Auto Shop With Overhead
For Sale
$85,000
13840 Fenkell St, Detroit, MI 48227
Commercial building with three overhead doors at the Fenkell Street and Stansbury intersection.
Property Size1,493 SF
Price / SF$56.93
Days on Market676
Property Features for 13840 Fenkell St
General Information
Standard status
Active
Size
1,493 SF
Property subtype
Retail
Zoning
B2
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Overhead Doors
Building Details
Building Size
1,493 SF
Year Built
1929
Buildings
1
Stories
1
Listing Agency:
Thomas A. Duke Company
(248) 479-0128
Listed By:
Joseph Evangelista
(248) 479-0128
Source:
Cpix.resimplifi
Added: Oct 24, 2024
Changed: Aug 30
Last Checked: Aug 30 at 12:37PM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This 1,493-square-foot commercial building was constructed in 1929 and previously operated as an auto repair facility serving glass and tire needs. The property includes three 8-foot by 10-foot overhead doors and is zoned B2, supporting its established commercial profile.
Located at 13840 Fenkell St in Detroit, the building occupies the corner of Fenkell and Stansbury and sits less than one mile from M-10. The existing configuration and prior automotive use provide a clear foundation for continued auto-related occupancy, subject to applicable approvals.
Located at 13840 Fenkell St in Detroit, the building occupies the corner of Fenkell and Stansbury and sits less than one mile from M-10. The existing configuration and prior automotive use provide a clear foundation for continued auto-related occupancy, subject to applicable approvals.
Key Highlights
- 1,493 SF commercial building
- Previously operated as an auto repair facility for glass and tires
- Three 8' x 10' overhead doors
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
$7,262
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
8.54%
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%
$145,240
$145.2K
Cap Rate 7%
$103,743
$103.7K
Cap Rate 9%
$80,689
$80.7K
Market Conditions
NOI Build-Up for 1,493 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
$10.9K $7.32/SF
− Vacancy
−$555 −$0.37/SF
EGI
$10.4K $6.95/SF
− OpEx
−$3.1K −$2.08/SF
NOI
$7.3K $4.86/SF
Area
ZIP 48227
Vacancy
5.08%
Lease Rate
$7.32 /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%
$145,240
Cap Rate 7%
$103,743
Cap Rate 9%
$80,689
Alternative Uses
Best Use
Retail
$188.5K
$165.0K – $219.9K
NOI $13,196 @ 7.0% cap · market cap 15.52%
Second Best
Industrial
$103.7K
$90.8K – $121.0K
NOI $7,262 @ 7.0% cap · market cap 8.54%
Theoretical Best
Multifamily LT 5
$242.9K
$212.5K – $283.4K
NOI $17,003 @ 7.0% cap · market cap 20.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
22k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
8,305 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,109 visits/mo
0.2 miles
BP
Shops & Services
3,619 visits/mo
0.3 miles
Dollar General
Shops & Services
3,291 visits/mo
0.1 miles
Comerica Bank
Shops & Services
588 visits/mo
0.4 miles
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with three overhead doors at the Fenkell Street and Stansbury intersection.
Where is this auto shop located?
The property is located at 13840 Fenkell St Detroit, MI.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: 1,493 SF commercial building; Previously operated as an auto repair facility for glass and tires; Three 8' x 10' overhead doors
