Auto Sales and Service
2937 S Martin Luther King Jr Blvd Lansing, MI 48910
2937 S Martin Luther King Jr Blvd, Lansing, MI, 48910
$239,000
For Sale
$239,000
Auto sales and service site with a 1,251 sq. ft. shop, drive-in overhead door, and a fully paved lot for 50+ vehicles.
Property Size1,251 SF
Lot Size0.39 Acres
Price / SF$191.05
Days on Market86
Property Features for 2937 S Martin Luther King Jr Blvd
General Information
- Standard status
- Active
- Size
- 1,251 SF
- Lot size
- 0.39 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1956
Listing agency
RE/MAX COMMERCIAL GROUP
(517) 321-2800
Listed by
Matthew Wisniewski · License #6501360426
(517) 321-2800
Source
Cpix.resimplifi
Added: Apr 27 Updated: Jul 20 at 5:55PM Checked: Jul 21 at 3:05AM
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 RE/MAX COMMERCIAL GROUP
Investment Insights
Based on property information with market context.
This auto sales and service property includes a 1,251 sq. ft. building configured for automotive use, with a single drive-in overhead door into a service/detailing bay. The building also features a two-post hoist for maintenance and repairs, along with office space and restroom facilities. The site is supported by a fully paved, solid-surface concrete lot designed for vehicle display and parking.
The hardscape provides capacity for 50+ vehicles, supporting both inventory showcasing and customer parking. The property is located along South Martin Luther King Jr Boulevard in the City of Lansing, offering easy access and high visibility for retail automotive businesses.
Currently occupied by an in-place tenant, the property provides immediate rental income. The overall setup is suited for auto sales, detailing, light service, or a combination of automotive uses.
The hardscape provides capacity for 50+ vehicles, supporting both inventory showcasing and customer parking. The property is located along South Martin Luther King Jr Boulevard in the City of Lansing, offering easy access and high visibility for retail automotive businesses.
Currently occupied by an in-place tenant, the property provides immediate rental income. The overall setup is suited for auto sales, detailing, light service, or a combination of automotive uses.
Key Highlights
- 0.386‑acre fully paved (concrete) auto lot with capacity for 50+ vehicles for sales display and customer parking
- 1,251 sq ft automotive building with a single drive‑in overhead door into a service/detailing bay
- Two‑post hoist included for vehicle maintenance and repairs, supporting sales, detailing, or light service work
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.8k | $15.00 |
| − Vacancy | −$2.6k | −$2.07 |
| EGI | $16.2k | $12.93 |
| − OpEx | −$4.9k | −$3.88 |
| NOI | $11.3k | $9.05 |
1,251 SF · lease $15.00/SF/yr · vacancy 13.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$161.8K
$141.5K – $188.7K
NOI $11,323 @ 7.0% cap · market cap 4.74%
Second Best
Industrial
$116.1K
$101.6K – $135.5K
NOI $8,128 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$257.5K
$225.3K – $300.4K
NOI $18,026 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
A & K Wholesaler
Big Box & Wholesale Store
Spartan Elite Auto ...
Car Dealership
Similar For Sale Nearby
Similar Off Market Nearby
- Shaheen Wholesale Parts Warehouse — 3901 S Martin Luther King Jr Blvd, Lansing, MI 48910
- Shaheen Collision Center — 3901 S Martin Luther King Jr Blvd, Lansing, MI 48910
- Midas — 3800 S Martin Luther King Jr Blvd, Lansing, MI 48910
- CASTLE TIRES LLC — 4000 S Martin Luther King Jr Blvd, Lansing, MI 48910
- Randall Automotive — 3615 S Martin Luther King Jr Blvd, Lansing, MI 48910
FAQs
What type of property is this?
Auto shop - Auto sales and service site with a 1,251 sq. ft. shop, drive-in overhead door, and a fully paved lot for 50+ vehicles.
Where is this auto shop located?
The property is located at 2937 S Martin Luther King Jr Blvd Lansing, MI.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 0.386‑acre fully paved (concrete) auto lot with capacity for 50+ vehicles for sales display and customer parking; 1,251 sq ft automotive building with a single drive‑in overhead door into a service/detailing bay; Two‑post hoist included for vehicle maintenance and repairs, supporting sales, detailing, or light service work
