Auto Body Shop with Double-Net
New
For Sale
$1,850,000
28460 Groesbeck Hwy, Roseville, MI 48066
The Maaco operator has occupied the facility since 2001 under a lease scheduled to run through August 2036.
Property Size22,276 SF
Lot Size1.32 Acres
Price / SF$83.05
Days on Market2
Property Features for 28460 Groesbeck Hwy
General Information
Standard status
Active
Size
22,276 SF
Lot size
1.32 Acres
Property subtype
Auto Service - Gas-Conv
Lease Type
NN
Tenancy & Operations
Tenant in Place
Yes
In-Place Lease Type
NN
Current Tenants
Maaco
Real Estate Included
Yes
Additional Details
Cap Rate
7.23%
Automotive Uses
collision/body shop
Amenities
7.23% Cap Rate In-Place Rent. Base Rent Stepped Up 13.6% to $150,000 ($6.73/SF) on September 1, 2026, and Increases 8% to $162,000 ($7.27/SF) on September 1, 2031, and 7.88% Return on Price
Low Basis. Offered at $83.05/SF ($1,850,000 for 22,276 SF), Well Below Replacement Cost for a Large-Scale Automotive Facility
Below-Market Rent. In-Place Rent of $6.73 per Square Foot is 61 Percent Below Market Retail Rents of $17.05/SF Triple-Net and 26 Percent Below Industrial Warehouse Rents of $9.11/SF Triple-Net
2001 Real Estate Tax Base. Landlord's Tax Exposure is Fixed at the 2001 Tax Bills ($16,306, or $0.73/SF); the Tenant Pays its Portion of all Real Estate Tax Increases over 2001 Levels.
Limited Landlord Responsibilities. Landlord Maintains the Roof and Four Outer Walls. Tenant Handles all Other Maintenance and Repair, Including HVAC, Lighting, Plumbing and Electrical, and Pays all Utilities and Lease-Required Insurance
22,276 Square Feet Across Two Buildings (19,636 Square Feet and 2,640 Square Feet per City Records), with a Customer Showroom, Paint Booth and Multiple Grade-Level Drive-In Bays, Plus a Fenced Rear Storage Yard.
Two Road Frontages. Parking Fronts both Groesbeck Hwy (M-97) and Cole Street per the Lease Site Plan for Vehicle and Truck Flow
39,831 VPD on Groesbeck Hwy (M-97) Directly in Front of the Site, Plus 3,671 VPD on Cole Street; Groesbeck is a Primary Industrial and Commercial Artery in Macomb County, One Mile from I-696 Exit 26 (94,300 VPD).
Building Details
Building Size
22,276 SF
Buildings
1
Tenancy
Single
Listing Agency:
Tampa Office
Listed By:
DP Patel · License #License(s): OH: SAL 2012000748, NC: LC1048
(813) 387-4812
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Oct 30 at 3:28PM
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 Tampa Office
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Investment Insights
Based on property information with market context.
This 22,276-square-foot automotive facility sits on approximately 1.32 acres at 28460 Groesbeck Hwy in Roseville, Michigan. The Maaco operator has occupied the property since 2001, with a double-net lease extending through August 2036.
Key Highlights
- 22,276‑square‑foot automotive facility on approximately 1.32 acres
- Maaco operator has occupied the property since 2001
- Double‑net lease runs through August 2036
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,664
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,293,280
$3.3M
Cap Rate 7%
$2,352,343
$2.4M
Cap Rate 9%
$1,829,600
$1.8M
Market Conditions
NOI Build-Up for 22,276 SF
Gross rent
$267.3K $12.00/SF
− Vacancy
−$32.1K −$1.44/SF
EGI
$235.2K $10.56/SF
− OpEx
−$70.6K −$3.17/SF
NOI
$164.7K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,293,280
Cap Rate 7%
$2,352,343
Cap Rate 9%
$1,829,600
Alternative Uses
Best Use
Retail
$2.35M
$2.06M – $2.74M
NOI $164,664 @ 7.0% cap · market cap 8.90%
Second Best
Industrial
$1.72M
$1.50M – $2.00M
NOI $120,115 @ 7.0% cap · market cap 6.49%
Theoretical Best
Specialty Retail
$4.17M
$3.65M – $4.87M
NOI $291,930 @ 7.0% cap · market cap 15.78%
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
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
106k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 42%
Home Improvements & Furnishings 2%
McDonald's
Dining
27,921 visits/mo
0.4 miles
Taco Bell
Dining
15,912 visits/mo
0.5 miles
7-Eleven
Shops & Services
12,285 visits/mo
0.2 miles
Marathon
Shops & Services
9,743 visits/mo
0.1 miles
National Coney Island
Dining
7,985 visits/mo
0.2 miles
Demographics for 48066, MI
47,789
Population
22,116
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
9.9 sq mi
ZIP Area
4,827
Density / Sq Mi
$61,222
Median Household Income
$38,978
Median Earnings
$1,175
Median Rent
$142,700
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
Similar Off Market Nearby
- IDJ Automotive Machine Shop — 27206 groesbeck hwy, roseville, mi 48066
- D&P Complete Auto Service — Roseville, MI 48066
- Closed — 27330 Gloede Dr, Warren, MI 48088
- Custom Upholstery Zone — 27290 Gloede Dr STE 2, Warren, MI 48092
- ATM (Shell) — 27431 Groesbeck Hwy, Roseville, MI 48066
Frequently Asked Questions
What type of property is this?
Auto shop - The Maaco operator has occupied the facility since 2001 under a lease scheduled to run through August 2036.
Where is this auto shop located?
The property is located at 28460 Groesbeck Hwy Roseville, MI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 22,276‑square‑foot automotive facility on approximately 1.32 acres; Maaco operator has occupied the property since 2001; Double‑net lease runs through August 2036
