Automotive Service
New
For Sale
$2,950,000
15201 Mercantile Drive, Dearborn, MI 48120
Light Industrial zoning supports an automotive-oriented property configuration.
Property Size27,711 SF
Price / SF$106.46
Days on Market2
Property Features for 15201 Mercantile Drive
General Information
Standard status
Active
Size
27,711 SF
Zoning
Light Industrial
Amenities
storage
Listing Agency:
Keller Williams Legacy
(313) 752-0000
Listed By:
Nick Jaafar · License #403947
(313) 706-7011
Source:
Charterpropertiesgr
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:05AM
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 Keller Williams Legacy
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Investment Insights
Based on property information with market context.
The 27,711-square-foot facility is located at 15201 Mercantile Drive in Dearborn, Michigan. Its Light Industrial zoning and automotive history identify it as an automotive service property.
Key Highlights
- 27,711 SF facility
- Zoned Light Industrial
- Automotive history
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,617
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,252,340
$3.3M
Cap Rate 7%
$2,323,100
$2.3M
Cap Rate 9%
$1,806,856
$1.8M
Market Conditions
NOI Build-Up for 27,711 SF
Gross rent
$242.7K $8.76/SF
− Vacancy
−$10.4K −$0.38/SF
EGI
$232.3K $8.38/SF
− OpEx
−$69.7K −$2.51/SF
NOI
$162.6K $5.87/SF
Area
Dearborn, MI
Vacancy
4.30%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,252,340
Cap Rate 7%
$2,323,100
Cap Rate 9%
$1,806,856
Alternative Uses
Best Use
Retail
$4.88M
$4.27M – $5.69M
NOI $341,314 @ 7.0% cap · market cap 11.57%
Second Best
Industrial
$2.32M
$2.03M – $2.71M
NOI $162,617 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$6.11M
$5.35M – $7.13M
NOI $427,921 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
128k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 54%
Shops & Services 29%
Dining 16%
Electronics 1%
Kroger
Groceries
69,327 visits/mo
0.5 miles
7-Eleven
Shops & Services
15,304 visits/mo
0.3 miles
The UPS Store
Shops & Services
14,386 visits/mo
0.3 miles
Tim Hortons
Dining
8,828 visits/mo
0.1 miles
Wendy's
Dining
8,807 visits/mo
0.1 miles
Demographics for 48120, MI
8,338
Population
2,910
Households
2.9
Avg Household Size
29
Median Age
37%
College-Educated
76%
High-School Grad
4.7 sq mi
ZIP Area
1,774
Density / Sq Mi
$66,667
Median Household Income
$48,170
Median Earnings
$1,407
Median Rent
$236,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Pitt Stop Auto — 3200 Greenfield Rd, Dearborn, MI 48120
- Used Engines and Transmissions — 3200 Greenfield Rd, Dearborn, MI 48120, United States
- Ground Effects Ltd — 13750 Rotunda Dr, Dearborn, MI 48120
- Jack Demmer Collision Center — 14641 Prospect St, Dearborn, MI 48126
- Elite tire — 15141 Michigan Ave, Dearborn, MI 48126
Frequently Asked Questions
What type of property is this?
Auto shop - Light Industrial zoning supports an automotive-oriented property configuration.
Where is this auto shop located?
The property is located at 15201 Mercantile Drive Dearborn, MI.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 27,711 SF facility; Zoned Light Industrial; Automotive history
