Auto and Used Car
For Sale
$3,000,000
1790 E 8 mile Rd, Detroit, MI 48203
Block-spanning auto-related property with multiple streetfront parcels, 300 feet of 8 Mile Rd frontage, and included business operations.
Property Size8,000 SF
Lot Size0.75 Acres
Days on Market30
Property Features for 1790 E 8 mile Rd
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.75 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,376
Building Details
Building Size
8,000 SF
Year Built
1957
Listing Agency:
Century 21 Professionals Sterling Heights
(586) 383-0000
Listed By:
James Sagmani · License #6501290391
(586) 383-0000
Source:
Elliman
Added: Jul 24
Changed: Aug 14
Last Checked: Aug 21 at 9:48AM
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 Century 21 Professionals Sterling Heights
Investment Insights
Based on property information with market context.
For sale is an auto-related facility and business package spanning multiple addresses along E 8 Mile Rd, with the building described as sitting from one block to another. The property is listed on approximately 3/4 acres and features approximately 300 feet of frontage with stated 8 Mile Rd exposure.
The sale includes the business and building at 1790 E 8 Mile, 1776 E 8 Mile, and 1760 E 8 Mile, as well as 1796 E 8 Mile (addresses included in the remarks). The existing operations described in the listing include a used car dealer, tire shop, and mechanic.
The remarks also note that it is prohibited to approach the building at all times. The property is stated to be close to 1-75 and is surrounded by many businesses. Buyer should confirm all details and access requirements during due diligence.
The sale includes the business and building at 1790 E 8 Mile, 1776 E 8 Mile, and 1760 E 8 Mile, as well as 1796 E 8 Mile (addresses included in the remarks). The existing operations described in the listing include a used car dealer, tire shop, and mechanic.
The remarks also note that it is prohibited to approach the building at all times. The property is stated to be close to 1-75 and is surrounded by many businesses. Buyer should confirm all details and access requirements during due diligence.
Key Highlights
- Block‑spanning auto‑related property with multiple streetfront parcels along E 8 Mile
- Approx. 3/4‑acre site with 300 ft of frontage on 8 Mile Rd (E 8 Mile exposure)
- Includes business and building with used car dealer, tire shop, and mechanic operations
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
$98,535
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
3.28%
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%
$1,970,700
$2.0M
Cap Rate 7%
$1,407,643
$1.4M
Cap Rate 9%
$1,094,833
$1.1M
Market Conditions
NOI Build-Up for 8,000 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
$148.8K $18.60/SF
− Vacancy
−$8.0K −$1.00/SF
EGI
$140.8K $17.60/SF
− OpEx
−$42.2K −$5.28/SF
NOI
$98.5K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,970,700
Cap Rate 7%
$1,407,643
Cap Rate 9%
$1,094,833
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,535 @ 7.0% cap · market cap 3.28%
Second Best
Industrial
$555.9K
$486.4K – $648.5K
NOI $38,910 @ 7.0% cap · market cap 1.30%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,538 @ 7.0% cap · market cap 4.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Electronics 18%
Comerica Bank
Shops & Services
2,195 visits/mo
0.4 miles
Citgo
Shops & Services
2,052 visits/mo
0.4 miles
Marathon Petroleum
Shops & Services
1,382 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
1,238 visits/mo
0.4 miles
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
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?
Auto shop - Block-spanning auto-related property with multiple streetfront parcels, 300 feet of 8 Mile Rd frontage, and included business operations.
Where is this auto shop located?
The property is located at 1790 E 8 mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Block‑spanning auto‑related property with multiple streetfront parcels along E 8 Mile; Approx. 3/4‑acre site with 300 ft of frontage on 8 Mile Rd (E 8 Mile exposure); Includes business and building with used car dealer, tire shop, and mechanic operations
