Automotive Service Property with Multiple
New
For Sale
$2,990,000
12680-12700 Greenfield Rd, Detroit, MI 48227
Established automotive facility with repair infrastructure, industrial and commercial zoning, and included operating licenses.
Property Size11,431 SF
Lot Size2.69 Acres
Price / SF$261.57
Days on Market3
Property Features for 12680-12700 Greenfield Rd
General Information
Standard status
Active
Size
11,431 SF
Lot size
2.69 Acres
Property subtype
Commercial
Zoning
301-Industrial, 201-Commercial
Site & Location
Traffic Count
140,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$23,616
Building Details
Building Size
11,431 SF
Year Built
1925
Listed By:
Mike Fayz · License #6501237882
(313) 561-3860
Source:
Elliman
Added: Sep 18
Last Checked: Sep 19 at 9:42AM
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 Mike Fayz
Investment Insights
Based on property information with market context.
This automotive service property was built in 1925 and includes over 11,431 square feet of building facilities on an almost 3-acre site. The improvements feature multiple service bays and hoists, with the sale including an auto parts scrap license, vehicle dealer license, and auto repair license.
The property occupies 12680-12700 Greenfield Rd at the I-96 and Greenfield Road intersection in Detroit. The site carries dual zoning designations—301-Industrial and 201-Commercial—and the surrounding roadway network reports more than 140,000 vehicles passing daily. The parcel contains a 117,000-plus square foot lot, providing substantial outdoor area alongside the enclosed automotive facilities.
The property occupies 12680-12700 Greenfield Rd at the I-96 and Greenfield Road intersection in Detroit. The site carries dual zoning designations—301-Industrial and 201-Commercial—and the surrounding roadway network reports more than 140,000 vehicles passing daily. The parcel contains a 117,000-plus square foot lot, providing substantial outdoor area alongside the enclosed automotive facilities.
Key Highlights
- Over 11,431 square feet of building facilities
- Almost 3 acres with a 117,000‑plus square foot lot
- Multiple automotive service bays and hoists
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
$101,037
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
3.38%
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%
$2,020,740
$2.0M
Cap Rate 7%
$1,443,386
$1.4M
Cap Rate 9%
$1,122,633
$1.1M
Market Conditions
NOI Build-Up for 11,431 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
$157.7K $13.80/SF
− Vacancy
−$13.4K −$1.17/SF
EGI
$144.3K $12.63/SF
− OpEx
−$43.3K −$3.79/SF
NOI
$101.0K $8.84/SF
Area
ZIP 48227
Vacancy
8.50%
Lease Rate
$13.80 /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%
$2,020,740
Cap Rate 7%
$1,443,386
Cap Rate 9%
$1,122,633
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $101,037 @ 7.0% cap · market cap 3.38%
Second Best
Industrial
$794.2K
$695.0K – $926.6K
NOI $55,597 @ 7.0% cap · market cap 1.86%
Theoretical Best
Multifamily LT 5
$1.86M
$1.63M – $2.17M
NOI $130,180 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
140,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sunshine Auto Collision — 16800 Plymouth Rd, Detroit, MI 48227
- Hne Auto Collision, Inc. — 11565 Abington Ave, Detroit, MI 48227
- Dunnys Collision & Auto Repair — 16510 Plymouth Rd, Detroit, MI 48227
- The Chrome Room — 16535 plymouth rd, detroit, mi 48227
- RIMS TIRES & HUBCAPS — 16535 Plymouth Rd, Detroit, MI 48227
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive facility with repair infrastructure, industrial and commercial zoning, and included operating licenses.
Where is this auto shop located?
The property is located at 12680-12700 Greenfield Rd Detroit, MI.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: Over 11,431 square feet of building facilities; Almost 3 acres with a 117,000‑plus square foot lot; Multiple automotive service bays and hoists
