Renovated Automotive
For Sale
$575,000
10411 8 Mile W, Detroit, MI 48227
Operating used-car lot with updated electrical work, a hoist, a new gate, and available pylon signage.
Property Size2,000 SF
Days on Market136
Property Features for 10411 8 Mile W
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Amenities
new hoist
new gate
large pylon signage
Building Details
Building Size
2,000 SF
Year Built
1992
Listing Agency:
Thomas A. Duke Company
Listed By:
Andrew Battersby · License #6501384188
(248) 631-8085
Source:
Thomasduke
Added: Jun 2
Changed: Oct 13
Last Checked: Oct 14 at 8:13PM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This automotive property combines an operating used-vehicle lot with a shop that has been renovated. Improvements include new electrical work, a new hoist, and a new gate. Large pylon signage is available, while the billboard is excluded from the sale. Built in 1992, the property is located at 10411 8 Mile W in Detroit, Michigan 48227. Its combination of vehicle-lot operations, shop improvements, and signage provides a defined commercial setting for automotive use.
Key Highlights
- Operating used‑car lot with an on‑site shop
- Shop improvements include new electrical work and a new hoist
- New gate included among recent property improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,678
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,560
$353.6K
Cap Rate 7%
$252,543
$252.5K
Cap Rate 9%
$196,422
$196.4K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$27.6K $13.80/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$25.3K $12.63/SF
− OpEx
−$7.6K −$3.79/SF
NOI
$17.7K $8.84/SF
Area
ZIP 48227
Vacancy
8.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,560
Cap Rate 7%
$252,543
Cap Rate 9%
$196,422
Alternative Uses
Best Use
Retail
$252.5K
$221.0K – $294.6K
NOI $17,678 @ 7.0% cap · market cap 3.07%
Second Best
Industrial
$139.0K
$121.6K – $162.1K
NOI $9,727 @ 7.0% cap · market cap 1.69%
Theoretical Best
Multifamily LT 5
$325.4K
$284.7K – $379.6K
NOI $22,777 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
101k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 44%
Dining 10%
Kroger
Groceries
44,474 visits/mo
0.4 miles
Dollar Tree
Shops & Services
16,865 visits/mo
0.5 miles
Burger King
Dining
7,044 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
7,005 visits/mo
0.4 miles
Dollar General
Shops & Services
6,031 visits/mo
0.3 miles
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Automotive property - Operating used-car lot with updated electrical work, a hoist, a new gate, and available pylon signage.
Where is this automotive property located?
The property is located at 10411 8 Mile W Detroit, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Operating used‑car lot with an on‑site shop; Shop improvements include new electrical work and a new hoist; New gate included among recent property improvements
