Automotive Repair and Car
19700 WOODWARD Avenue Unit SourceFi Detroit, MI 48203
19700 WOODWARD Avenue Unit SourceFi, Detroit, MI, 48203
$600,000
For Sale
$600,000
Property is currently operated as a used car lot and repair facility, with land value emphasized for development.
Property Size5,000 SF
Price / SF$120
Days on Market2822
Property Features for 19700 WOODWARD Avenue Unit SourceFi
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing Agency
(586) 436-3295
Listed by
First Team Real Estate
(586) 436-3295
Source
Xome
Added: Oct 27, 2018 Checked: Jul 18 at 3:42 am
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 First Team Real Estate
Investment Insights
Based on property information with market context.
This property is currently used as a used car lot and repair facility. The sale includes 19700–19680 Woodward, and the offering is presented with value primarily in the land for development.
The site is described as being close to the State Fair development area. Prospective buyers should contact the listing broker for additional details regarding the property and development considerations.
The site is described as being close to the State Fair development area. Prospective buyers should contact the listing broker for additional details regarding the property and development considerations.
Key Highlights
- Property includes 19700–19680 Woodward and is currently operated as a used car lot and repair facility
- Land value emphasized, with potential for development noted in the remarks
- Lot dimensions listed as 120141.93
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.6k | $7.32 |
| − Vacancy | −$1.9k | −$0.37 |
| EGI | $34.7k | $6.95 |
| − OpEx | −$10.4k | −$2.08 |
| NOI | $24.3k | $4.86 |
5,000 SF · lease $7.32/SF/yr · vacancy 5.08% · expense 30.00%
Alternative Uses
Best Use
Retail
$879.8K
$769.8K – $1.03M
NOI $61,585 @ 7.0% cap · market cap 10.26%
Second Best
Industrial
$347.4K
$304.0K – $405.3K
NOI $24,319 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.10M
$965.1K – $1.29M
NOI $77,211 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
Similar Off Market Nearby
- Elite Service Center & Collision — 19590 Woodward Ave, Detroit, MI 48203
- Seven-Woods Collision — 990 w seven mile rd, detroit, mi 48203
- B & S Collision Services — 245 W Seven Mile Rd, Highland Park, MI 48203
- Atlas Tire Express — 500 Eight Mile Rd, Ferndale, MI 48220
- Floras One Stop Auto — 700 W 7 Mile Rd, Detroit, MI 48203
FAQs
What type of property is this?
Auto shop - Property is currently operated as a used car lot and repair facility, with land value emphasized for development.
Where is this auto shop located?
The property is located at 19700 WOODWARD Avenue Unit SourceFi Detroit, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Property includes 19700–19680 Woodward and is currently operated as a used car lot and repair facility; Land value emphasized, with potential for development noted in the remarks; Lot dimensions listed as 120141.93
