Automotive Property with Fenced
New
For Sale
$125,000
13940 Gratiot Ave, Detroit, MI 48205
Flexible automotive facility with secured outdoor space, separate customer access, and rear service entry.
Property Size2,057 SF
Price / SF$60.77
Days on Market2
Property Features for 13940 Gratiot Ave
General Information
Standard status
Active
Size
2,057 SF
Property subtype
Retail
Zoning
B4
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Amenities
Secure wrought-iron fenced lot
Rear vehicle/service access
Separate customer entrance
Customer reception/entry area
Dedicated office
Half bathroom
Storage shed
Flexible white-box interior
Electricity
Heating system
Tankless hot water heater
Building Details
Building Size
2,057 SF
Year Built
1946
Buildings
1
Stories
1
Listing Agency:
Max Broock Realtors - West Bloomfield
Listed By:
Patrice Henderson · License #6501397234
(248) 780-2521
Source:
Cpix.resimplifi
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 1:59PM
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 Max Broock Realtors - West Bloomfield
Investment Insights
Based on property information with market context.
This 2,057-square-foot automotive property, built in 1946, combines an open interior with practical customer and service areas. The building includes a customer entry zone, private office, half bath, and rear access for vehicles or service activity. Electrical service, heating, and a tankless hot water heater are in place. A wrought-iron enclosure secures the outdoor lot, while a separate shed provides additional storage.
The property occupies a corner position on Gratiot Avenue in Detroit, with street exposure and proximity to an active car wash. Its B4 zoning and existing automotive layout support continued evaluation for automotive-related use, subject to verification of permitted uses and site information. The property is offered as-is.
The property occupies a corner position on Gratiot Avenue in Detroit, with street exposure and proximity to an active car wash. Its B4 zoning and existing automotive layout support continued evaluation for automotive-related use, subject to verification of permitted uses and site information. The property is offered as-is.
Key Highlights
- 2,057 SF automotive property built in 1946
- B4 zoning with automotive‑oriented layout
- Wrought‑iron fenced lot plus storage shed
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
$10,005
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
8.00%
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%
$200,100
$200.1K
Cap Rate 7%
$142,929
$142.9K
Cap Rate 9%
$111,167
$111.2K
Market Conditions
NOI Build-Up for 2,057 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
$15.1K $7.32/SF
− Vacancy
−$765 −$0.37/SF
EGI
$14.3K $6.95/SF
− OpEx
−$4.3K −$2.08/SF
NOI
$10.0K $4.86/SF
Area
Detroit, MI
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%
$200,100
Cap Rate 7%
$142,929
Cap Rate 9%
$111,167
Alternative Uses
Best Use
Retail
$361.9K
$316.7K – $422.3K
NOI $25,336 @ 7.0% cap · market cap 20.27%
Second Best
Industrial
$142.9K
$125.1K – $166.8K
NOI $10,005 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$453.8K
$397.1K – $529.4K
NOI $31,765 @ 7.0% cap · market cap 25.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
74k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 35%
Apparel 19%
McDonald's
Dining
17,931 visits/mo
0.4 miles
Family Dollar
Shops & Services
10,202 visits/mo
0.5 miles
BP
Shops & Services
8,076 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
7,629 visits/mo
0.3 miles
Dollar General
Shops & Services
4,700 visits/mo
0.5 miles
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
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Similar Off Market Nearby
- ATM — 13003 Gratiot Ave, Detroit, MI 48205
Frequently Asked Questions
What type of property is this?
Automotive property - Flexible automotive facility with secured outdoor space, separate customer access, and rear service entry.
Where is this automotive property located?
The property is located at 13940 Gratiot Ave Detroit, MI.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 2,057 SF automotive property built in 1946; B4 zoning with automotive‑oriented layout; Wrought‑iron fenced lot plus storage shed
