Building Details

Building Size 1,421 SF

Year Built 1970

Buildings 1

Stories 1

Tenancy Single

Listing Agency: RE/MAX COMMERCIAL GROUP

Listed By: Matthew Wisniewski · License #6501360426 Show Phone

Source: Cpix.resimplifi

Added: Oct 14 Changed: Oct 16 Last Checked: Oct 16 at 5:13AM

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Investment Insights

Based on property information with market context.

This freestanding auto shop in Grand Ledge, Michigan, was built in 1970 and includes dedicated parking. The property is occupied under a single-tenant lease, with the tenant responsible for utilities, routine interior maintenance, taxes, and groundskeeping. The current tenant is considered unlikely to renew, and the remarks identify mid-2028 as a potential point for owner occupancy or re-leasing.

The property supports auto glass operations or other commercial uses permitted by local ordinances.

Key Highlights

• Built in 1970; dedicated parking
• Single‑tenant lease with tenant‑paid utilities, interior maintenance, taxes, and groundskeeping
• Potential owner occupancy or re‑leasing in mid‑2028; current tenant is unlikely to renew

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,642

Cap Rate

7.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$252,840 $252.8K

Cap Rate 7%

$180,600 $180.6K

Cap Rate 9%

$140,467 $140.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,421 SF

Gross rent

$22.0K $15.48/SF

− Vacancy

−$3.9K −$2.77/SF

EGI

$18.1K $12.71/SF

− OpEx

−$5.4K −$3.81/SF

NOI

$12.6K $8.90/SF

Area

Eaton County, MI

Vacancy

17.90%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$252,840

Cap Rate 7%

$180,600

Cap Rate 9%

$140,467

Alternative Uses

Best Use

Retail

$180.6K

$158.0K – $210.7K (±1% cap)

NOI $12,642 @ 7.0% cap · market cap 7.05%

Second Best

Industrial

$100.6K

$88.0K – $117.4K (±1% cap)

NOI $7,041 @ 7.0% cap · market cap 3.93%

Theoretical Best

Multifamily LT 5

$16.36M

$14.31M – $19.09M (±1% cap)

NOI $1,145,169 @ 7.0% cap · market cap 639.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Safelite AutoGlass General Contractor

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Big Box & Wholesale Store Auto Parts Store Electrical Service Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

412

Businesses Nearby

7k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 73% Dining 27%

Marathon Petroleum Shops & Services

5,062 visits/mo 0.1 miles

Domino's Pizza Dining

1,966 visits/mo 0.1 miles

Safelite AutoGlass Shops & Services

339 visits/mo 0.1 miles

Demographics for 48837, MI

19,189

Population

8,638

Households

2.2

Avg Household Size

42

Median Age

39%

College-Educated

98%

High-School Grad

78.4 sq mi

ZIP Area

245

Density / Sq Mi

$93,161

Median Household Income

$54,791

Median Earnings

$1,034

Median Rent

$239,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Auto shop - The current tenant covers utilities, interior maintenance, taxes, and groundskeeping under a single-tenant lease.

Where is this auto shop located?

The property is located at 126 E Jefferson St Grand Ledge, MI.

What is the asking price?

The asking price for this property is $179,200.

What are key features of this property?

This property features: Built in 1970; dedicated parking; Single‑tenant lease with tenant‑paid utilities, interior maintenance, taxes, and groundskeeping; Potential owner occupancy or re‑leasing in mid‑2028; current tenant is unlikely to renew