Auto Shop with
For Sale
$435,000
Pending
2511 N Parma Road, Parma, MI 49269
Commercial Sale, Parma, MI
Property Size4,800 SF
Lot Size2.11 Acres
Days on Market49
Property Features for 2511 N Parma Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Western
Middle school district
Western
High school district
Western
Standard status
Pending
APN
000-07-30-176-001-04
Size
4,800 SF
Lot size
2.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG AT NW COR OF SEC 30 TH S ALG W SEC LN 2170.47 FT TH S 89DEG 29'37''E 618 FT TO A PT FOR PL OF BEG OF THIS DESCN TH N
Tax Annual Amount
5272
Legal Description
BEG AT NW COR OF SEC 30 TH S ALG W SEC LN 2170.47 FT TH S 89DEG 29'37''E 618 FT TO A PT FOR PL OF BEG OF THIS DESCN TH N
Utilities
Utilities
Phone Available
Sewer type
Septic Tank
Heating system
Space Heater, Forced Air
Water source
Well
Amenities
self-storage building
vehicle pits
Building Details
Year built
1993
Floors in Building
1
Number of units
18
Building materials
Block, Vinyl Siding
Roof type
Composition, Metal
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Added: Aug 7
Changed: Sep 16
Last Checked: Sep 24 at 1:06AM
MLS# 26041352
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2.11-acre commercial property combines a 4,800-square-foot former automotive repair facility with an 18-unit self-storage building. The service structure includes three service bays and two vehicle pits, supporting automotive repair, fleet maintenance, or equipment service operations. The site also provides space for parking and outdoor storage.
Located at 2511 N Parma Road in Parma, Michigan, the property sits seconds from the I-94 interchange. The interstate connection provides access toward Jackson, Battle Creek, Ann Arbor, and surrounding areas. Building features include block and vinyl siding construction, forced-air and space-heater systems, broadband, a well, and a septic tank.
Located at 2511 N Parma Road in Parma, Michigan, the property sits seconds from the I-94 interchange. The interstate connection provides access toward Jackson, Battle Creek, Ann Arbor, and surrounding areas. Building features include block and vinyl siding construction, forced-air and space-heater systems, broadband, a well, and a septic tank.
Key Highlights
- 2.11‑acre site at 2511 N Parma Road, Parma, MI 49269
- 4,800 square feet of former automotive repair space
- Three service bays and two vehicle pits
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
$33,348
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
7.67%
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%
$666,960
$667.0K
Cap Rate 7%
$476,400
$476.4K
Cap Rate 9%
$370,533
$370.5K
Market Conditions
NOI Build-Up for 4,800 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
$53.0K $11.04/SF
− Vacancy
−$5.4K −$1.12/SF
EGI
$47.6K $9.92/SF
− OpEx
−$14.3K −$2.98/SF
NOI
$33.3K $6.95/SF
Area
Jackson County, MI
Vacancy
10.10%
Lease Rate
$11.04 /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%
$666,960
Cap Rate 7%
$476,400
Cap Rate 9%
$370,533
Alternative Uses
Best Use
Self Storage
$608.3K
$532.2K – $709.6K
NOI $42,578 @ 7.0% cap · market cap 9.79%
Second Best
Warehouse
$578.5K
$506.2K – $674.9K
NOI $40,494 @ 7.0% cap · market cap 9.31%
Theoretical Best
Office A
$766.2K
$670.5K – $894.0K
NOI $53,637 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49269, MI
5,874
Population
2,083
Households
2.8
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
55.8 sq mi
ZIP Area
105
Density / Sq Mi
$83,933
Median Household Income
$50,372
Median Earnings
$967
Median Rent
$200,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- J&T Repair — 2505 N Parma Rd, Parma, MI 49269
- Oil Zone — 2511 N Parma Rd, Parma, MI 49269
Frequently Asked Questions
What type of property is this?
Auto shop - Former repair facility with service bays, vehicle pits, and an accompanying self-storage building.
Where is this auto shop located?
The property is located at 2511 N Parma Road Parma, MI.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 2.11‑acre site at 2511 N Parma Road, Parma, MI 49269; 4,800 square feet of former automotive repair space; Three service bays and two vehicle pits
