Auto Shop with Roll-Up
For Sale
$350,000
11392 GREENFIELD RD, Detroit, MI 48227
High-ceiling work areas feature concrete flooring and integrated LED lighting, with finished office or showroom space.
Property Size3,200 SF
Price / SF$109.38
Days on Market10
Property Features for 11392 GREENFIELD RD
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Industrial
Amenities
high ceilings
integrated hexagonal LED lighting fixtures
durable concrete flooring
wood-look laminate flooring
multiple roll-up garage doors
painted cinder block walls
interior office or showroom area
finished walls
ample electrical outlets
3
8087.27
Building Details
Year Built
19
Listing Agency:
ARG Realty
(313) 792-8030
Listed By:
Abir El Cheikh Ali · License #6501391808
(313) 404-5042
Source:
Xome
Added: Aug 30
Changed: Sep 5
Last Checked: Sep 7 at 5:56AM
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 ARG Realty
Investment Insights
Based on property information with market context.
This automotive property is configured for mechanic and detail-shop operations, with high ceilings, durable concrete flooring in the work areas, and integrated hexagonal LED fixtures. Multiple roll-up garage doors provide access to the service areas, while painted cinder block walls and a finished interior office or showroom support the overall layout. The office area includes wood-look laminate flooring and ample electrical outlets.
Located at 11392 Greenfield Rd in Detroit, the property sits along a commercial corridor described as connecting Dearborn and Detroit. Automotive dealers and auto-parts stores are identified in the surrounding area, reinforcing the site's automotive-oriented setting. The property is described as mechanic-zoned and includes both operational work areas and finished customer-facing space.
Located at 11392 Greenfield Rd in Detroit, the property sits along a commercial corridor described as connecting Dearborn and Detroit. Automotive dealers and auto-parts stores are identified in the surrounding area, reinforcing the site's automotive-oriented setting. The property is described as mechanic-zoned and includes both operational work areas and finished customer-facing space.
Key Highlights
- Auto shop configured for mechanic and detail‑shop operations
- High ceilings with integrated hexagonal LED lighting fixtures
- Multiple roll‑up garage doors provide access to work areas
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
$28,284
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
8.08%
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%
$565,680
$565.7K
Cap Rate 7%
$404,057
$404.1K
Cap Rate 9%
$314,267
$314.3K
Market Conditions
NOI Build-Up for 3,200 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
$44.2K $13.80/SF
− Vacancy
−$3.8K −$1.17/SF
EGI
$40.4K $12.63/SF
− OpEx
−$12.1K −$3.79/SF
NOI
$28.3K $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%
$565,680
Cap Rate 7%
$404,057
Cap Rate 9%
$314,267
Alternative Uses
Best Use
Retail
$404.1K
$353.6K – $471.4K
NOI $28,284 @ 7.0% cap · market cap 8.08%
Second Best
Industrial
$222.3K
$194.6K – $259.4K
NOI $15,564 @ 7.0% cap · market cap 4.45%
Theoretical Best
Multifamily LT 5
$520.6K
$455.5K – $607.4K
NOI $36,443 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
43k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 43%
McDonald's
Dining
17,339 visits/mo
0.1 miles
Citgo
Shops & Services
7,994 visits/mo
0.5 miles
Checkers
Dining
7,329 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,585 visits/mo
0.0 miles
Sunoco
Shops & Services
3,990 visits/mo
0.0 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.
Similar Off Market Nearby
- Al-Laeth Complete Auto Repair | خدمات الليث للميكانك — 9165 Greenfield Rd, Detroit, MI 48228
- Greenfield One Stop Auto Repair — 9160 Greenfield Rd, Detroit, MI 48228
- Bill's Tires & Rims & Repairs — 9232 Greenfield Rd, Detroit, MI 48228
- Towing & Transportation — 9349 Greenfield Rd, Detroit, MI 48228
- A&H Collision — 9185 Greenfield Rd, Detroit, MI 48228
Frequently Asked Questions
What type of property is this?
Auto shop - High-ceiling work areas feature concrete flooring and integrated LED lighting, with finished office or showroom space.
Where is this auto shop located?
The property is located at 11392 GREENFIELD 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: Auto shop configured for mechanic and detail‑shop operations; High ceilings with integrated hexagonal LED lighting fixtures; Multiple roll‑up garage doors provide access to work areas
