Auto Repair Facility with Fenced
For Sale
$269,000
13239 Joy Road, Detroit, MI 48228
Auto repair facility for sale with a secured, fenced-in lot and tenants on month-to-month occupancy.
Property Size1,780 SF
Days on Market223
Property Features for 13239 Joy Road
General Information
Standard status
Active
Size
1,780 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$2,271
Building Details
Building Size
1,780 SF
Year Built
1949
Listing Agency:
RE/MAX Team 2000
(313) 561-0900
Listed By:
Yousef Beydoun · License #6501354088
(313) 561-0900
Source:
Phgrealty
Added: Jan 13
Changed: Aug 24
Last Checked: Aug 23 at 5:01AM
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 to support vehicle-focused operations.
The surrounding setting is car-dependent, with a walkScore of 11 and transitScore of 43, based on the provided information.
The asset is offered for sale and is described as priced to sell in the provided remarks.
The surrounding setting is car-dependent, with a walkScore of 11 and transitScore of 43, based on the provided information.
The asset is offered for sale and is described as priced to sell in the provided remarks.
Key Highlights
- Auto repair facility built in 1949
- Secured, fenced‑in lot
- Currently occupied by tenants on a month‑to‑month basis
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
$21,924
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
8.15%
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%
$438,480
$438.5K
Cap Rate 7%
$313,200
$313.2K
Cap Rate 9%
$243,600
$243.6K
Market Conditions
NOI Build-Up for 1,780 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
$33.1K $18.60/SF
− Vacancy
−$1.8K −$1.00/SF
EGI
$31.3K $17.60/SF
− OpEx
−$9.4K −$5.28/SF
NOI
$21.9K $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%
$438,480
Cap Rate 7%
$313,200
Cap Rate 9%
$243,600
Alternative Uses
Best Use
Retail
$313.2K
$274.1K – $365.4K
NOI $21,924 @ 7.0% cap · market cap 8.15%
Second Best
Industrial
$149.2K
$130.6K – $174.1K
NOI $10,446 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$365.6K
$319.9K – $426.5K
NOI $25,592 @ 7.0% cap · market cap 9.51%
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
381
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,585 visits/mo
0.2 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 for sale with a secured, fenced-in lot and tenants on month-to-month occupancy.
Where is this auto shop located?
The property is located at 13239 Joy Road Detroit, MI.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Auto repair facility built in 1949; Secured, fenced‑in lot; Currently occupied by tenants on a month‑to‑month basis
