Automotive Repair and Car
For Sale
$600,000
19700 WOODWARD AVE, Detroit, MI 48203
Property is currently operated as a used car lot and repair facility, with land value emphasized for development.
Property Size5,000 SF
Price / SF$120
Days on Market2873
Property Features for 19700 WOODWARD AVE
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Industrial
Amenities
3
Asphalt
120141.93
Building Details
Year Built
19
Listing Agency:
(586) 436-3295
Listed By:
First Team Real Estate
(586) 436-3295
Source:
Xome
Added: Oct 21, 2018
Changed: Aug 27
Last Checked: Aug 31 at 1:13PM
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 First Team Real Estate
Investment Insights
Based on property information with market context.
This property is currently used as a used car lot and repair facility. The sale includes 19700–19680 Woodward, and the offering is presented with value primarily in the land for development.
The site is described as being close to the State Fair development area. Prospective buyers should contact the listing broker for additional details regarding the property and development considerations.
The site is described as being close to the State Fair development area. Prospective buyers should contact the listing broker for additional details regarding the property and development considerations.
Key Highlights
- Property includes 19700–19680 Woodward and is currently operated as a used car lot and repair facility
- Land value emphasized, with potential for development noted in the remarks
- Lot dimensions listed as 120141.93
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
$24,319
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
4.05%
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%
$486,380
$486.4K
Cap Rate 7%
$347,414
$347.4K
Cap Rate 9%
$270,211
$270.2K
Market Conditions
NOI Build-Up for 5,000 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
$36.6K $7.32/SF
− Vacancy
−$1.9K −$0.37/SF
EGI
$34.7K $6.95/SF
− OpEx
−$10.4K −$2.08/SF
NOI
$24.3K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /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%
$486,380
Cap Rate 7%
$347,414
Cap Rate 9%
$270,211
Alternative Uses
Best Use
Retail
$879.8K
$769.8K – $1.03M
NOI $61,585 @ 7.0% cap · market cap 10.26%
Second Best
Industrial
$347.4K
$304.0K – $405.3K
NOI $24,319 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.10M
$965.1K – $1.29M
NOI $77,211 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
188k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 55%
Shops & Services 28%
Apparel 18%
Meijer
Groceries
102,458 visits/mo
0.5 miles
Five Below
Shops & Services
30,822 visits/mo
0.5 miles
Marshalls
Apparel
30,146 visits/mo
0.5 miles
BP
Shops & Services
8,974 visits/mo
0.5 miles
Sunoco
Shops & Services
6,909 visits/mo
0.1 miles
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
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
- Seven-Woods Collision — 990 w seven mile rd, detroit, mi 48203
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- B & S Collision Services — 245 W Seven Mile Rd, Highland Park, MI 48203
- Elite Service Center & Collision — 19590 Woodward Ave, Detroit, MI 48203
- Atlas Tire Express — 500 Eight Mile Rd, Ferndale, MI 48220
Frequently Asked Questions
What type of property is this?
Auto shop - Property is currently operated as a used car lot and repair facility, with land value emphasized for development.
Where is this auto shop located?
The property is located at 19700 WOODWARD AVE Detroit, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Property includes 19700–19680 Woodward and is currently operated as a used car lot and repair facility; Land value emphasized, with potential for development noted in the remarks; Lot dimensions listed as 120141.93
