Building Details

Year Built 1965

Listing Agency: Advantage Commercial Real Estate Show Phone

Listed By: Thomas Vredevelt · License #MI 6501457145

Source: Crexi

Added: Jun 8 Changed: Aug 8 Last Checked: Aug 8 at 7:38AM

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Investment Insights

Based on property information with market context.

1831 142nd Avenue is an 8,100 SF vehicle repair building currently occupied by Dorr Standard Service. The facility is configured with multiple service and storage bays, supported by interior heights ranging from 16 to 24 feet for a range of vehicle service activities. In addition to the service areas, the site includes fenced outdoor storage and ample onsite parking to support vehicle and equipment staging.

The property sits on a corner lot with multiple points of ingress and egress, providing practical access for vehicles entering and leaving the service bays. A gas station with an accompanying convenience store is included with the site, giving the property a blended automotive and retail convenience use profile.

As a for-sale offering combining business and real estate, the asset is best suited for buyers looking for an automotive-focused operation with existing service-bay infrastructure and outdoor storage. Tenants and operators can consider the multi-bay layout and vehicle-ready access as a foundation for vehicle repair and related service uses, while the included gas station and convenience store supports a complementary daily retail component.

Key Highlights

• 8,100 SF vehicle repair building built in 1965 in downtown Dorr, MI
• Configured with multiple service and storage bays; interior heights range from 16 to 24 ft
• Corner lot with multiple points of ingress and egress for vehicles and equipment

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

$90,091

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

4.29%

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%

$1,801,820 $1.8M

Cap Rate 7%

$1,287,014 $1.3M

Cap Rate 9%

$1,001,011 $1.0M

Market Conditions

NOI Build-Up for 8,100 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

$125.4K $15.48/SF

− Vacancy

−$5.3K −$0.65/SF

EGI

$120.1K $14.83/SF

− OpEx

−$30.0K −$3.71/SF

NOI

$90.1K $11.12/SF

Area

Allegan County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

25.00%

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%

$1,801,820

Cap Rate 7%

$1,287,014

Cap Rate 9%

$1,001,011

Alternative Uses

Best Use

Specialty Retail

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,091 @ 7.0% cap · market cap 4.29%

Second Best

Retail

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $84,085 @ 7.0% cap · market cap 4.00%

Theoretical Best

Hotel Hospitality

$76.07M

$66.56M – $88.75M (±1% cap)

NOI $5,324,716 @ 7.0% cap · market cap 253.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Dorr Standard Service Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Building Supply Law Firm Pharmacy

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

Location Intelligence

Trade Area within ½ mile

121

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 49323, MI

10,235

Population

3,920

Households

2.6

Avg Household Size

37

Median Age

24%

College-Educated

93%

High-School Grad

50.1 sq mi

ZIP Area

204

Density / Sq Mi

$97,230

Median Household Income

$50,345

Median Earnings

$1,339

Median Rent

$271,900

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

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Dorr Village Auto Body — 4209 Park St, Dorr, MI 49323
• Repair Rite Machine Inc — 1946 142nd Ave, Dorr, MI 49323
• Dorr Standard Service — 1831 142nd Ave, Dorr, MI 49323
• Adelman Mobile Windshield Repair & Replacement Team — 1784 142nd ave, dorr, mi 49323
• Fifelski Towing & Recovery — 4204 18th St, Dorr, MI 49323

Frequently Asked Questions

What type of property is this?

Auto shop - Automotive service building with service bays, fenced storage, and a gas station with convenience store on a corner lot.

Where is this auto shop located?

The property is located at 1831 142nd Avenue Dorr, MI.

What is the asking price?

The asking price for this property is $2,100,000.

What are key features of this property?

This property features: 8,100 SF vehicle repair building built in 1965 in downtown Dorr, MI; Configured with multiple service and storage bays; interior heights range from 16 to 24 ft; Corner lot with multiple points of ingress and egress for vehicles and equipment