Automotive Service
21670 Gratiot Road, Merrill, MI 48637
For Sale
New
$799,000
COM/IND/BUS OPP, Merrill, MI
Property Size8,880 SF
Lot Size3.53 Acres
Price / SF$89.98
Days on Market2
Property Features for 21670 Gratiot Road
General Information
Property type
Property subtype
Zoning description
Parking features
Exterior features
Fencing
Lot features
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Real Estate Included
Automotive Uses
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Water source
Amenities
front office
secure storage
Building Details
Year built
Roof type
Buildings
Listing Agency:
Century 21 Signature Realty Midland · Century 21 Real Estate
(989) 837-2100
Listed By:
Tom Webb · License #6502374762
(989) 492-0650
Added: Nov 5
Last Checked: Nov 6 at 8:06PM
MLS# 50226882
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 8,880-square-foot automotive service property was built in 1989 and includes nine service bays with overhead doors, a front office, and storage space. The building has a metal roof and is heated by forced air and space heaters. The site is fenced and includes a parking lot with off-street parking, plus a private water source.
The property occupies 3.53 acres of industrially zoned land and abuts a railroad track.
The property occupies 3.53 acres of industrially zoned land and abuts a railroad track.
Key Highlights
- 8,880‑square‑foot building on 3.53 acres
- Nine service bays with overhead doors
- Industrial zoning; property abuts a railroad track
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
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 3.53-acre industrially zoned parcel includes a fenced lot and dedicated front office.
Where is this auto shop located?
The property is located at 21670 Gratiot Road 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 building on 3.53 acres; Nine service bays with overhead doors; Industrial zoning; property abuts a railroad track
