Storage Garage
For Sale
$269,900
Pending
10320 N Holly Rd 1-A, Grand Blanc, MI 48439
Brand-new garage condos with private half baths, reinforced floors, and insulated doors, built for RV, boat, and hobby storage.
Property Size1,500 SF
Days on Market50
Property Features for 10320 N Holly Rd 1-A
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Commercial
Additional Details
Clear Height
20 ft
Taxes and HOA fees
Annual Taxes
$6,124
Building Details
Building Size
1,500 SF
Year Built
2026
Listing Agency:
Gearhead Homes Realty Inc
(248) 974-6003
Listed By:
Brian McNamara · License #6501376331
(248) 974-6003
Source:
Elliman
Added: Jul 12
Changed: Aug 14
Last Checked: Aug 29 at 1:06PM
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 Gearhead Homes Realty Inc
Investment Insights
Based on property information with market context.
Brand-new Holly Woods garage condos designed for storage and workspace use. Each premium unit includes a 30'W x 50'D garage footprint with vaulted ceilings (20' at the front tapering to 17' at the rear). Interiors are fully finished with block and drywall, R19 insulated walls, and R38 insulated ceilings. The reinforced concrete floors include a vapor barrier, and LED lighting runs throughout. Each unit has a private half bathroom, plus a floor drain with a filter and oil/water separation system, with plumbing rough-ins for a utility sink. Mechanical and comfort features include a 14' insulated garage door with window panels, a Jackshaft opener with remote, 100-amp electrical service with outlets, forced-air gas heat and A/C controlled by a Wi-Fi thermostat, an interior hose bib, and a Comcast internet hookup. Units are also pre-wired for two ceiling fans and come with plumbing for water and gas.
Units may be combined for additional square footage. Association dues are $102.00 per month, covering security-gate access, outdoor lighting, snow removal, grounds maintenance, onsite dumpster service, and security cameras. Optional upgrades are available after closing, including mezzanine level, utility sink, ceiling fans, and enhanced electrical packages. Financing is available for qualified buyers.
Units may be combined for additional square footage. Association dues are $102.00 per month, covering security-gate access, outdoor lighting, snow removal, grounds maintenance, onsite dumpster service, and security cameras. Optional upgrades are available after closing, including mezzanine level, utility sink, ceiling fans, and enhanced electrical packages. Financing is available for qualified buyers.
Key Highlights
- Brand‑new 2026 Holly Woods garage/storage condos with premium 1,500 SF units (30’W x 50’D).
- Reinforced concrete floors with vapor barrier plus floor drain with filter and oil/water separation system in each unit.
- Each unit includes a private half bathroom and fully finished block and drywall interior.
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
$11,970
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
4.43%
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%
$239,400
$239.4K
Cap Rate 7%
$171,000
$171.0K
Cap Rate 9%
$133,000
$133.0K
Market Conditions
NOI Build-Up for 1,500 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
$18.0K $12.00/SF
− Vacancy
−$900 −$0.60/SF
EGI
$17.1K $11.40/SF
− OpEx
−$5.1K −$3.42/SF
NOI
$12.0K $7.98/SF
Area
Genesee County, MI
Vacancy
5.00%
Lease Rate
$12.00 /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%
$239,400
Cap Rate 7%
$171,000
Cap Rate 9%
$133,000
Alternative Uses
Best Use
Self Storage
$171.0K
$149.6K – $199.5K
NOI $11,970 @ 7.0% cap · market cap 4.43%
Second Best
Warehouse
$147.4K
$129.0K – $171.9K
NOI $10,316 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$315.6K
$276.2K – $368.3K
NOI $22,095 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Brand-new garage condos with private half baths, reinforced floors, and insulated doors, built for RV, boat, and hobby storage.
Where is this self storage facility located?
The property is located at 10320 N Holly Rd 1-A Grand Blanc, MI.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Brand‑new 2026 Holly Woods garage/storage condos with premium 1,500 SF units (30’W x 50’D).; Reinforced concrete floors with vapor barrier plus floor drain with filter and oil/water separation system in each unit.; Each unit includes a private half bathroom and fully finished block and drywall interior.
