Used Car
For Sale
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10411 W 8 Mile Rd, Detroit, MI 48227
Automotive sales property with an established dealership use and B-2 zoning.
Property Size2,000 SF
Price / SF$287.50
Days on Market118
Property Features for 10411 W 8 Mile Rd
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Zoning
B-2
Investment Type
Owner/User
Additional Details
Road Access
Yes
Building Details
Year Built
1992
Stories
1
Tenancy
Single
Listing Agency:
Thomas Duke Company
(248) 476-3700
Listed By:
Andrew Battersby · License #MI 6501384188
Source:
Crexi
Added: May 7
Changed: Aug 31
Last Checked: Sep 1 at 4:20AM
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 Duke Company
Investment Insights
Based on property information with market context.
This automotive property is configured for an established used car dealership operation and carries B-2 zoning. The building dates to 1992, providing a defined existing commercial improvement for automotive sales use.
The property is located at 10411 W 8 Mile Rd in Detroit, on the south side of the roadway between Meyers Rd and Wyoming Ave. Its position along W 8 Mile Rd places the dealership within an established corridor with access from a major east-west thoroughfare.
The property is located at 10411 W 8 Mile Rd in Detroit, on the south side of the roadway between Meyers Rd and Wyoming Ave. Its position along W 8 Mile Rd places the dealership within an established corridor with access from a major east-west thoroughfare.
Key Highlights
- Established used car dealership property
- B‑2 zoning
- Building constructed in 1992
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
$17,678
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
3.07%
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%
$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
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
$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 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%
$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.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 13%
Electronics 3%
BP
Shops & Services
7,584 visits/mo
0.2 miles
Sunoco
Shops & Services
6,252 visits/mo
0.2 miles
Little Caesars Pizza
Dining
3,412 visits/mo
0.4 miles
Exxon
Shops & Services
3,021 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
2,564 visits/mo
0.5 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
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Automotive sales property with an established dealership use and B-2 zoning.
Where is this automotive property located?
The property is located at 10411 W 8 Mile Rd 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: Established used car dealership property; B‑2 zoning; Building constructed in 1992
