Auto Shop with Established
10400 W 7 Mile Road, Detroit, MI 48221
For Sale
New
$279,000
The operating automotive business has served customers for more than 70 years.
Property Size3,872 SF
Price / SF$72.06
Days on Market3
Property Features for 10400 W 7 Mile Road
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Business Included
Currently Operating
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Real Estate One-Dbn Hts
Listed By:
Ali Fayz · License MI #6501393929
(313) 460-1981
Source:
Case-realty
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 12 at 2:34AM
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 Real Estate One-Dbn Hts
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
An operating automotive business is offered with a 3,872-square-foot property at 10400 W 7 Mile Road in Detroit. The building dates to 1941 and carries Commercial zoning. The business has been in operation for more than 70 years.
The lease also covers a vacant lot across the street. Inquiries and property visits are to be coordinated through the listing broker.
The lease also covers a vacant lot across the street. Inquiries and property visits are to be coordinated through the listing broker.
Key Highlights
- 3,872‑square‑foot automotive property
- Automotive business operating for more than 70 years
- Building constructed in 1941
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,832
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,640
$376.6K
Cap Rate 7%
$269,029
$269.0K
Cap Rate 9%
$209,244
$209.2K
Market Conditions
NOI Build-Up for 3,872 SF
Gross rent
$28.3K $7.32/SF
− Vacancy
−$1.4K −$0.37/SF
EGI
$26.9K $6.95/SF
− OpEx
−$8.1K −$2.08/SF
NOI
$18.8K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,640
Cap Rate 7%
$269,029
Cap Rate 9%
$209,244
Alternative Uses
Best Use
Retail
$681.3K
$596.1K – $794.9K
NOI $47,691 @ 7.0% cap · market cap 17.09%
Second Best
Industrial
$269.0K
$235.4K – $313.9K
NOI $18,832 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$854.2K
$747.4K – $996.5K
NOI $59,792 @ 7.0% cap · market cap 21.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
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
$138,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Auto shops in Detroit, MI
Properties on Market for Auto shops in Detroit
Vacancy Rate% for Retail in Detroit, MI
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 - The operating automotive business has served customers for more than 70 years.
Where is this auto shop located?
The property is located at 10400 W 7 Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 3,872‑square‑foot automotive property; Automotive business operating for more than 70 years; Building constructed in 1941
