Gas Station with 3-Bay
For Sale
$299,000
Pending
3652 Gratiot Ave, Detroit, MI 48207
Gas station property with four islands and an attached three-bay garage for automotive and retail uses.
Property Size3,014 SF
Days on Market502
Property Features for 3652 Gratiot Ave
General Information
Standard status
Pending
Size
3,014 SF
Property subtype
Commercial
Building Details
Year Built
1995
Listing Agency:
RE/MAX Team 2000
Listed By:
Yousef Beydoun · License #6501354088
(313) 525-1101
Source:
Metrodetroithomeguide
Added: Apr 22, 2025
Changed: Sep 4
Last Checked: Sep 1 at 10:18PM
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 for-sale gas station property includes more than 3,000 square feet and features an attached three-bay garage. The site is configured with four islands, supporting vehicle fueling activity and related on-site operations. The current offering notes no supply contract or deed restrictions, with information presented as reliable but not guaranteed.
The property is described as conveniently located minutes from Downtown Detroit. It is listed at 3652 Gratiot Ave, with the sale being positioned as an opportunity to re-establish operations.
For buyers seeking an automotive-oriented site, the combination of fueling infrastructure and an attached three-bay garage can support a range of practical uses consistent with the existing improvements. The four-island layout may help accommodate ongoing or planned vehicle service activity, while the absence of a supply contract or deed restrictions can simplify certain operational decisions. Buyers should conduct their own due diligence regarding permits, site condition, and any intended redevelopment or use approvals.
The property is described as conveniently located minutes from Downtown Detroit. It is listed at 3652 Gratiot Ave, with the sale being positioned as an opportunity to re-establish operations.
For buyers seeking an automotive-oriented site, the combination of fueling infrastructure and an attached three-bay garage can support a range of practical uses consistent with the existing improvements. The four-island layout may help accommodate ongoing or planned vehicle service activity, while the absence of a supply contract or deed restrictions can simplify certain operational decisions. Buyers should conduct their own due diligence regarding permits, site condition, and any intended redevelopment or use approvals.
Key Highlights
- Gas station property with four islands
- Over 3,000 SF total building area
- Attached three‑bay garage for automotive and retail uses
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
$14,659
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
4.90%
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%
$293,180
$293.2K
Cap Rate 7%
$209,414
$209.4K
Cap Rate 9%
$162,878
$162.9K
Market Conditions
NOI Build-Up for 3,014 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
$22.1K $7.32/SF
− Vacancy
−$1.1K −$0.37/SF
EGI
$20.9K $6.95/SF
− OpEx
−$6.3K −$2.08/SF
NOI
$14.7K $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%
$293,180
Cap Rate 7%
$209,414
Cap Rate 9%
$162,878
Alternative Uses
Best Use
Specialty Retail
$568.2K
$497.2K – $662.9K
NOI $39,775 @ 7.0% cap · market cap 13.30%
Second Best
Retail
$530.3K
$464.0K – $618.7K
NOI $37,123 @ 7.0% cap · market cap 12.42%
Theoretical Best
Office A
$664.9K
$581.8K – $775.7K
NOI $46,543 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Groceries 23%
Dining 22%
Electronics 11%
Family Dollar
Shops & Services
7,356 visits/mo
0.5 miles
Save-A-Lot
Groceries
7,311 visits/mo
0.1 miles
KFC
Dining
7,143 visits/mo
0.1 miles
Sunoco
Shops & Services
5,161 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
3,643 visits/mo
0.1 miles
Demographics for 48207, MI
21,704
Population
13,026
Households
1.7
Avg Household Size
42
Median Age
35%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
3,445
Density / Sq Mi
$44,561
Median Household Income
$43,377
Median Earnings
$1,040
Median Rent
$193,800
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?
Gas station - Gas station property with four islands and an attached three-bay garage for automotive and retail uses.
Where is this gas station located?
The property is located at 3652 Gratiot Ave Detroit, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Gas station property with four islands; Over 3,000 SF total building area; Attached three‑bay garage for automotive and retail uses
