Auto Shop with
For Sale
$99,000
16120 S Us Highway 27, Lansing, MI 48906
Garage property includes a dedicated bathroom and additional office area.
Property Size800 SF
Price / SF$123.75
Days on Market110
Property Features for 16120 S Us Highway 27
General Information
Standard status
Active
Size
800 SF
Taxes and HOA fees
Annual Taxes
$719
Amenities
office space
bath
Listing Agency:
Home Towne Real Estate
(517) 803-7573
Listed By:
Rose Gedeon · License #6501401379
(517) 803-7573
Source:
Exprealty
Added: May 13
Changed: Aug 28
Last Checked: Aug 29 at 1:12PM
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 Home Towne Real Estate
Investment Insights
Based on property information with market context.
This auto shop property consists of a garage with separate office space and a bathroom. The site is located at 16120 S Us Highway 27 in Lansing, Michigan, providing a defined commercial setting for automotive operations or another use compatible with the existing improvements.
Key Highlights
- Garage structure with office space
- On‑site bathroom included
- Located at 16120 S Us Highway 27 in Lansing, MI
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
$7,241
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
7.31%
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%
$144,820
$144.8K
Cap Rate 7%
$103,443
$103.4K
Cap Rate 9%
$80,456
$80.5K
Market Conditions
NOI Build-Up for 800 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
$12.0K $15.00/SF
− Vacancy
−$1.7K −$2.07/SF
EGI
$10.3K $12.93/SF
− OpEx
−$3.1K −$3.88/SF
NOI
$7.2K $9.05/SF
Area
Lansing, MI
Vacancy
13.80%
Lease Rate
$15.00 /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%
$144,820
Cap Rate 7%
$103,443
Cap Rate 9%
$80,456
Alternative Uses
Best Use
Retail
$103.4K
$90.5K – $120.7K
NOI $7,241 @ 7.0% cap · market cap 7.31%
Second Best
Flex RnD
$88.3K
$77.2K – $103.0K
NOI $6,178 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$164.7K
$144.1K – $192.1K
NOI $11,527 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48906, MI
25,674
Population
12,180
Households
2.1
Avg Household Size
37
Median Age
29%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
790
Density / Sq Mi
$61,533
Median Household Income
$38,551
Median Earnings
$1,033
Median Rent
$128,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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- Redline Auto Service — 16040 S Old U.S. 27, Lansing, MI 48906
- American Towing, Inc. — 15890 Old U.S. 27, Lansing, MI 48906
Frequently Asked Questions
What type of property is this?
Auto shop - Garage property includes a dedicated bathroom and additional office area.
Where is this auto shop located?
The property is located at 16120 S Us Highway 27 Lansing, MI.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: Garage structure with office space; On‑site bathroom included; Located at 16120 S Us Highway 27 in Lansing, MI
