Building Details

Building Size 7,000 SF

Listing Agency: NAI Farbman

Listed By: Brad Margolis · License #6501371948 Show Phone

Source: Commercialcafe

Added: Mar 26 Changed: Oct 13 Last Checked: Oct 12 at 5:00PM

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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 NAI Farbman

Investment Insights

Based on property information with market context.

A 7,000 square foot auto repair shop is available for sale. The property is located at 11820-11866 Gratiot Ave, Detroit, MI 48213 and is suitable for auto shops, automotive properties, retail properties, and general commercial real estate purposes.

Key Highlights

• 7,000 SF auto repair shop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,046

Cap Rate

5.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$680,920 $680.9K

Cap Rate 7%

$486,371 $486.4K

Cap Rate 9%

$378,289 $378.3K

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$51.2K $7.32/SF

− Vacancy

−$2.6K −$0.37/SF

EGI

$48.6K $6.95/SF

− OpEx

−$14.6K −$2.08/SF

NOI

$34.0K $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%

$680,920

Cap Rate 7%

$486,371

Cap Rate 9%

$378,289

Alternative Uses

Best Use

Retail

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,218 @ 7.0% cap · market cap 14.37%

Second Best

Industrial

$486.4K

$425.6K – $567.4K (±1% cap)

NOI $34,046 @ 7.0% cap · market cap 5.67%

Theoretical Best

Office A

$1.54M

$1.35M – $1.80M (±1% cap)

NOI $108,096 @ 7.0% cap · market cap 18.02%

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

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick HVAC Service Storage Facility Kitchen & Bath Showroom Real Estate Agency Parking Lot & Garage Electrical Service

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

Location Intelligence

Trade Area within ½ mile

249

Businesses Nearby

33k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 90% Dining 6% Electronics 4%

Family Dollar Shops & Services

15,657 visits/mo 0.4 miles

BP Shops & Services

11,872 visits/mo 0.3 miles

Marathon Petroleum Shops & Services

2,385 visits/mo 0.5 miles

Little Caesars Pizza Dining

1,984 visits/mo 0.1 miles

Boost Mobile Electronics

1,304 visits/mo 0.4 miles

Demographics for 48213, MI

19,088

Population

11,365

Households

1.7

Avg Household Size

39

Median Age

7%

College-Educated

82%

High-School Grad

6.5 sq mi

ZIP Area

2,937

Density / Sq Mi

$33,755

Median Household Income

$24,765

Median Earnings

$837

Median Rent

$52,100

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

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Airport Auto Center — 10000 French Rd, Detroit, MI 48213
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Frequently Asked Questions

What type of property is this?

Auto shop - 7,000 SF auto repair shop for sale.

Where is this auto shop located?

The property is located at 11820-11866 Gratiot Ave Detroit, MI.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: 7,000 SF auto repair shop