Three-Bay Auto Repair
For Sale
$400,000
28700 Gratiot Ave, Roseville, MI 48066
Established auto repair facility with business equipment and fixtures included.
Property Size2,250 SF
Price / SF$177.78
Days on Market53
Property Features for 28700 Gratiot Ave
General Information
Standard status
Active
Size
2,250 SF
Class
C
Property subtype
Retail
Zoning
B-3
Additional Details
Traffic Count
60,000 vehicles/day
Service Bays
3
Building Details
Building Size
2,250 SF
Year Built
1960
Stories
1
Listing Agency:
Pilot Property Group
Listed By:
James Diehl · License #6501368863
(586) 337-5241
Source:
Cpix.resimplifi
Added: Aug 4
Changed: Sep 7
Last Checked: Sep 24 at 6:49AM
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 Pilot Property Group
Investment Insights
Based on property information with market context.
This three-bay auto repair facility was built in 1960 and includes the business equipment and fixtures associated with its operation. B-3 zoning supports the property’s established automotive service profile.
The facility is located at 28700 Gratiot Ave in Roseville, Michigan, along Gratiot Ave, which carries more than 60,000 VPD. The property is offered for sale with the existing equipment and fixtures included.
The facility is located at 28700 Gratiot Ave in Roseville, Michigan, along Gratiot Ave, which carries more than 60,000 VPD. The property is offered for sale with the existing equipment and fixtures included.
Key Highlights
- Three‑bay auto repair facility
- Business equipment and fixtures included
- B‑3 zoning
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
$16,632
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
4.16%
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%
$332,640
$332.6K
Cap Rate 7%
$237,600
$237.6K
Cap Rate 9%
$184,800
$184.8K
Market Conditions
NOI Build-Up for 2,250 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
$27.0K $12.00/SF
− Vacancy
−$3.2K −$1.44/SF
EGI
$23.8K $10.56/SF
− OpEx
−$7.1K −$3.17/SF
NOI
$16.6K $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 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%
$332,640
Cap Rate 7%
$237,600
Cap Rate 9%
$184,800
Alternative Uses
Best Use
Retail
$237.6K
$207.9K – $277.2K
NOI $16,632 @ 7.0% cap · market cap 4.16%
Second Best
Industrial
$173.3K
$151.7K – $202.2K
NOI $12,132 @ 7.0% cap · market cap 3.03%
Theoretical Best
Specialty Retail
$421.2K
$368.6K – $491.5K
NOI $29,487 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Service bays
60,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
397k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 38%
Shops & Services 28%
Dining 20%
Apparel 10%
Walmart
Superstores
149,479 visits/mo
0.2 miles
Marshalls
Apparel
38,378 visits/mo
0.1 miles
Five Below
Shops & Services
33,483 visits/mo
0.2 miles
McDonald's
Dining
27,507 visits/mo
0.5 miles
Dollar Tree
Shops & Services
18,707 visits/mo
0.1 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Established auto repair facility with business equipment and fixtures included.
Where is this auto shop located?
The property is located at 28700 Gratiot Ave Roseville, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three‑bay auto repair facility; Business equipment and fixtures included; B‑3 zoning
