Automotive Repair Property
For Sale
Contact for pricing
1370 E Michigan Avenue, Ypsilanti, MI 48198
Automotive shop improvements and a 3-car metal building on multiple contiguous parcels along a major thoroughfare.
Property Size1,290 SF
Price / SF$368.22
Days on Market282
Property Features for 1370 E Michigan Avenue
General Information
Standard status
Active
Size
1,290 SF
Property subtype
Business for Sale, Retail
Additional Details
Business Included
Yes
Service Bays
2
Building Details
Year Built
9999
Listing Agency:
Renovare Real Estate
(734) 968-9025
Listed By:
Adam Hammons
Source:
Crexi
Added: Nov 3, 2025
Changed: Aug 8
Last Checked: Aug 11 at 6:48PM
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 Renovare Real Estate
Investment Insights
Based on property information with market context.
This offering includes five contiguous commercial parcels along E Michigan Ave, comprising a single automotive-focused operating setup on the central parcel. The automotive repair space includes a 3-car metal building with two vehicle lifts, along with a small office and restroom facilities. The sale is being offered AS IS, and the provided square footage and other dimensions are estimated, with buyers encouraged to complete their own due diligence.
The combined parcels provide an estimated 160 feet of direct road frontage on E Michigan Ave in Ypsilanti Township, creating practical visibility from a major roadway. The property is located at 1370 E Michigan Avenue, with the included parcels listed as 1358, 1366, 1364, 1378, and 1370 E Michigan Ave. The seller notes that for confirmation of zoning and permitted uses, buyers should consult the Ypsilanti Township Planning Department.
For automotive operators, the existing repair configuration with two lifts and on-site office and restroom space supports immediate shop use within an automotive portfolio setting. For buyers considering redevelopment or repositioning across multiple parcels, the contiguous layout and substantial frontage provide a flexible platform to plan future uses, subject to township approvals and building requirements.
The combined parcels provide an estimated 160 feet of direct road frontage on E Michigan Ave in Ypsilanti Township, creating practical visibility from a major roadway. The property is located at 1370 E Michigan Avenue, with the included parcels listed as 1358, 1366, 1364, 1378, and 1370 E Michigan Ave. The seller notes that for confirmation of zoning and permitted uses, buyers should consult the Ypsilanti Township Planning Department.
For automotive operators, the existing repair configuration with two lifts and on-site office and restroom space supports immediate shop use within an automotive portfolio setting. For buyers considering redevelopment or repositioning across multiple parcels, the contiguous layout and substantial frontage provide a flexible platform to plan future uses, subject to township approvals and building requirements.
Key Highlights
- Automotive repair setup with 2 vehicle lifts and small office space plus restroom facilities
- 3‑car metal building on five contiguous parcels along E Michigan Ave in Ypsilanti Township
- Estimated 160 ft of direct road frontage on E Michigan Ave across the included parcels
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
$17,541
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
3.69%
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%
$350,820
$350.8K
Cap Rate 7%
$250,586
$250.6K
Cap Rate 9%
$194,900
$194.9K
Market Conditions
NOI Build-Up for 1,290 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
$27.1K $21.00/SF
− Vacancy
−$2.0K −$1.58/SF
EGI
$25.1K $19.43/SF
− OpEx
−$7.5K −$5.83/SF
NOI
$17.5K $13.60/SF
Area
Washtenaw County, MI
Vacancy
7.50%
Lease Rate
$21.00 /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%
$350,820
Cap Rate 7%
$250,586
Cap Rate 9%
$194,900
Alternative Uses
Best Use
Retail
$250.6K
$219.3K – $292.4K
NOI $17,541 @ 7.0% cap · market cap 3.69%
Second Best
Industrial
$171.1K
$149.7K – $199.6K
NOI $11,974 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$379.0K
$331.7K – $442.2K
NOI $26,533 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
57k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 38%
Electronics 2%
McDonald's
Dining
16,485 visits/mo
0.2 miles
Dollar Tree
Shops & Services
14,529 visits/mo
0.1 miles
Mobil
Shops & Services
6,610 visits/mo
0.1 miles
Dollar General
Shops & Services
5,566 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,787 visits/mo
0.2 miles
Demographics for 48198, MI
40,067
Population
17,379
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
92%
High-School Grad
33.4 sq mi
ZIP Area
1,200
Density / Sq Mi
$63,678
Median Household Income
$36,671
Median Earnings
$1,197
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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- Integral Services 411 LLC — 835 Ecorse Rd, Ypsilanti, MI 48198
- Prime Auto Center — 409 Emerick St, Ypsilanti, MI 48198
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- Immortan Automotive- Miata/ Racecar Specialty — 835 Ecorse Rd, Ypsilanti, MI 48198
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive shop improvements and a 3-car metal building on multiple contiguous parcels along a major thoroughfare.
Where is this auto shop located?
The property is located at 1370 E Michigan Avenue Ypsilanti, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Automotive repair setup with 2 vehicle lifts and small office space plus restroom facilities; 3‑car metal building on five contiguous parcels along E Michigan Ave in Ypsilanti Township; Estimated 160 ft of direct road frontage on E Michigan Ave across the included parcels
