used Tire, Used Car Dealer, and Collision Licenses are included, subject to buyer qualification for transfer.
The property occupies approximately 0.24 acres with about 103 total feet along W 8 Mile Road. It is positioned near Woodward Avenue and benefits from reported traffic counts exceeding 24,000 vehicles per day. Used Tire, Used Car Dealer, and Collision Licenses are included, subject to buyer qualification for transfer.
Key Highlights
- 6,500 SF freestanding masonry auto repair and collision facility
- Approximately 0.24‑acre parcel with 103 total feet of W 8 Mile frontage
- Seven lifts, Hunter alignment machine, and 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
625
Businesses Nearby
22k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 13%
Electronics 4%
Pet Supplies Plus
Shops & Services
6,947 visits/mo
0.5 miles
Dollar General
Shops & Services
6,620 visits/mo
0.5 miles
Comerica Bank
Shops & Services
2,946 visits/mo
0.5 miles
Papa's Pizza & BBQ
Dining
2,052 visits/mo
0.4 miles
Independence Bank
Shops & Services
1,575 visits/mo
0.5 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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Similar Off Market Nearby
- Rite Collision — 8530 W McNichols Rd, Detroit, MI 48221
- Mark V Collision — 3239 W McNichols Rd, Detroit, MI 48221
- Bagley Auto Repair — 7642 W McNichols Rd, Detroit, MI 48221
- 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 - Masonry service center with collision refinishing capability, climate control, and included shop equipment.
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: 6,500 SF freestanding masonry auto repair and collision facility; Approximately 0.24‑acre parcel with 103 total feet of W 8 Mile frontage; Seven lifts, Hunter alignment machine, and dedicated refinishing/paint booth
