High-Visibility Auto Dealership on
For Sale
Contact for pricing
16912 - 16926 Joy Road, Detroit, MI 48228
Licensed auto dealership with high traffic and repair facility.
Property Size1,200 SF
Price / SF$145.83
Days on Market668
Property Features for 16912 - 16926 Joy Road
General Information
Standard status
Active
Size
1,200 SF
Class
A
Property subtype
Business for Sale, Retail
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1952
Buildings
2
Stories
1
Units
1
Listing Agency:
Exp Realty, LLC
(313) 600-6189
Listed By:
Fadi Dabaja · License #6506045188
Source:
Crexi
Added: Oct 23, 2024
Changed: Aug 12
Last Checked: Aug 20 at 12:43AM
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 Exp Realty, LLC
Investment Insights
Based on property information with market context.
This is a licensed auto dealership situated on Joy Road in Detroit. The property features a corner lot with space for over 25 vehicles, a sales office, and a small repair facility. The sale includes 16 license plates, current customers, and an auto financing agreement. The property is located on a high-traffic road.
Key Highlights
- High‑visibility location on bustling Joy Road in Detroit with amazing traffic.
- Licensed auto dealership with a huge corner lot and space for over 25 vehicles.
- Includes 16 license plates, current customers, and auto financing agreement.
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
$14,780
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
8.45%
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%
$295,600
$295.6K
Cap Rate 7%
$211,143
$211.1K
Cap Rate 9%
$164,222
$164.2K
Market Conditions
NOI Build-Up for 1,200 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
$22.3K $18.60/SF
− Vacancy
−$1.2K −$1.00/SF
EGI
$21.1K $17.60/SF
− OpEx
−$6.3K −$5.28/SF
NOI
$14.8K $12.32/SF
Area
ZIP 48228
Vacancy
5.40%
Lease Rate
$18.60 /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%
$295,600
Cap Rate 7%
$211,143
Cap Rate 9%
$164,222
Alternative Uses
Best Use
Retail
$211.1K
$184.8K – $246.3K
NOI $14,780 @ 7.0% cap · market cap 8.45%
Second Best
Industrial
$100.6K
$88.0K – $117.4K
NOI $7,042 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$246.5K
$215.7K – $287.6K
NOI $17,253 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
25k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
BP
Shops & Services
11,589 visits/mo
0.2 miles
KFC
Dining
6,653 visits/mo
0.3 miles
Dollar General
Shops & Services
6,496 visits/mo
0.3 miles
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Acme Lawnmower Service — 7740 Southfield Fwy, Detroit, MI 48228
- LJ Auto Collision — 19101 Joy Rd, Detroit, MI 48228
- TMF TOWING — 15800 Tireman Ave, Detroit, MI 48228
- David & sons we fix your car not your walet!!! — 8449 Penrod St, Detroit, MI 48228
- Future's Choice — 7667 Faust Ave, Detroit, MI 48228
Frequently Asked Questions
What type of property is this?
Auto shop - Licensed auto dealership with high traffic and repair facility.
Where is this auto shop located?
The property is located at 16912 - 16926 Joy Road Detroit, MI.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: High‑visibility location on bustling Joy Road in Detroit with amazing traffic.; Licensed auto dealership with a huge corner lot and space for over 25 vehicles.; Includes 16 license plates, current customers, and auto financing agreement.
