Detroit Auto Repair
For Sale
$123,500
11920 W Grand River Ave, Detroit, MI 48204
Auto repair facility in high-visibility Detroit location.
Property Size1,946 SF
Lot Size0.12 Acres
Price / SF$63.46
Days on Market164
Property Features for 11920 W Grand River Ave
General Information
Standard status
Active
Size
1,946 SF
Lot size
0.12 Acres
Property subtype
Commercial
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:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 20 at 11:06AM
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.
This auto repair facility is located in Detroit's B4 Retail Zoning district. The building, constructed in 1939, has a size of 1946 square feet and sits on a 5,227 square foot lot. It features a forced air HVAC unit. The property is suitable for auto repair, subject to zoning regulations. The location offers high traffic and excellent visibility. It provides easy access to Jefferies Freeway (I-96) and is in close proximity to major freeways, thoroughfares, and city amenities. This property presents an opportunity for an owner-user or investor looking to operate or redevelop in a high-visibility corridor.
Key Highlights
- High‑traffic location with excellent visibility in Detroit.
- Zoned B4 for General Auto Repair.
- Easy access to Jefferies Freeway (I‑96).
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
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 - Auto repair facility in high-visibility Detroit location.
Where is this auto shop located?
The property is located at 11920 W 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: High‑traffic location with excellent visibility in Detroit.; Zoned B4 for General Auto Repair.; Easy access to Jefferies Freeway (I‑96).
