Auto Repair Facility For
For Sale
$1,200,000
Pending
3041 S Wayne Rd, Wayne, MI 48184
Well-equipped auto repair shop in prime location with established clientele.
Property Size4,867 SF
Days on Market428
Property Features for 3041 S Wayne Rd
General Information
Standard status
Pending
Size
4,867 SF
Taxes and HOA fees
Annual Taxes
$7,914
Listing Agency:
EXP Realty Main
(734) 891-2622
Listed By:
Heidi Haidar · License #6501409603
(734) 891-2622
Source:
Exprealty
Added: Jun 23, 2025
Changed: Aug 23
Last Checked: Aug 22 at 8:27AM
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 EXP Realty Main
Investment Insights
Based on property information with market context.
This is an opportunity to own an auto repair facility in Wayne, MI. The property is located in a prime location between Michigan Ave and Ford Rd, offering visibility and customer traffic. The turn-key business features 7 hoists, fully equipped for high-volume service. The property includes an office and waiting room. The business has an established clientele and is a trusted name in the community. This automotive business is located in a booming area.
Key Highlights
- Prime location between Michigan Ave and Ford Rd with easy access and high‑traffic, ensuring excellent visibility.
- Turn‑key business: a well‑established, family‑owned auto repair shop ready for immediate operation.
- 7 hoists: fully equipped, enabling high‑volume service capacity.
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
$46,116
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
3.84%
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%
$922,320
$922.3K
Cap Rate 7%
$658,800
$658.8K
Cap Rate 9%
$512,400
$512.4K
Market Conditions
NOI Build-Up for 4,867 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
$70.1K $14.40/SF
− Vacancy
−$4.2K −$0.86/SF
EGI
$65.9K $13.54/SF
− OpEx
−$19.8K −$4.06/SF
NOI
$46.1K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$922,320
Cap Rate 7%
$658,800
Cap Rate 9%
$512,400
Alternative Uses
Best Use
Retail
$658.8K
$576.5K – $768.6K
NOI $46,116 @ 7.0% cap · market cap 3.84%
Second Best
Industrial
$360.0K
$315.0K – $420.0K
NOI $25,197 @ 7.0% cap · market cap 2.10%
Theoretical Best
Specialty Retail
$901.1K
$788.5K – $1.05M
NOI $63,076 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
110k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 44%
Home Improvements & Furnishings 6%
Electronics 1%
McDonald's
Dining
22,712 visits/mo
0.4 miles
Taco Bell
Dining
13,870 visits/mo
0.3 miles
Dollar Tree
Shops & Services
12,170 visits/mo
0.1 miles
Checkers
Dining
8,470 visits/mo
0.3 miles
Marathon
Shops & Services
7,411 visits/mo
0.0 miles
Demographics for 48184, MI
17,776
Population
7,739
Households
2.3
Avg Household Size
40
Median Age
16%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
2,469
Density / Sq Mi
$54,572
Median Household Income
$36,548
Median Earnings
$924
Median Rent
$142,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kacey's Towing INC — 35425 w michigan ave, wayne, mi 48184
- Touchdown Towing — 4082 4th St, Wayne, MI 48184
- U Broke IT auto — 4082 4th St, Wayne, MI 48184
- AK AUTO PARTS LLC — 4090 2nd St, Wayne, MI 48184
- F & R Automotive Car Care — 34655 E Michigan Ave, Wayne, MI 48184
Frequently Asked Questions
What type of property is this?
Auto shop - Well-equipped auto repair shop in prime location with established clientele.
Where is this auto shop located?
The property is located at 3041 S Wayne Rd Wayne, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime location between Michigan Ave and Ford Rd with easy access and high‑traffic, ensuring excellent visibility.; Turn‑key business: a well‑established, family‑owned auto repair shop ready for immediate operation.; 7 hoists: fully equipped, enabling high‑volume service capacity.
