Automotive Service Shop with
New
For Sale
$349,999
13145 Woodward Ave, Highland Park, MI 48203
Operating automotive service business with gated fencing, transferred equipment, tire inventory, and an established customer base.
Property Size5,974 SF
Price / SF$58.59
Days on Market3
Property Features for 13145 Woodward Ave
General Information
Standard status
Active
Size
5,974 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Service Bays
6
Amenities
3 bathrooms
Building Details
Year Built
1963
Listing Agency:
Keller Williams Legacy
Listed By:
Michael M Phillips · License #6502387592
(313) 403-0011
Source:
Katie-k
Added: Sep 21
Last Checked: Sep 22 at 10:14PM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This operating automotive service business includes a functional shop setup with 6 hoists, 3 bathrooms, and gated fencing. The sale includes approximately 205 tires, a Summit large mobile rolling mechanic's tool chest/tool cabinet, and four 55-gallon drums/barrels fitted with fluid dispensing pumps and hoses. The business has been operated by the current owner for 4 years and maintains a regular schedule from Monday–Friday, 9:00 AM–6:00 PM, and Saturday, 9:00 AM–5:00 PM.
The property is located at 13145 Woodward Avenue in Highland Park, along Woodward Avenue (M-1). Access is available to I-75, M-8/Davison Freeway, M-10/Lodge Freeway, and I-94, connecting the operation with Highland Park, Detroit, and surrounding communities. The business has also accumulated 700+ Google reviews and serves a repeat customer base.
The property is located at 13145 Woodward Avenue in Highland Park, along Woodward Avenue (M-1). Access is available to I-75, M-8/Davison Freeway, M-10/Lodge Freeway, and I-94, connecting the operation with Highland Park, Detroit, and surrounding communities. The business has also accumulated 700+ Google reviews and serves a repeat customer base.
Key Highlights
- 6 hoists and 3 bathrooms in the automotive service setup
- Approximately 205 tires included in inventory
- Gated fencing supports the operating shop
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
$30,928
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
8.84%
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%
$618,560
$618.6K
Cap Rate 7%
$441,829
$441.8K
Cap Rate 9%
$343,644
$343.6K
Market Conditions
NOI Build-Up for 5,974 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
$45.9K $7.68/SF
− Vacancy
−$1.7K −$0.28/SF
EGI
$44.2K $7.40/SF
− OpEx
−$13.3K −$2.22/SF
NOI
$30.9K $5.18/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /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%
$618,560
Cap Rate 7%
$441,829
Cap Rate 9%
$343,644
Alternative Uses
Best Use
Retail
$808.6K
$707.6K – $943.4K
NOI $56,605 @ 7.0% cap · market cap 16.17%
Second Best
Industrial
$441.8K
$386.6K – $515.5K
NOI $30,928 @ 7.0% cap · market cap 8.84%
Theoretical Best
Specialty Retail
$1.11M
$967.8K – $1.29M
NOI $77,423 @ 7.0% cap · market cap 22.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Service bays
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Yes
Paved road 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Auto shop - Operating automotive service business with gated fencing, transferred equipment, tire inventory, and an established customer base.
Where is this auto shop located?
The property is located at 13145 Woodward Ave Highland Park, MI.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: 6 hoists and 3 bathrooms in the automotive service setup; Approximately 205 tires included in inventory; Gated fencing supports the operating shop
