Finished Garage Storage
For Sale
$776,000
10320 N Holly Rd, Grand Blanc, MI 48439
Finished interiors support vehicle storage, hobbies, and small-business workspace needs.
Property Size4,500 SF
Price / SF$172.44
Days on Market19
Property Features for 10320 N Holly Rd
General Information
Standard status
Active
Size
4,500 SF
Warehouse & Industrial
Drive-In Doors
1
Power
100 amps
Conditioned Warehouse
Yes
Amenities
security-gate access
outdoor lighting
snow removal
grounds maintenance
onsite dumpster
security cameras
Building Details
Year Built
2026
Listing Agency:
Gearhead Homes Realty Inc
(248) 974-6003
Listed By:
Brian McNamara · License #6501376331
Source:
Katie-k
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 29 at 11:39AM
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.
This garage condominium property offers 4,500 sq. ft. units suited to car collectors, RV owners, boat owners, hobbyists, and small-business storage or workspace. Units can be combined for additional square footage. Interior construction includes block and drywall, R19 insulated walls, R38 insulated ceilings, reinforced concrete floors with a vapor barrier, LED lighting, a private half bathroom, and a floor drain with an oil/water separation system.
Each unit is equipped with a 14’ insulated garage door with window panels, remote-operated Jackshaft opener, 100-amp electrical service, forced-air gas heat and A/C, Wi-Fi thermostat, interior hose bib, Comcast internet hookup, and plumbing for water and gas. Rough-ins are provided for a utility sink, and the units are pre-wired for two ceiling fans. Optional post-closing improvements include a mezzanine, utility sink, ceiling fans, and enhanced electrical packages. The property is located at 10320 N Holly Rd in Grand Blanc, Michigan, with construction scheduled for 2026.
Each unit is equipped with a 14’ insulated garage door with window panels, remote-operated Jackshaft opener, 100-amp electrical service, forced-air gas heat and A/C, Wi-Fi thermostat, interior hose bib, Comcast internet hookup, and plumbing for water and gas. Rough-ins are provided for a utility sink, and the units are pre-wired for two ceiling fans. Optional post-closing improvements include a mezzanine, utility sink, ceiling fans, and enhanced electrical packages. The property is located at 10320 N Holly Rd in Grand Blanc, Michigan, with construction scheduled for 2026.
Key Highlights
- 4,500 sq. ft. garage units designed for vehicle storage, hobbies, and small‑business workspace
- 20’ vaulted ceilings at the front tapering to 17’ at the rear
- 14’ insulated garage door with window panels and remote Jackshaft opener
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
$25,487
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
3.28%
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%
$509,740
$509.7K
Cap Rate 7%
$364,100
$364.1K
Cap Rate 9%
$283,189
$283.2K
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
$40.5K $9.00/SF
− Vacancy
−$4.1K −$0.91/SF
EGI
$36.4K $8.09/SF
− OpEx
−$10.9K −$2.43/SF
NOI
$25.5K $5.66/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$509,740
Cap Rate 7%
$364,100
Cap Rate 9%
$283,189
Alternative Uses
Best Use
Industrial
$364.1K
$318.6K – $424.8K
NOI $25,487 @ 7.0% cap · market cap 3.28%
Second Best
Flex RnD
$360.6K
$315.6K – $420.7K
NOI $25,244 @ 7.0% cap · market cap 3.25%
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
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Acument Global Technologies — 4160 E Baldwin Rd, Holly, MI 48442
Frequently Asked Questions
What type of property is this?
Parking lot & garage - Finished interiors support vehicle storage, hobbies, and small-business workspace needs.
Where is this parking lot & garage located?
The property is located at 10320 N Holly Rd 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: 4,500 sq. ft. garage units designed for vehicle storage, hobbies, and small‑business workspace; 20’ vaulted ceilings at the front tapering to 17’ at the rear; 14’ insulated garage door with window panels and remote Jackshaft opener
