Corner Auto Repair and
For Sale
$600,000
2960 Division Ave S, Grand Rapids, MI 49548
Updated building with a lift and favorable corner ingress/egress, currently used for auto repair and car sales.
Property Size2,416 SF
Lot Size0.34 Acres
Price / SF$248.34
Days on Market96
Property Features for 2960 Division Ave S
General Information
Standard status
Active
Size
2,416 SF
Lot size
0.34 Acres
Additional Details
Business Included
Yes
Building Details
Year Built
1961
Listing Agency:
Keller Williams Realty Rivertown
Listed By:
G.Larry Branscombe
(616) 299-6846
Source:
Katie-k
Added: Jul 17
Changed: Oct 3
Last Checked: Oct 7 at 2:52PM
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 Keller Williams Realty Rivertown
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Investment Insights
Based on property information with market context.
This updated corner building is currently operating as a car dealership (dealers license not included in the sale) and an auto repair shop. The property includes a lift, and additional fixtures and equipment are available for purchase. The offering totals 2,416 square feet.
Located at 2960 Division Avenue Unit SourceFi in Grand Rapids, MI, the site is described as a high-visibility corner with ideal ingress and egress.
The current configuration supports both automotive retail and repair activity, with the included lift supporting service operations.
Located at 2960 Division Avenue Unit SourceFi in Grand Rapids, MI, the site is described as a high-visibility corner with ideal ingress and egress.
The current configuration supports both automotive retail and repair activity, with the included lift supporting service operations.
Key Highlights
- Updated 2,416 SF building currently operating as a car dealership and auto repair shop
- Corner location with favorable ingress/egress for vehicle access
- Lift included for the auto repair operation; other F & F equipment available for purchase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,022
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,440
$700.4K
Cap Rate 7%
$500,314
$500.3K
Cap Rate 9%
$389,133
$389.1K
Market Conditions
NOI Build-Up for 2,416 SF
Gross rent
$53.1K $21.96/SF
− Vacancy
−$3.0K −$1.25/SF
EGI
$50.0K $20.71/SF
− OpEx
−$15.0K −$6.21/SF
NOI
$35.0K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,440
Cap Rate 7%
$500,314
Cap Rate 9%
$389,133
Alternative Uses
Best Use
Retail
$500.3K
$437.8K – $583.7K
NOI $35,022 @ 7.0% cap · market cap 5.84%
Second Best
Industrial
$359.9K
$314.9K – $419.9K
NOI $25,195 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$560.7K
$490.6K – $654.1K
NOI $39,248 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
35k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 9%
Hotels & Casinos 2%
Home Improvements & Furnishings 1%
Speedway
Shops & Services
9,914 visits/mo
0.3 miles
Marathon
Shops & Services
7,867 visits/mo
0.5 miles
Dollar General
Shops & Services
6,379 visits/mo
0.3 miles
PNC Bank
Shops & Services
4,193 visits/mo
0.4 miles
Pizza Hut
Dining
3,051 visits/mo
0.4 miles
Demographics for 49548, MI
34,741
Population
13,174
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
86%
High-School Grad
10.8 sq mi
ZIP Area
3,217
Density / Sq Mi
$62,218
Median Household Income
$35,831
Median Earnings
$1,129
Median Rent
$149,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Auto Shade — 3636 Buchanan Ave SW, Wyoming, MI 49548
- J&b Auto repair — 3650 Buchanan Ave SW, Grand Rapids, MI 49548
- Timmers Service — 3600 Division Ave S, Grand Rapids, MI 49548
- Godwin Body Shop Inc — 3622 Division Ave S, Grand Rapids, MI 49548
- Chumino's Tire & Auto Repair — 3712 Division St, Wyoming, MI 49548
Frequently Asked Questions
What type of property is this?
Auto shop - Updated building with a lift and favorable corner ingress/egress, currently used for auto repair and car sales.
Where is this auto shop located?
The property is located at 2960 Division Ave S Grand Rapids, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Updated 2,416 SF building currently operating as a car dealership and auto repair shop; Corner location with favorable ingress/egress for vehicle access; Lift included for the auto repair operation; other F & F equipment available for purchase
