Corner Auto
New
For Sale
$1,600,000
30985 Schoenherr Rd, Warren, MI 48088
The 4,640-square-foot building is identified for automotive service, with convenience retail and fast-food formats also noted as possibilities.
Property Size4,640 SF
Price / SF$344.83
Days on Market2
Property Features for 30985 Schoenherr Rd
General Information
Standard status
Active
Size
4,640 SF
Property subtype
Commercial
Site & Location
Traffic Count
75,000 vehicles/day
Road Access
Yes
Additional Details
Service Bays
8
Building Details
Year Built
1986
Buildings
1
Tenancy
Single
Listed By:
Frank C Hillman · License #MISPE-6502431666
(586) 634-4500
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:55PM
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 Frank C Hillman
Investment Insights
Based on property information with market context.
This 4,640-square-foot auto shop property includes an existing building at the corner of Schoenherr Road and 13 Mile Road. The real estate is offered separately from the operating business, and tenant rights remain in place. Automotive repair, convenience-store use, and fast-food use are identified as potential formats.
The site is at a corner described as carrying more than 75,000 vehicles per day across both roads combined. A Kroger development is across the street, and a Warren fire station is one-quarter mile away on Schoenherr Road.
The site is at a corner described as carrying more than 75,000 vehicles per day across both roads combined. A Kroger development is across the street, and a Warren fire station is one-quarter mile away on Schoenherr Road.
Key Highlights
- 4,640‑square‑foot building
- Corner location at Schoenherr Road and 13 Mile Road
- More than 75,000 vehicles daily on both roads combined
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
$57,151
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
3.57%
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%
$1,143,020
$1.1M
Cap Rate 7%
$816,443
$816.4K
Cap Rate 9%
$635,011
$635.0K
Market Conditions
NOI Build-Up for 4,640 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
$86.3K $18.60/SF
− Vacancy
−$4.7K −$1.00/SF
EGI
$81.6K $17.60/SF
− OpEx
−$24.5K −$5.28/SF
NOI
$57.2K $12.32/SF
Area
Warren, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,143,020
Cap Rate 7%
$816,443
Cap Rate 9%
$635,011
Alternative Uses
Best Use
Retail
$816.4K
$714.4K – $952.5K
NOI $57,151 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$340.5K
$298.0K – $397.3K
NOI $23,837 @ 7.0% cap · market cap 1.49%
Theoretical Best
Office A
$1.02M
$895.7K – $1.19M
NOI $71,652 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Service bays
75,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
195k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Shops & Services 34%
Dining 31%
Kroger
Groceries
67,625 visits/mo
0.2 miles
McDonald's
Dining
30,656 visits/mo
0.1 miles
Burger King
Dining
23,406 visits/mo
0.1 miles
Dollar Tree
Shops & Services
21,501 visits/mo
0.1 miles
Kroger Fuel Center
Shops & Services
17,073 visits/mo
0.1 miles
Demographics for 48088, MI
23,142
Population
9,633
Households
2.4
Avg Household Size
44
Median Age
23%
College-Educated
91%
High-School Grad
4.4 sq mi
ZIP Area
5,260
Density / Sq Mi
$79,137
Median Household Income
$48,452
Median Earnings
$1,144
Median Rent
$205,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Windshield Repair Today of Warren — 30780 schoenherr rd, warren, mi 48088
- Pride Auto Repair — 30985 Schoenherr Rd, Warren, MI 48088
- Used Transmission Warehouse — 13204 Masonic, Warren, MI 48088
Frequently Asked Questions
What type of property is this?
Auto shop - The 4,640-square-foot building is identified for automotive service, with convenience retail and fast-food formats also noted as possibilities.
Where is this auto shop located?
The property is located at 30985 Schoenherr Rd Warren, MI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 4,640‑square‑foot building; Corner location at Schoenherr Road and 13 Mile Road; More than 75,000 vehicles daily on both roads combined
