Detroit Auto Shop For
For Sale
$350,000
10530 W 7 MILE Rd, Detroit, MI 48221
Auto shop with fenced yard available for purchase in Detroit.
Property Size2,660 SF
Lot Size0.24 Acres
Days on Market149
Property Features for 10530 W 7 MILE Rd
General Information
Standard status
Active
Size
2,660 SF
Lot size
0.24 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,000
Building Details
Building Size
2,660 SF
Year Built
1985
Listing Agency:
My Realty LLC
(248) 207-6307
Listed By:
Joseph Manuel · License #6501302689
(248) 207-6307
Source:
Elliman
Added: Mar 26
Changed: Aug 12
Last Checked: Aug 20 at 9:53AM
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 LLC
Investment Insights
Based on property information with market context.
This commercial property features an auto shop with 3 bays and an office. Additionally, a fenced yard is available for purchase. The property is located in Detroit, MI.
Key Highlights
- 3 bays offer ample space.
- Includes an office area.
- Benefit from a fenced yard.
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
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
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
- Mark V Collision — 3239 W McNichols Rd, Detroit, MI 48221
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- 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 - Auto shop with fenced yard available for purchase in Detroit.
Where is this auto shop located?
The property is located at 10530 W 7 MILE Rd 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: 3 bays offer ample space.; Includes an office area.; Benefit from a fenced yard.
