Multi-Bay Auto Repair
For Sale
Contact for pricing
12200 Grand River Avenue, Detroit, MI 48204
Multi-use auto repair facility with five bays on heavily trafficked Grand River Avenue.
Property Size2,094 SF
Price / SF$71.11
Days on Market329
Property Features for 12200 Grand River Avenue
General Information
Standard status
Active
Size
2,094 SF
Property subtype
Business for Sale, Retail, Industrial
Additional Details
Service Bays
5
Building Details
Year Built
1965
Listing Agency:
Keller Williams Legacy
(313) 995-2600
Listed By:
Amer Jaafar · License #MI 449495
Source:
Crexi
Added: Sep 13, 2025
Changed: Jul 10
Last Checked: Aug 6 at 7:04AM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This multi-use automotive shop is currently set up for auto repair and includes five service bays for hands-on maintenance work. The configuration is well-suited to day-to-day vehicle service operations, with space that can support an oil change and lube workflow and other service and repair tasks depending on the tenant’s needs.
The property is located at 12200 Grand River Avenue in Detroit, MI 48204, on Grand River Avenue in an area described as experiencing heavy traffic. That visibility and passing demand can be beneficial for service-oriented businesses that rely on walk-ins and drive-by customers.
For buyers or tenants looking for an existing, bay-capable automotive facility, the five-bay layout provides a practical foundation for an auto repair shop, lube service, tire-related services, or other related light service and repair operations. The property may also be considered for alternate service uses, such as repair-oriented parts and supply support, given the flexible “multi-use shop” framing in the provided information.
The property is located at 12200 Grand River Avenue in Detroit, MI 48204, on Grand River Avenue in an area described as experiencing heavy traffic. That visibility and passing demand can be beneficial for service-oriented businesses that rely on walk-ins and drive-by customers.
For buyers or tenants looking for an existing, bay-capable automotive facility, the five-bay layout provides a practical foundation for an auto repair shop, lube service, tire-related services, or other related light service and repair operations. The property may also be considered for alternate service uses, such as repair-oriented parts and supply support, given the flexible “multi-use shop” framing in the provided information.
Key Highlights
- Multi‑use auto repair facility on heavily trafficked Grand River Avenue
- Five‑bay shop currently operating as an auto repair business
- Built in 1965
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
$10,185
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
6.84%
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%
$203,700
$203.7K
Cap Rate 7%
$145,500
$145.5K
Cap Rate 9%
$113,167
$113.2K
Market Conditions
NOI Build-Up for 2,094 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
$15.3K $7.32/SF
− Vacancy
−$779 −$0.37/SF
EGI
$14.5K $6.95/SF
− OpEx
−$4.4K −$2.08/SF
NOI
$10.2K $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%
$203,700
Cap Rate 7%
$145,500
Cap Rate 9%
$113,167
Alternative Uses
Best Use
Retail
$368.5K
$322.4K – $429.9K
NOI $25,792 @ 7.0% cap · market cap 17.32%
Second Best
Industrial
$145.5K
$127.3K – $169.8K
NOI $10,185 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$461.9K
$404.2K – $538.9K
NOI $32,336 @ 7.0% cap · market cap 21.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
61k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 22%
McDonald's
Dining
27,407 visits/mo
0.2 miles
Wendy's
Dining
14,200 visits/mo
0.2 miles
BP
Shops & Services
7,019 visits/mo
0.1 miles
KFC
Dining
6,262 visits/mo
0.2 miles
BP
Shops & Services
3,909 visits/mo
0.5 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
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Frequently Asked Questions
What type of property is this?
Auto shop - Multi-use auto repair facility with five bays on heavily trafficked Grand River Avenue.
Where is this auto shop located?
The property is located at 12200 Grand River Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $148,900.
What are key features of this property?
This property features: Multi‑use auto repair facility on heavily trafficked Grand River Avenue; Five‑bay shop currently operating as an auto repair business; Built in 1965
