Updated Corner Auto
For Sale
$600,000
2960 Division Avenue S, Grand Rapids, MI 49548
COMMERCIAL - Grand Rapids, MI
Property Size2,416 SF
Lot Size0.34 Acres
Price / SF$248.34
Days on Market229
Property Features for 2960 Division Avenue S
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Godwin Heights
Middle school district
Godwin Heights
High school district
Godwin Heights
Directions
Take US 131 to exit 81 for M-11/28th St. toward Wyoming. Turn east onto M-11/28th St. SW. go 0.5 miles to Division and turn right. Go 0.2 miles and 2960 Division Ave. S will be on your right-hand side. (Skys Auto Group)
Subdivision
Grand Rapids - G
Standard status
Active
APN
41-18-18-103-037
Size
2,416 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 1 & 2 BLK 3. PENNELL PARK
Tax Annual Amount
5368
Legal Description
LOTS 1 & 2 BLK 3. PENNELL PARK
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1961
Number of units
1
Listing Agency:
Keller Williams Realty Rivertown
(616) 288-3244
Listed By:
G.Larry Branscombe
(616) 299-6846
Added: Jan 1
Changed: Aug 4
Last Checked: Aug 18 at 10:06AM
MLS# 26000104
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated auto shop occupies a 2,416-square-foot building on a 0.34-acre parcel. The property is currently configured for auto repair and car dealership operations, with a lift included in the sale. Other furniture, fixtures, and equipment may be purchased separately. A bathroom is provided, with forced-air heating serving the building.
Positioned at a corner, the property offers high visibility and ingress and egress suited to automotive activity. The site includes 14,636 square feet of land and was originally built in 1961. Broadband and cable service are available. The dealers license is not included in the sale.
Positioned at a corner, the property offers high visibility and ingress and egress suited to automotive activity. The site includes 14,636 square feet of land and was originally built in 1961. Broadband and cable service are available. The dealers license is not included in the sale.
Key Highlights
- 2,416‑square‑foot updated building on a 0.34‑acre parcel
- 14,636 square feet of land
- Currently configured for auto repair and car dealership operations
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
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 47%
Electronics 5%
Popeyes Louisiana Kitchen
Dining
10,885 visits/mo
0.3 miles
Mobil
Shops & Services
5,425 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,297 visits/mo
0.1 miles
Boost Mobile
Electronics
1,127 visits/mo
0.2 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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Frequently Asked Questions
What type of property is this?
Auto shop - Auto repair and dealership improvements occupy a visible corner property with convenient vehicle access.
Where is this auto shop located?
The property is located at 2960 Division Avenue 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 a 0.34‑acre parcel; 14,636 square feet of land; Currently configured for auto repair and car dealership operations
