Auto Shop with Vehicle
For Sale
$475,000
1370 E Michigan Ave, Ypsilanti, MI 48198
Five contiguous parcels include an automotive repair setup with service bays, office space, and restroom facilities.
Property Size1,290 SF
Price / SF$368.22
Days on Market91
Property Features for 1370 E Michigan Ave
General Information
Standard status
Active
Size
1,290 SF
Listing Agency:
Renovare Real Estate
Listed By:
Adam Hammons
(734) 968-9025
Source:
Katie-k
Added: Jul 18
Changed: Oct 9
Last Checked: Oct 7 at 5:02PM
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
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Investment Insights
Based on property information with market context.
This automotive property combines five contiguous parcels with an existing repair-shop setup. The improvements include a 3-car metal building, two vehicle lifts, a small office, and restroom facilities. The property is offered as-is, and the stated dimensions and square footage are estimated.
The combined parcels front E Michigan Avenue in Ypsilanti Township, with estimated road frontage of 160 feet. Included addresses are 1370, 1358, 1366, 1378, and 1364 E Michigan Ave. Current zoning, permitted uses, and building requirements should be verified with Ypsilanti Township Planning Department. Showings are by appointment.
The combined parcels front E Michigan Avenue in Ypsilanti Township, with estimated road frontage of 160 feet. Included addresses are 1370, 1358, 1366, 1378, and 1364 E Michigan Ave. Current zoning, permitted uses, and building requirements should be verified with Ypsilanti Township Planning Department. Showings are by appointment.
Key Highlights
- Five contiguous parcels included in the sale
- Estimated 160 feet of road frontage on E Michigan Ave
- 3‑car metal building configured for automotive repair
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,541
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
70k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Groceries 34%
Dining 26%
Electronics 1%
Kroger
Groceries
24,046 visits/mo
0.5 miles
Speedway
Shops & Services
16,921 visits/mo
0.1 miles
Burger King
Dining
9,423 visits/mo
0.4 miles
Taco Bell
Dining
8,915 visits/mo
0.4 miles
AutoZone
Shops & Services
3,009 visits/mo
0.3 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Integral Services 411 LLC — 835 Ecorse Rd, Ypsilanti, MI 48198
- Prime Auto Center — 409 Emerick St, Ypsilanti, MI 48198
- Immortan Automotive- Miata/ Racecar Specialty — 835 Ecorse Rd, Ypsilanti, MI 48198
- Curtiss and Sons Automotive Integral Services 411 LLC — 835 Ecorse Rd, Ypsilanti, MI 48198
- Hawker & Son Collision — 865 Ecorse Rd, Ypsilanti, MI 48198
Frequently Asked Questions
What type of property is this?
Auto shop - Five contiguous parcels include an automotive repair setup with service bays, office space, and restroom facilities.
Where is this auto shop located?
The property is located at 1370 E Michigan Ave 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: Five contiguous parcels included in the sale; Estimated 160 feet of road frontage on E Michigan Ave; 3‑car metal building configured for automotive repair
