Auto Repair
For Sale
$123,500
11920 Grand River Ave, Detroit, MI 48204
B4 zoning identifies the property for general auto repair use, subject to applicable zoning requirements.
Property Size1,946 SF
Lot Size0.12 Acres
Price / SF$63.46
Days on Market402
Property Features for 11920 Grand River Ave
General Information
Standard status
Active
Size
1,946 SF
Lot size
0.12 Acres
Zoning
B4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,551
Building Details
Year Built
1939
Listing Agency:
eXp Realty, LLC
(313) 778-1802
Listed By:
Relacha Gist
(313) 778-1802
Source:
Exprealty
Added: Jul 26, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:23PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
The property includes a 1,946-square-foot auto repair building on a 5,227-square-foot lot. Constructed in 1939, the facility is equipped with a forced-air HVAC unit and is positioned for continued automotive use or potential redevelopment, subject to zoning requirements.
Located at 11920 W Grand River Avenue in Detroit, the property offers access to the Jefferies Freeway, I-96. The site is within Detroit’s B4 Retail Zoning district, identified for general auto repair use.
Located at 11920 W Grand River Avenue in Detroit, the property offers access to the Jefferies Freeway, I-96. The site is within Detroit’s B4 Retail Zoning district, identified for general auto repair use.
Key Highlights
- 1,946 SF building on a 5,227 SF lot
- B4 zoning designated for General Auto Repair
- Built in 1939
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
$9,465
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
7.66%
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%
$189,300
$189.3K
Cap Rate 7%
$135,214
$135.2K
Cap Rate 9%
$105,167
$105.2K
Market Conditions
NOI Build-Up for 1,946 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
$14.2K $7.32/SF
− Vacancy
−$724 −$0.37/SF
EGI
$13.5K $6.95/SF
− OpEx
−$4.1K −$2.08/SF
NOI
$9.5K $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%
$189,300
Cap Rate 7%
$135,214
Cap Rate 9%
$105,167
Alternative Uses
Best Use
Retail
$342.4K
$299.6K – $399.5K
NOI $23,969 @ 7.0% cap · market cap 19.41%
Second Best
Industrial
$135.2K
$118.3K – $157.8K
NOI $9,465 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$429.3K
$375.6K – $500.9K
NOI $30,051 @ 7.0% cap · market cap 24.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
19k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
6,799 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,978 visits/mo
0.3 miles
BP
Shops & Services
3,620 visits/mo
0.1 miles
Sunoco
Shops & Services
3,353 visits/mo
0.1 miles
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - B4 zoning identifies the property for general auto repair use, subject to applicable zoning requirements.
Where is this auto shop located?
The property is located at 11920 Grand River Ave Detroit, MI.
What is the asking price?
The asking price for this property is $123,500.
What are key features of this property?
This property features: 1,946 SF building on a 5,227 SF lot; B4 zoning designated for General Auto Repair; Built in 1939
