Auto Repair Facility with Secured
For Sale
$275,000
13200 Joy Road, Detroit, MI 48228
Auto repair facility with a secured, fenced-in lot currently occupied by month-to-month tenants.
Property Size1,119 SF
Price / SF$245.76
Days on Market211
Property Features for 13200 Joy Road
General Information
Standard status
Active
Size
1,119 SF
Property subtype
Commercial
Zoning
Commercial
Lease Term
Cash, Conventional
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$2,283
Building Details
Building Size
1,119 SF
Year Built
1952
Listing Agency:
RE/MAX Team 2000
(313) 561-0900
Listed By:
Yousef Beydoun · License #6501354088
(313) 561-0900
Source:
Sabudarealty
Added: Jan 13
Changed: Aug 8
Last Checked: Aug 12 at 1:39PM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This auto repair facility is currently occupied by tenants on a month-to-month basis. The property includes a secured, fenced-in lot designed for vehicle and operations storage.
Located at 13200 Joy Road in Detroit, the site is offered for sale and described as priced to sell.
The combination of an occupied repair facility and secured outdoor lot supports automotive use for day-to-day operations where space and controlled access are important.
Located at 13200 Joy Road in Detroit, the site is offered for sale and described as priced to sell.
The combination of an occupied repair facility and secured outdoor lot supports automotive use for day-to-day operations where space and controlled access are important.
Key Highlights
- Auto repair facility built in 1952
- Currently occupied by month‑to‑month tenants
- Secured, fenced‑in lot
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
$13,783
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
5.01%
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%
$275,660
$275.7K
Cap Rate 7%
$196,900
$196.9K
Cap Rate 9%
$153,144
$153.1K
Market Conditions
NOI Build-Up for 1,119 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
$20.8K $18.60/SF
− Vacancy
−$1.1K −$1.00/SF
EGI
$19.7K $17.60/SF
− OpEx
−$5.9K −$5.28/SF
NOI
$13.8K $12.32/SF
Area
ZIP 48228
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%
$275,660
Cap Rate 7%
$196,900
Cap Rate 9%
$153,144
Alternative Uses
Best Use
Retail
$196.9K
$172.3K – $229.7K
NOI $13,783 @ 7.0% cap · market cap 5.01%
Second Best
Industrial
$93.8K
$82.1K – $109.5K
NOI $6,567 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$229.8K
$201.1K – $268.2K
NOI $16,089 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
7,756 visits/mo
0.5 miles
Dollar General
Shops & Services
7,585 visits/mo
0.1 miles
Mobil
Shops & Services
4,667 visits/mo
0.5 miles
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Uncle Abe's Auto Repair — 14551 Tireman Ave, Dearborn, MI 48126
- Mroue Auto Clinic — 14551 Tireman Ave, Dearborn, MI 48126
- Sam's Auto Repair — 14440 Tireman Ave, Detroit, MI 48228
- Advance Auto Care Center — 13632 Tireman Ave, Detroit, MI 48228
- Tireman Oil Change — 14628 Tireman Ave, Detroit, MI 48228
Frequently Asked Questions
What type of property is this?
Auto shop - Auto repair facility with a secured, fenced-in lot currently occupied by month-to-month tenants.
Where is this auto shop located?
The property is located at 13200 Joy Road Detroit, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Auto repair facility built in 1952; Currently occupied by month‑to‑month tenants; Secured, fenced‑in lot
