Updated Automotive Service
For Sale
$600,000
2960 Division Ave S, Grand Rapids, MI 49548
Corner-site facility combines vehicle sales and repair functions.
Property Size2,416 SF
Lot Size0.34 Acres
Price / SF$248.34
Days on Market44
Property Features for 2960 Division Ave S
General Information
Standard status
Active
Size
2,416 SF
Lot size
0.34 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1961
Buildings
1
Listing Agency:
Keller Williams Realty Rivertown
(616) 299-6846
Listed By:
G.Larry Branscombe
Source:
Katie-k
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 28 at 12:50PM
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 Keller Williams Realty Rivertown
Investment Insights
Based on property information with market context.
This automotive property includes a 2,416-square-foot updated building on 14,636 square feet of land. The facility currently accommodates a car dealership and an auto repair shop, with a lift included in the sale. The building was constructed in 1961, and the dealership license is not included.
Located at 2960 Division Avenue in Grand Rapids, the corner setting provides ingress and egress for automotive operations. Additional furniture, fixtures, and equipment may be purchased separately.
Located at 2960 Division Avenue in Grand Rapids, the corner setting provides ingress and egress for automotive operations. Additional furniture, fixtures, and equipment may be purchased separately.
Key Highlights
- 2,416‑square‑foot updated building on 14,636 square feet of land
- Current car dealership and auto repair shop operations
- Automotive lift included in the sale
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
$35,022
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
5.84%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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
Questions? Ask Rey
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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 - Corner-site facility combines vehicle sales and repair functions.
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: 2,416‑square‑foot updated building on 14,636 square feet of land; Current car dealership and auto repair shop operations; Automotive lift included in the sale
