Auto Repair Shop with Loading
New
For Sale
$849,900
25968 Waltz Rd, New Boston, MI 48164
A freestanding, equipped facility with B-2 zoning and truck- and bus-capable loading docks.
Property Size5,200 SF
Lot Size0.63 Acres
Price / SF$163.44
Days on Market2
Property Features for 25968 Waltz Rd
General Information
Standard status
Active
Size
5,200 SF
Lot size
0.63 Acres
Property subtype
Commercial
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,043
Amenities
high overhead doors
4 loading docks
paint booth
receptionist and waiting area
Building Details
Building Size
5,200 SF
Year Built
2001
Buildings
1
Listing Agency:
Top Agent Referral LLC
Listed By:
Glenn Silvenis · License #226970
(734) 699-4000
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:50PM
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 Top Agent Referral LLC
Investment Insights
Based on property information with market context.
This 5,200-square-foot freestanding auto repair and collision facility was built in 2001 on a 0.63-acre parcel. The building includes four loading docks sized for trucks and buses, a four-point hoist, paint booth, receptionist station and waiting area. The property also carries a Class B used car license, repair facility license and salvage license; these approvals do not transfer automatically, and continued operations would require state and local licensing and zoning approvals.
The site has 276 feet of frontage on Waltz Road and is located in New Boston, Michigan. I-94, I-275 and Detroit Metro Airport are described as minutes away. Manheim Detroit Auto Auction is 2 miles from the property, and IAA Auto Auction is approximately 10 miles away.
Expansion options for an impound yard or small dealership are subject to city approval. Equipment is included in the sale.
The site has 276 feet of frontage on Waltz Road and is located in New Boston, Michigan. I-94, I-275 and Detroit Metro Airport are described as minutes away. Manheim Detroit Auto Auction is 2 miles from the property, and IAA Auto Auction is approximately 10 miles away.
Expansion options for an impound yard or small dealership are subject to city approval. Equipment is included in the sale.
Key Highlights
- 5,200 square‑foot freestanding auto repair and collision building, built in 2001
- 0.63‑acre site with 276 feet of frontage on Waltz Road
- Four loading docks accommodate trucks and buses
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
$49,271
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
5.80%
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%
$985,420
$985.4K
Cap Rate 7%
$703,871
$703.9K
Cap Rate 9%
$547,456
$547.5K
Market Conditions
NOI Build-Up for 5,200 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
$74.9K $14.40/SF
− Vacancy
−$4.5K −$0.86/SF
EGI
$70.4K $13.54/SF
− OpEx
−$21.1K −$4.06/SF
NOI
$49.3K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$985,420
Cap Rate 7%
$703,871
Cap Rate 9%
$547,456
Alternative Uses
Best Use
Retail
$703.9K
$615.9K – $821.2K
NOI $49,271 @ 7.0% cap · market cap 5.80%
Second Best
Industrial
$384.6K
$336.5K – $448.7K
NOI $26,921 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$962.7K
$842.4K – $1.12M
NOI $67,392 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48164, MI
9,676
Population
3,625
Households
2.7
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
30.3 sq mi
ZIP Area
319
Density / Sq Mi
$111,173
Median Household Income
$57,148
Median Earnings
$1,495
Median Rent
$313,700
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
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Similar Off Market Nearby
- Clarence's RV Services — 26265 Leontine Rd, New Boston, MI 48164
- Bozzo Inc. New Boston Auto Repair — 25968 Waltz Rd, New Boston, MI 48164
- GDR — 24200 Waltz Rd, New Boston, MI 48164
Frequently Asked Questions
What type of property is this?
Auto shop - A freestanding, equipped facility with B-2 zoning and truck- and bus-capable loading docks.
Where is this auto shop located?
The property is located at 25968 Waltz Rd New Boston, MI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 5,200 square‑foot freestanding auto repair and collision building, built in 2001; 0.63‑acre site with 276 feet of frontage on Waltz Road; Four loading docks accommodate trucks and buses
