Building Details

Year Built 1991

Listing Agency: Century 21 Curran & Oberski

Listed By: Sam Baydoun · License #045424 Show Phone

Source: Vmrealestatemichigan

Added: Oct 27 Changed: Oct 30 Last Checked: Oct 30 at 2:31PM

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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 Century 21 Curran & Oberski

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Investment Insights

Based on property information with market context.

This auto shop at 11501 Seven Mile Road is currently used as an auto repair facility. The property was built in 1991 and sits on a corner along Seven Mile Road in Detroit.

Key Highlights

• Currently used as an auto repair facility
• Corner location along Seven Mile Road
• Built in 1991

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,960

Cap Rate

6.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$899,200 $899.2K

Cap Rate 7%

$642,286 $642.3K

Cap Rate 9%

$499,556 $499.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,244 SF

Gross rent

$67.7K $7.32/SF

− Vacancy

−$3.4K −$0.37/SF

EGI

$64.2K $6.95/SF

− OpEx

−$19.3K −$2.08/SF

NOI

$45.0K $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 Rate 5%

$899,200

Cap Rate 7%

$642,286

Cap Rate 9%

$499,556

Alternative Uses

Best Use

Retail

$1.63M

$1.42M – $1.90M (±1% cap)

NOI $113,858 @ 7.0% cap · market cap 16.87%

Second Best

Industrial

$642.3K

$562.0K – $749.3K (±1% cap)

NOI $44,960 @ 7.0% cap · market cap 6.66%

Theoretical Best

Office A

$2.04M

$1.78M – $2.38M (±1% cap)

NOI $142,748 @ 7.0% cap · market cap 21.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Building Supply Kitchen & Bath Showroom Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

330

Businesses Nearby

10k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 65% Dining 35%

Citgo Shops & Services

6,701 visits/mo 0.4 miles

Krispy Krunchy Chicken Dining

3,612 visits/mo 0.4 miles

Demographics for 48234, MI

31,442

Population

15,688

Households

2

Avg Household Size

36

Median Age

11%

College-Educated

84%

High-School Grad

7.8 sq mi

ZIP Area

4,031

Density / Sq Mi

$36,473

Median Household Income

$31,587

Median Earnings

$965

Median Rent

$57,100

Median Home Value

Market

Vacancy Rate% for Retail in Detroit, MI

7.5% 2019

9.2% 2020

8.5% 2021

7.3% 2022

7.9% 2023

7% 2024

7% 2025

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Similar Off Market Nearby

• Keystone Auto — 5143 E Davison St, Detroit, MI 48212
• Hossain’s Auto Repair Llc — 5612 e davison st, detroit, mi 48212
• Mike's Mobile Auto Repair Detroit — 5630 E Davison St, Detroit, MI 48212
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• Romels Towing — 5612 E Davison St, Hamtramck, MI 48212

Frequently Asked Questions

What type of property is this?

Auto shop - The property occupies a corner along Seven Mile Road and is currently used for automotive repair.

Where is this auto shop located?

The property is located at 11501 Seven Mile Rd Detroit, MI.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Currently used as an auto repair facility; Corner location along Seven Mile Road; Built in 1991