Auto Shop with Fully Equipped Repair
For Sale
$1,150,000
Pending
29944 Ford Rd, Garden City, MI 48135
Auto shop and office on a 1.57-acre site off Ford Rd with monument signage and space for storage or expansion.
Property Size5,250 SF
Lot Size1.57 Acres
Days on Market1004
Property Features for 29944 Ford Rd
General Information
Standard status
Pending
Size
5,250 SF
Lot size
1.57 Acres
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$22,379
Amenities
Monument signage
Building Details
Buildings
2
Listing Agency:
RE/MAX Team 2000
(313) 561-0900
Listed By:
Yousef Beydoun · License #6501354088
(313) 561-0900
Source:
Exprealty
Added: Nov 30, 2023
Changed: Aug 20
Last Checked: Aug 29 at 2:26PM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This auto shop property includes two buildings on a 1.57-acre lot, offering room for vehicle storage and potential expansion or redevelopment. The main auto shop building totals 4,800 SF and is described as fully equipped for automotive repair operations. A separate 440 SF office building supports on-site administration. The sale includes the real estate and all fixtures.
The property is located on Ford Rd, identified as heavily traveled and in demand, with monument signage on-site. Public remarks also note many national retailers in the immediate vicinity.
A total of 5,240 SF is reported across the two buildings. Proof of funds or a bank letter is required prior to showing, and employees are not to be approached.
The property is located on Ford Rd, identified as heavily traveled and in demand, with monument signage on-site. Public remarks also note many national retailers in the immediate vicinity.
A total of 5,240 SF is reported across the two buildings. Proof of funds or a bank letter is required prior to showing, and employees are not to be approached.
Key Highlights
- Two buildings totaling 5,240 SF on a 1.57‑acre lot
- Auto shop building totals 4,800 SF and is described as fully equipped
- Separate 440 SF office building on site
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
$49,745
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
4.33%
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%
$994,900
$994.9K
Cap Rate 7%
$710,643
$710.6K
Cap Rate 9%
$552,722
$552.7K
Market Conditions
NOI Build-Up for 5,250 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
$75.6K $14.40/SF
− Vacancy
−$4.5K −$0.86/SF
EGI
$71.1K $13.54/SF
− OpEx
−$21.3K −$4.06/SF
NOI
$49.7K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$994,900
Cap Rate 7%
$710,643
Cap Rate 9%
$552,722
Alternative Uses
Best Use
Retail
$710.6K
$621.8K – $829.1K
NOI $49,745 @ 7.0% cap · market cap 4.33%
Second Best
Industrial
$388.3K
$339.8K – $453.0K
NOI $27,180 @ 7.0% cap · market cap 2.36%
Theoretical Best
Specialty Retail
$972.0K
$850.5K – $1.13M
NOI $68,040 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
154k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 34%
Groceries 15%
Apparel 4%
McDonald's
Dining
32,019 visits/mo
0.3 miles
Aldi
Groceries
23,491 visits/mo
0.2 miles
Dollar Tree
Shops & Services
16,471 visits/mo
0.4 miles
BP
Shops & Services
14,636 visits/mo
0.2 miles
Tim Hortons
Dining
11,362 visits/mo
0.2 miles
Demographics for 48135, MI
27,380
Population
11,395
Households
2.4
Avg Household Size
41
Median Age
15%
College-Educated
91%
High-School Grad
5.9 sq mi
ZIP Area
4,641
Density / Sq Mi
$64,396
Median Household Income
$39,987
Median Earnings
$991
Median Rent
$162,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A&Q Auto Repair Center Inc — 1716 Merriman Rd, Westland, MI 48185
- Quality Tire & Auto repair — 31330 Ford Rd, Garden City, MI 48135
- One Stop Oil Shop — 31068 Ford Rd, Garden City, MI 48135
- Doug's Auto Body — Garden City, MI 48135
- Hollywood Sound — 30254 Ford Rd, Garden City, MI 48135
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop and office on a 1.57-acre site off Ford Rd with monument signage and space for storage or expansion.
Where is this auto shop located?
The property is located at 29944 Ford Rd Garden City, MI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two buildings totaling 5,240 SF on a 1.57‑acre lot; Auto shop building totals 4,800 SF and is described as fully equipped; Separate 440 SF office building on site
