1404 Imlay City Road, Lapeer, MI 48446

Building Details

Building Size 7,900 SF More

Year Built 1960 More

Listing Agency: MBA Real Estate Services Show Phone

Listed By: Benjamin J Corcoran Show Phone

Source: Moayyerrealestate

Added: Oct 29 Changed: Nov 7 Last Checked: Nov 7 at 7:17PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The retail property combines a building and land with an operating outdoor power equipment sales and repair business. The business carries Bobcat, Encore Power Equipment, Shindaiwa, and AMSOIL dealer authorizations. Included items include parts inventory, shop equipment, diagnostic and hand tools, signage, displays, and racking. The shop equipment includes a tire machine, wheel balancer, hydraulic press, engine hoist, and welding and fabrication area.

The property is located at 1404 Imlay City Road in Lapeer, Michigan. The current owner is available to assist with an operational transition.

Key Highlights

• Dealer authorizations for Bobcat, Encore Power Equipment, Shindaiwa, and AMSOIL
• Parts department inventory and established vendor accounts
• Repair equipment includes a tire machine, wheel balancer, hydraulic press, and engine hoist

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,482

Cap Rate

3.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,089,640 $1.1M

Cap Rate 7%

$778,314 $778.3K

Cap Rate 9%

$605,356 $605.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,900 SF

Gross rent

$94.8K $12.00/SF

− Vacancy

−$17.0K −$2.15/SF

EGI

$77.8K $9.85/SF

− OpEx

−$23.3K −$2.96/SF

NOI

$54.5K $6.90/SF

Area

Lapeer County, MI

Vacancy

17.90%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,089,640

Cap Rate 7%

$778,314

Cap Rate 9%

$605,356

Alternative Uses

Best Use

Retail

$778.3K

$681.0K – $908.0K (±1% cap)

NOI $54,482 @ 7.0% cap · market cap 3.63%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,559 @ 7.0% cap · market cap 6.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Dental Office Real Estate Agency HVAC Service Parking Lot & Garage Electrical Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

97

Businesses Nearby

726

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Monro Auto Service and Tire Centers Shops & Services

726 visits/mo 0.4 miles

Demographics for 48446, MI

30,788

Population

12,797

Households

2.4

Avg Household Size

45

Median Age

20%

College-Educated

93%

High-School Grad

121.9 sq mi

ZIP Area

253

Density / Sq Mi

$66,382

Median Household Income

$40,263

Median Earnings

$976

Median Rent

$206,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The property includes an outdoor power equipment business, parts inventory, and repair-shop tools.

Where is this retail space located?

The property is located at 1404 Imlay City Road Lapeer, MI.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: Dealer authorizations for Bobcat, Encore Power Equipment, Shindaiwa, and AMSOIL; Parts department inventory and established vendor accounts; Repair equipment includes a tire machine, wheel balancer, hydraulic press, and engine hoist