Automotive Property with Service
2200 Elizabeth Lake Road, Waterford, MI 48328
For Sale
$4,200,000
The sale combines dealership operations, real estate, service equipment, and two dealer licenses; vehicle inventory is excluded.
Property Size12,143 SF
Lot Size6.02 Acres
Price / SF$345.88
Days on Market12
Property Features for 2200 Elizabeth Lake Road
General Information
Standard status
Size
Lot size
Site & Location
Road Access
Fenced Yard
Outdoor Storage
Automotive
Service Bays
Automotive Uses
Tenancy & Operations
Currently Operating
Real Estate Included
Additional Details
Business Included
Amenities
glass showroom
private offices
customer lounge
break room
storage
mezzanine
display lots
gated fenced lot
cameras
alarm
fencing
gates
lot lighting
Building Details
Year Built
Buildings
Listing Agency:
Raven Real Estate Group
(248) 787-0816
Listed By:
Vladyslav Kruk
Source:
Alexmi
Added: Oct 26
Changed: Nov 6
Last Checked: Nov 6 at 4:08PM
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 Raven Real Estate Group
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Investment Insights
Based on property information with market context.
The 12,143-square-foot automotive property sits on 6.02 acres and was built in 1987. Its dealership space includes a glass showroom, private offices, a customer lounge, a break room, storage, and a mezzanine. The service area has 6 service doors, 2 paint doors, and a wash and detail bay. Included equipment comprises 4 lifts, a frame machine, a paint booth, and a forklift. Display areas occupy the front and side of the building, with an additional gated, fenced lot at the rear. Cameras, an alarm, fencing, gates, and lot lighting are also included.
The property is on Elizabeth Lake Road, west of Telegraph Road, beside the former Summit Place Mall site, which is being redeveloped as the Oakland County Business Center. The sale includes the operating business, its name and website, the real estate, equipment, and Class B used vehicle dealer and Class C used vehicle parts dealer licenses. Vehicle inventory is not part of the sale. The seller will provide one month of training after closing; showings are by appointment.
The property is on Elizabeth Lake Road, west of Telegraph Road, beside the former Summit Place Mall site, which is being redeveloped as the Oakland County Business Center. The sale includes the operating business, its name and website, the real estate, equipment, and Class B used vehicle dealer and Class C used vehicle parts dealer licenses. Vehicle inventory is not part of the sale. The seller will provide one month of training after closing; showings are by appointment.
Key Highlights
- 6.02 acres with a 12,143‑square‑foot former franchise dealership
- Built in 1987; showroom, offices, customer lounge, break room, storage, and mezzanine
- Service area includes 6 service doors, 2 paint doors, and a wash/detail bay
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,664
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,613,280
$2.6M
Cap Rate 7%
$1,866,629
$1.9M
Cap Rate 9%
$1,451,822
$1.5M
Market Conditions
NOI Build-Up for 12,143 SF
Gross rent
$204.0K $16.80/SF
− Vacancy
−$17.3K −$1.43/SF
EGI
$186.7K $15.37/SF
− OpEx
−$56.0K −$4.61/SF
NOI
$130.7K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,613,280
Cap Rate 7%
$1,866,629
Cap Rate 9%
$1,451,822
Alternative Uses
Best Use
Retail
$1.87M
$1.63M – $2.18M
NOI $130,664 @ 7.0% cap · market cap 3.11%
Second Best
Industrial
$859.5K
$752.1K – $1.00M
NOI $60,164 @ 7.0% cap · market cap 1.43%
Theoretical Best
Specialty Retail
$2.62M
$2.29M – $3.06M
NOI $183,340 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
9
Service bays
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
75k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 31%
Superstores 12%
Apparel 9%
Taco Bell
Dining
9,768 visits/mo
0.2 miles
Big Lots
Superstores
8,732 visits/mo
0.4 miles
Dollar Tree
Shops & Services
8,238 visits/mo
0.4 miles
BP
Shops & Services
7,937 visits/mo
0.2 miles
Arby's
Dining
7,157 visits/mo
0.3 miles
Demographics for 48328, MI
24,178
Population
11,938
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
2,717
Density / Sq Mi
$69,788
Median Household Income
$42,084
Median Earnings
$1,041
Median Rent
$210,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Automotive properties in Oakland County, MI
Properties on Market for Automotive properties in Oakland County
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 2270 Elizabeth Lake Rd, Waterford Twp, MI 48328
Frequently Asked Questions
What type of property is this?
Automotive property - The sale combines dealership operations, real estate, service equipment, and two dealer licenses; vehicle inventory is excluded.
Where is this automotive property located?
The property is located at 2200 Elizabeth Lake Road Waterford, MI.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 6.02 acres with a 12,143‑square‑foot former franchise dealership; Built in 1987; showroom, offices, customer lounge, break room, storage, and mezzanine; Service area includes 6 service doors, 2 paint doors, and a wash/detail bay
