Storage Garage
For Sale
$776,000
10320 N Holly Road, Grand Blanc, MI 48439
Premium garage condo units with private half baths, vaulted ceilings, finished interiors, and dedicated climate and electrical systems.
Property Size4,500 SF
Price / SF$172.44
Days on Market72
Property Features for 10320 N Holly Road
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Amenities
3
Composition
3050
Building Details
Year Built
20
Listing Agency:
Gearhead Homes Realty Inc
(248) 550-5221
Listed By:
Brian McNamara · License #6501376331
(248) 550-5221
Source:
Xome
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 11 at 5:13AM
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.
Hollywood Garage Condos offers premium, fully finished storage garage condo units designed for vehicle, RV, boat, hobby, and small-business storage or workspace needs. Each unit includes vaulted ceilings (20' at the front tapering to 17' at the rear), a private half bathroom, and a floor drain with a filter and oil/water separation system. Interiors are fully finished with block and drywall, including R19 insulated walls and R38 insulated ceilings, reinforced concrete floors with a vapor barrier, and LED lighting. Plumbing rough-ins are in place for a utility sink, with a 14' insulated garage door featuring window panels, jackshaft opener with remote, and a 100-amp electrical service with outlets. Units also include forced-air gas heat and A/C with a Wi-Fi thermostat, interior hose bib, Comcast internet hookup, pre-wiring for two ceiling fans, and plumbing provisions for water and gas.
The property is listed for sale in Grand Blanc, Michigan.
Optional post-closing upgrades may include a mezzanine level and additional electrical and fan options. Units may also be combined for additional square footage. Association dues are $96 per month and cover security-gate access, outdoor lighting, snow removal, grounds maintenance, an onsite dumpster, and security cameras. Financing is available, subject to qualification.
The property is listed for sale in Grand Blanc, Michigan.
Optional post-closing upgrades may include a mezzanine level and additional electrical and fan options. Units may also be combined for additional square footage. Association dues are $96 per month and cover security-gate access, outdoor lighting, snow removal, grounds maintenance, an onsite dumpster, and security cameras. Financing is available, subject to qualification.
Key Highlights
- Premium 4,500 SF garage condo units designed for car collectors, RV/boat owners, and storage/workspace needs
- Each unit features vaulted ceilings (20' at the front tapering to 17' at the rear) and a private half bathroom
- Floor drain with filter plus an oil/water separation system included in every unit
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
$35,910
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
4.63%
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%
$718,200
$718.2K
Cap Rate 7%
$513,000
$513.0K
Cap Rate 9%
$399,000
$399.0K
Market Conditions
NOI Build-Up for 4,500 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
$54.0K $12.00/SF
− Vacancy
−$2.7K −$0.60/SF
EGI
$51.3K $11.40/SF
− OpEx
−$15.4K −$3.42/SF
NOI
$35.9K $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%
$718,200
Cap Rate 7%
$513,000
Cap Rate 9%
$399,000
Alternative Uses
Best Use
Self Storage
$513.0K
$448.9K – $598.5K
NOI $35,910 @ 7.0% cap · market cap 4.63%
Second Best
Warehouse
$442.1K
$386.9K – $515.8K
NOI $30,948 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$946.9K
$828.6K – $1.10M
NOI $66,284 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
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 - Premium garage condo units with private half baths, vaulted ceilings, finished interiors, and dedicated climate and electrical systems.
Where is this self storage facility located?
The property is located at 10320 N Holly Road Grand Blanc, MI.
What is the asking price?
The asking price for this property is $776,000.
What are key features of this property?
This property features: Premium 4,500 SF garage condo units designed for car collectors, RV/boat owners, and storage/workspace needs; Each unit features vaulted ceilings (20' at the front tapering to 17' at the rear) and a private half bathroom; Floor drain with filter plus an oil/water separation system included in every unit
