Automotive Service and Body
21670 Gratiot Rd, Merrill, MI 48637
For Sale
New
$799,000
The sale includes automotive equipment, inventory, and historical business goodwill alongside the industrial-zoned property.
Property Size8,880 SF
Lot Size3.53 Acres
Price / SF$89.98
Days on Market2
Property Features for 21670 Gratiot Rd
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Site & Location
Road Access
Utilities to Site
Automotive
Service Bays
Automotive Uses
Additional Details
Real Estate Included
Amenities
front office
secure storage
professional-grade paint booth
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Century 21 Signature
Listed By:
Tom Webb · License #6502374762
(734) 260-5811
Source:
Cpix.resimplifi
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 6 at 2:36PM
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
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Investment Insights
Based on property information with market context.
This 8,880-square-foot automotive service and body shop was built in 1989 and has nine overhead doors and service bays. The layout includes a front office and secure storage. Equipment conveyed with the property includes a paint booth, shop air compressors, automotive tools, and inventory, along with historical business goodwill. The business is not currently operating.
The property is zoned Industrial, sits beside a railroad track, and uses a private well and septic system.
The property is zoned Industrial, sits beside a railroad track, and uses a private well and septic system.
Key Highlights
- 8,880‑square‑foot automotive service and body shop, built in 1989
- Nine overhead doors and service bays
- Sale includes automotive equipment, inventory, and historical business goodwill
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,139
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,322,780
$1.3M
Cap Rate 7%
$944,843
$944.8K
Cap Rate 9%
$734,878
$734.9K
Market Conditions
NOI Build-Up for 8,880 SF
Gross rent
$115.1K $12.96/SF
− Vacancy
−$20.6K −$2.32/SF
EGI
$94.5K $10.64/SF
− OpEx
−$28.3K −$3.19/SF
NOI
$66.1K $7.45/SF
Area
Saginaw County, MI
Vacancy
17.90%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,322,780
Cap Rate 7%
$944,843
Cap Rate 9%
$734,878
Alternative Uses
Best Use
Retail
$944.8K
$826.7K – $1.10M
NOI $66,139 @ 7.0% cap · market cap 8.28%
Second Best
Industrial
$661.5K
$578.8K – $771.7K
NOI $46,303 @ 7.0% cap · market cap 5.80%
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.91M
NOI $114,845 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
9
Service bays
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48637, MI
3,120
Population
1,319
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
95%
High-School Grad
70.9 sq mi
ZIP Area
44
Density / Sq Mi
$63,900
Median Household Income
$41,509
Median Earnings
$736
Median Rent
$140,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Campers Choice RV Collision — 21925 Gratiot Rd, Merrill, MI 48637
- Andrew’s auto body — 21700 Gratiot Rd, Merrill, MI 48637
Frequently Asked Questions
What type of property is this?
Auto shop - The sale includes automotive equipment, inventory, and historical business goodwill alongside the industrial-zoned property.
Where is this auto shop located?
The property is located at 21670 Gratiot Rd Merrill, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 8,880‑square‑foot automotive service and body shop, built in 1989; Nine overhead doors and service bays; Sale includes automotive equipment, inventory, and historical business goodwill
