Turnkey Industrial Collision
For Sale
Contact for pricing
207 N Main St, Olivet, MI 49076
Modern 5,624 SF industrial building with office kitchenette and dedicated shop restrooms, built in 2005.
Property Size5,624 SF
Lot Size0.36 Acres
Price / SF$97.80
Days on Market158
Property Features for 207 N Main St
General Information
Standard status
Active
Size
5,624 SF
Lot size
0.36 Acres
Property subtype
RETAIL
Additional Details
Business Included
Yes
Highway Access
Yes
Amenities
kitchenette
private restroom
employee restroom
Building Details
Year Built
2005
Listing Agency:
RE/MAX COMMERCIAL GROUP
(517) 980-9299
Listed By:
Matthew Wisniewski, CCIM · License #6501360426
(517) 980-9299
Source:
Moodyscre
Added: Mar 17
Changed: Aug 14
Last Checked: Aug 14 at 8:05AM
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 RE/MAX COMMERCIAL GROUP
Investment Insights
Based on property information with market context.
Turnkey industrial building built in 2005 offering 5,624 square feet of combined office and shop space. The office area includes a kitchenette and private restroom, while the shop includes a dedicated employee restroom. The property is currently used as a collision repair facility and is available either with the established business and all equipment or as the building alone.
Located in downtown Olivet on a 0.363-acre parcel at 207 N Main St, the property benefits from a central small-town setting. The University of Olivet is located in the community, adding steady day-to-day activity from students, families, and professionals.
Configured for collision repair operations, the facility can also support adaptable warehouse, manufacturing, or service uses based on the existing layout of office and shop areas.
Located in downtown Olivet on a 0.363-acre parcel at 207 N Main St, the property benefits from a central small-town setting. The University of Olivet is located in the community, adding steady day-to-day activity from students, families, and professionals.
Configured for collision repair operations, the facility can also support adaptable warehouse, manufacturing, or service uses based on the existing layout of office and shop areas.
Key Highlights
- 5,624 SF modern industrial building built in 2005 at 207 N Main Street, Olivet, MI 49076
- On a 0.363‑acre parcel in downtown Olivet
- Currently leased to Precision Collision and includes established business and all equipment or available as building only
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
$50,033
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
9.10%
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%
$1,000,660
$1.0M
Cap Rate 7%
$714,757
$714.8K
Cap Rate 9%
$555,922
$555.9K
Market Conditions
NOI Build-Up for 5,624 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
$87.1K $15.48/SF
− Vacancy
−$15.6K −$2.77/SF
EGI
$71.5K $12.71/SF
− OpEx
−$21.4K −$3.81/SF
NOI
$50.0K $8.90/SF
Area
Eaton County, MI
Vacancy
17.90%
Lease Rate
$15.48 /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%
$1,000,660
Cap Rate 7%
$714,757
Cap Rate 9%
$555,922
Alternative Uses
Best Use
Retail
$714.8K
$625.4K – $833.9K
NOI $50,033 @ 7.0% cap · market cap 9.10%
Second Best
Warehouse
$479.9K
$419.9K – $559.8K
NOI $33,590 @ 7.0% cap · market cap 6.11%
Theoretical Best
Multifamily LT 5
$64.75M
$56.65M – $75.54M
NOI $4,532,323 @ 7.0% cap · market cap 824.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49076, MI
4,445
Population
1,544
Households
2.9
Avg Household Size
34
Median Age
23%
College-Educated
92%
High-School Grad
57.1 sq mi
ZIP Area
78
Density / Sq Mi
$67,614
Median Household Income
$27,017
Median Earnings
$904
Median Rent
$185,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Precision Collision — 207 N Main St, Olivet, MI 49076
- Olivet Hardware — 116 N Main St #9403, Olivet, MI 49076
- Eagle Automotive Services, Inc — 216 N Main St, Olivet, MI 49076
- Indian Creek Ag — 7904 McDonald Rd, Olivet, MI 49076
Frequently Asked Questions
What type of property is this?
Auto shop - Modern 5,624 SF industrial building with office kitchenette and dedicated shop restrooms, built in 2005.
Where is this auto shop located?
The property is located at 207 N Main St Olivet, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 5,624 SF modern industrial building built in 2005 at 207 N Main Street, Olivet, MI 49076; On a 0.363‑acre parcel in downtown Olivet; Currently leased to Precision Collision and includes established business and all equipment or available as building only
