Automotive Redevelopment
1251 N Main St Ann Arbor, MI 48103
1251 N Main St, Ann Arbor, MI, 48103
$1,600,000
For Sale
$1,600,000
Redevelopment-ready parcel with current auto body/collision shop use and by-right self-storage development permitted.
Property Size4,000 SF
Lot Size1.10 Acres
Price / SF$400
Days on Market693
Property Features for 1251 N Main St
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 1.10 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1956
Listing agency
Signature Associates - Southfield
(248) 799-3161
Listed by
Drake Filippis · License #6505240607
(248) 799-3161
Source
Cpix.resimplifi
Added: Aug 29, 2024 Updated: Jul 22 at 1:09AM Checked: Jul 22 at 2:17AM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This property is a redevelopment-ready site that can support its current use as an auto body or collision shop. The seller indicates the parcel is suitable for redevelopment and also available for self-storage development by right.
The offering is presented as a flexible option for parties looking to either continue the existing automotive operation or pursue conversion to self storage through by-right entitlement.
For buyers evaluating the site’s redevelopment path, the listing highlights by-right self-storage development as the primary alternative use, with the existing automotive use remaining in place for the current configuration.
The offering is presented as a flexible option for parties looking to either continue the existing automotive operation or pursue conversion to self storage through by-right entitlement.
For buyers evaluating the site’s redevelopment path, the listing highlights by-right self-storage development as the primary alternative use, with the existing automotive use remaining in place for the current configuration.
Key Highlights
- 1.1‑acre parcel with current auto body/collision shop use
- By‑right self‑storage development permitted
- Property includes a building built in 1956
Local Financial Insights For Retail
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 | $72.0k | $18.00 |
| − Vacancy | −$4.3k | −$1.08 |
| EGI | $67.7k | $16.92 |
| − OpEx | −$20.3k | −$5.08 |
| NOI | $47.4k | $11.84 |
4,000 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$676.8K
$592.2K – $789.6K
NOI $47,376 @ 7.0% cap · market cap 2.96%
Second Best
Self Storage
$488.4K
$427.4K – $569.8K
NOI $34,188 @ 7.0% cap · market cap 2.14%
Theoretical Best
Office A
$883.4K
$773.0K – $1.03M
NOI $61,839 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hawkins Auto Body
Auto Repair Shop
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FAQs
What type of property is this?
Auto shop - Redevelopment-ready parcel with current auto body/collision shop use and by-right self-storage development permitted.
Where is this auto shop located?
The property is located at 1251 N Main St Ann Arbor, MI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 1.1‑acre parcel with current auto body/collision shop use; By‑right self‑storage development permitted; Property includes a building built in 1956
