Detroit Auto Shop For
For Sale
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10520 Seven Mile W, Detroit, MI 48221
Auto shop with three bays and fenced yard.
Property Size2,660 SF
Price / SF$131.58
Days on Market137
Property Features for 10520 Seven Mile W
General Information
Standard status
Active
Size
2,660 SF
Property subtype
Business for Sale
Listing Agency:
My Realty
Listed By:
Joe Manuel · License #6502433177
Source:
Crexi
Added: Mar 24
Changed: Jul 6
Last Checked: Aug 6 at 9:09AM
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 My Realty
Investment Insights
Based on property information with market context.
This commercial property features an auto shop with three bays and an office. Additionally, a fenced yard is available for purchase in conjunction with the adjacent 5-bay car wash located at 10530 W 7 Mile Rd. The property offers a total size of 2660 square feet and is suitable for automotive-related businesses or retail purposes.
Key Highlights
- Includes 3 bays and an office.
- Fenced yard.
- Option to purchase with 5‑bay car wash at 10530 W 7 Mile Rd.
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
$12,937
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
3.70%
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%
$258,740
$258.7K
Cap Rate 7%
$184,814
$184.8K
Cap Rate 9%
$143,744
$143.7K
Market Conditions
NOI Build-Up for 2,660 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
$19.5K $7.32/SF
− Vacancy
−$989 −$0.37/SF
EGI
$18.5K $6.95/SF
− OpEx
−$5.5K −$2.08/SF
NOI
$12.9K $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 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%
$258,740
Cap Rate 7%
$184,814
Cap Rate 9%
$143,744
Alternative Uses
Best Use
Retail
$468.0K
$409.5K – $546.1K
NOI $32,763 @ 7.0% cap · market cap 9.36%
Second Best
Industrial
$184.8K
$161.7K – $215.6K
NOI $12,937 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$586.8K
$513.5K – $684.6K
NOI $41,076 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
43k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 19%
Apparel 7%
Electronics 5%
Sunoco
Shops & Services
7,058 visits/mo
0.3 miles
Little Caesars Pizza
Dining
6,623 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,745 visits/mo
0.1 miles
Valero Energy
Shops & Services
5,304 visits/mo
0.5 miles
Citgo
Shops & Services
4,495 visits/mo
0.3 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
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sam Detroit Auto Repair centre#1 — 18500 Wyoming Ave, Detroit, MI 48221
- Xpert Car Care — 18310 Wyoming Ave, Detroit, MI 48221
- magic tech auto repair — 18420 James Couzens Fwy, Detroit, MI 48235
- Specialty Auto Electric — 18310 Wyoming Ave, Detroit, MI 48221
- CNJ's Auto Center — 18420 James Couzens Fwy, Detroit, MI 48235
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop with three bays and fenced yard.
Where is this auto shop located?
The property is located at 10520 Seven Mile W Detroit, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Includes **3 bays and an office.**; Fenced yard.; Option to purchase with 5‑bay car wash at 10530 W 7 Mile Rd.
