Two-Bay Auto
For Sale
$350,000
1916 Cedar Street, Holt, MI 48842
C-2-zoned automotive building with offices, fenced lot areas, and public water and sewer service.
Property Size1,460 SF
Price / SF$239.73
Days on Market425
Property Features for 1916 Cedar Street
General Information
Standard status
Active
Size
1,460 SF
Total Parking Spaces
31
Zoning
C 2
Site & Location
Traffic Count
7,000 vehicles/day
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Service Bays
2
Taxes and HOA fees
Annual Taxes
$3,738
Amenities
office
13' ceilings
9,000 lbs lift
2 piece lavatory
Building Details
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Professionals -Okemos
(517) 881-1467
Listed By:
Rick VanHouten
(517) 881-1467
Source:
Exprealty
Added: Jul 2, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:30AM
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 Coldwell Banker Professionals -Okemos
Investment Insights
Based on property information with market context.
This one-story auto shop includes a front office, a smaller rear office, two service bays, and a two-piece lavatory. The bays have 10-foot overhead doors, while the building provides 13-foot ceilings and a 9,000 lbs lift. Public water and sewer utilities serve the property.
The site offers 137 feet of frontage on Cedar Street and reports average daily traffic of over 7,000 vehicles. North and east portions of the lot are fenced, and Delhi Township permits 31 cars on the property. The building is zoned C-2.
The site offers 137 feet of frontage on Cedar Street and reports average daily traffic of over 7,000 vehicles. North and east portions of the lot are fenced, and Delhi Township permits 31 cars on the property. The building is zoned C-2.
Key Highlights
- 137' of frontage on Cedar St.
- Average daily traffic count of over 7, 000 vehicles
- Two bays with 10' overhead doors and 13' ceilings
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
$10,069
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
2.88%
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%
$201,380
$201.4K
Cap Rate 7%
$143,843
$143.8K
Cap Rate 9%
$111,878
$111.9K
Market Conditions
NOI Build-Up for 1,460 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
$17.5K $12.00/SF
− Vacancy
−$3.1K −$2.15/SF
EGI
$14.4K $9.85/SF
− OpEx
−$4.3K −$2.96/SF
NOI
$10.1K $6.90/SF
Area
Ingham 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 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%
$201,380
Cap Rate 7%
$143,843
Cap Rate 9%
$111,878
Alternative Uses
Best Use
Retail
$143.8K
$125.9K – $167.8K
NOI $10,069 @ 7.0% cap · market cap 2.88%
Second Best
Industrial
$118.1K
$103.4K – $137.8K
NOI $8,269 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$234.6K
$205.3K – $273.7K
NOI $16,420 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
7,000 VPD
Traffic count
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
9k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Home Improvements & Furnishings 23%
Shops & Services 13%
BIGGBY COFFEE
Dining
4,484 visits/mo
0.2 miles
Byrum Ace Hardware
Home Improvements & Furnishings
2,221 visits/mo
0.1 miles
Domino's Pizza
Dining
1,502 visits/mo
0.4 miles
H&R Block
Shops & Services
1,274 visits/mo
0.2 miles
Demographics for 48842, MI
21,548
Population
9,573
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
17.2 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,830
Median Household Income
$50,275
Median Earnings
$1,245
Median Rent
$211,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A. School — 4587 Glenberry Dr, Holt, MI 48842
- Albert Alignment & Truck Services — 1722 Cedar St, Holt, MI 48842
- Heavy duty truck repair — 4025 Holt Rd, Holt, MI 48842
- Thundering Diesel Mobile Semi Truck and Auto repair — 1902 Aurelius Rd, Holt, MI 48842
- WINDSHIELD GUYZ — 1891 N Cedar St, Holt, MI 48842
Frequently Asked Questions
What type of property is this?
Auto shop - C-2-zoned automotive building with offices, fenced lot areas, and public water and sewer service.
Where is this auto shop located?
The property is located at 1916 Cedar Street Holt, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 137' of frontage on Cedar St.; Average daily traffic count of over 7, 000 vehicles; Two bays with 10' overhead doors and 13' ceilings
