Industrial Garage Auto
For Sale
$265,000
205 N Wood Street, Chesaning, MI 48616
Commercially zoned property with an established garage configuration and 1950 construction date.
Property Size4,500 SF
Price / SF$58.89
Days on Market284
Property Features for 205 N Wood Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Business Opportunity
Zoning
Commercial
Lease Term
Cash, Conventional, Other
Building Details
Building Size
4,500 SF
Year Built
1950
Listing Agency:
Century 21 Signature Realty
(989) 239-5581
Listed By:
Ken Kujawa · License #6502333762
(989) 239-5581
Source:
Sabudarealty
Added: Nov 4, 2025
Changed: Aug 15
Last Checked: Aug 15 at 5:04AM
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 Century 21 Signature Realty
Investment Insights
Based on property information with market context.
This automotive property at 205 N Wood Street in Chesaning Village, Michigan, contains a 4,500-square-foot industrial garage constructed in 1950. The building’s garage-oriented layout provides a defined base for automotive service or related commercial operations, subject to applicable requirements.
The property is zoned Commercial and is situated in Chesaning Village, with the address identified as 205 N Wood Street, Chesaning Village, MI 48616. The lot size may be modified to accommodate additional acquisition requirements, as applicable to the transaction.
The property is zoned Commercial and is situated in Chesaning Village, with the address identified as 205 N Wood Street, Chesaning Village, MI 48616. The lot size may be modified to accommodate additional acquisition requirements, as applicable to the transaction.
Key Highlights
- 4,500‑square‑foot industrial garage space
- Commercial zoning
- Constructed in 1950
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
$23,464
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
8.85%
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%
$469,280
$469.3K
Cap Rate 7%
$335,200
$335.2K
Cap Rate 9%
$260,711
$260.7K
Market Conditions
NOI Build-Up for 4,500 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
$35.1K $7.80/SF
− Vacancy
−$1.6K −$0.35/SF
EGI
$33.5K $7.45/SF
− OpEx
−$10.1K −$2.23/SF
NOI
$23.5K $5.21/SF
Area
Saginaw County, MI
Vacancy
4.50%
Lease Rate
$7.80 /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%
$469,280
Cap Rate 7%
$335,200
Cap Rate 9%
$260,711
Alternative Uses
Best Use
Retail
$478.8K
$419.0K – $558.6K
NOI $33,517 @ 7.0% cap · market cap 12.65%
Second Best
Industrial
$335.2K
$293.3K – $391.1K
NOI $23,464 @ 7.0% cap · market cap 8.85%
Theoretical Best
Specialty Retail
$831.4K
$727.5K – $970.0K
NOI $58,199 @ 7.0% cap · market cap 21.96%
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
31k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 28%
Home Improvements & Furnishings 14%
Dollar General
Shops & Services
7,200 visits/mo
0.3 miles
Sunoco
Shops & Services
6,642 visits/mo
0.4 miles
Ace Hardware
Home Improvements & Furnishings
4,426 visits/mo
0.4 miles
Little Caesars Pizza
Dining
3,033 visits/mo
0.3 miles
SUBWAY
Dining
2,269 visits/mo
0.3 miles
Demographics for 48616, MI
7,458
Population
3,226
Households
2.3
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
81.1 sq mi
ZIP Area
92
Density / Sq Mi
$67,801
Median Household Income
$39,141
Median Earnings
$744
Median Rent
$153,400
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
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- 4 Wheel Buy — 9996 Peet Rd, Chesaning, MI 48616
- FreakShow Construction — 524 s line st, chesaning, mi 48616
- Amman's Garage — 423 E Broad St, Chesaning, MI 48616
Frequently Asked Questions
What type of property is this?
Auto shop - Commercially zoned property with an established garage configuration and 1950 construction date.
Where is this auto shop located?
The property is located at 205 N Wood Street Chesaning, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 4,500‑square‑foot industrial garage space; Commercial zoning; Constructed in 1950
