Established Automotive Repair
New
For Sale
$799,900
20488 John R Street, Highland Park, MI 48203
Business and real estate are offered together with broad automotive repair capabilities.
Property Size3,450 SF
Days on Market2
Property Features for 20488 John R Street
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$6,078
Building Details
Building Size
3,450 SF
Year Built
2005
Listing Agency:
XPI Realty
(313) 515-7653
Listed By:
Ben Bawazir · License #6501359047
Source:
Irishhillsfivestarhomes
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 18 at 5:26AM
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 XPI Realty
Investment Insights
Based on property information with market context.
This automotive repair property combines an operating business with the underlying real estate. The shop was built in 2005 and supports a broad service menu, including brake work, tire service, suspension repairs, electrical systems, engines, air conditioning, exhaust, wheel alignments, and routine maintenance. Advanced diagnostic capabilities are also part of the operation.
The independent business has been family-owned and operating for over 21 years in Highland Park, Michigan. Its service model is designed around same-day automotive repairs and maintenance across multiple vehicle systems. Inquiries and property visits are handled by appointment, with employees not to be approached directly.
The independent business has been family-owned and operating for over 21 years in Highland Park, Michigan. Its service model is designed around same-day automotive repairs and maintenance across multiple vehicle systems. Inquiries and property visits are handled by appointment, with employees not to be approached directly.
Key Highlights
- Automotive repair business and real estate included in the sale
- Family‑owned independent operation with over 21 years of history
- Building constructed in 2005
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
$32,689
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
4.09%
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%
$653,780
$653.8K
Cap Rate 7%
$466,986
$467.0K
Cap Rate 9%
$363,211
$363.2K
Market Conditions
NOI Build-Up for 3,450 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
$49.7K $14.40/SF
− Vacancy
−$3.0K −$0.86/SF
EGI
$46.7K $13.54/SF
− OpEx
−$14.0K −$4.06/SF
NOI
$32.7K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$653,780
Cap Rate 7%
$466,986
Cap Rate 9%
$363,211
Alternative Uses
Best Use
Retail
$467.0K
$408.6K – $544.8K
NOI $32,689 @ 7.0% cap · market cap 4.09%
Second Best
Industrial
$255.2K
$223.3K – $297.7K
NOI $17,861 @ 7.0% cap · market cap 2.23%
Theoretical Best
Specialty Retail
$638.7K
$558.9K – $745.2K
NOI $44,712 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
66k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 28%
Apparel 20%
Electronics 1%
Wendy's
Dining
16,069 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
9,698 visits/mo
0.3 miles
Little Caesars Pizza
Dining
7,765 visits/mo
0.1 miles
BP
Shops & Services
6,709 visits/mo
0.1 miles
Dollar General
Shops & Services
5,945 visits/mo
0.4 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 Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- P & J Towing and Recovery — 20000 John R St, Detroit, MI 48203
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- Tee's Garage — 20000 John R St, Detroit, MI 48203
- First Choice Auto — 631 E State Fair Ave, Highland Park, MI 48203
- Quality Glass & Mirror — 19969 John R St, Detroit, MI 48203
Frequently Asked Questions
What type of property is this?
Auto shop - Business and real estate are offered together with broad automotive repair capabilities.
Where is this auto shop located?
The property is located at 20488 John R Street Highland Park, MI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Automotive repair business and real estate included in the sale; Family‑owned independent operation with over 21 years of history; Building constructed in 2005
