Building Details

Abandoned No

Listing Agency: Max Broock Realtors d***@realestateone.com Show Phone

Listed By: Alia J Belbeisi · License #6501292894 Show Phone

Source: Exprealty

Added: Oct 19 Changed: Oct 21 Last Checked: Oct 20 at 8:39PM

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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 Max Broock Realtors

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This standalone auto shop contains approximately 3,925 square feet, including a separate 792-square-foot garage area for equipment work. The property also has a fenced lot used for vehicle storage. Built in 1954, the building is currently operating as a dealership and mechanic shop.

The property is located on Groesbeck Highway in Fraser, Michigan. A neighboring building at 31560 Groesbeck Hwy is also for sale.

Key Highlights

• Approximately 3,925 square feet, including a separate 792‑square‑foot garage area
• Fenced lot used to store vehicles
• Currently used as a dealership and mechanic shop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,014

Cap Rate

5.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$580,280 $580.3K

Cap Rate 7%

$414,486 $414.5K

Cap Rate 9%

$322,378 $322.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,925 SF

Gross rent

$47.1K $12.00/SF

− Vacancy

−$5.7K −$1.44/SF

EGI

$41.4K $10.56/SF

− OpEx

−$12.4K −$3.17/SF

NOI

$29.0K $7.39/SF

Area

Macomb County, MI

Vacancy

12.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$580,280

Cap Rate 7%

$414,486

Cap Rate 9%

$322,378

Alternative Uses

Best Use

Retail

$414.5K

$362.7K – $483.6K (±1% cap)

NOI $29,014 @ 7.0% cap · market cap 5.80%

Second Best

Industrial

$302.3K

$264.6K – $352.7K (±1% cap)

NOI $21,164 @ 7.0% cap · market cap 4.23%

Theoretical Best

Specialty Retail

$734.8K

$643.0K – $857.3K (±1% cap)

NOI $51,438 @ 7.0% cap · market cap 10.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

value auto rental ... Car Rental Facility

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

647

Businesses Nearby

85k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 54% Dining 44% Electronics 2%

Dollar Tree Shops & Services

18,390 visits/mo 0.1 miles

Valero Energy Shops & Services

9,706 visits/mo 0.4 miles

Ram's Horn Dining

9,572 visits/mo 0.5 miles

Jimmy John's Dining

9,535 visits/mo 0.4 miles

Family Dollar Shops & Services

7,638 visits/mo 0.3 miles

Demographics for 48026, MI

14,726

Population

6,778

Households

2.2

Avg Household Size

44

Median Age

21%

College-Educated

91%

High-School Grad

4.1 sq mi

ZIP Area

3,592

Density / Sq Mi

$61,118

Median Household Income

$40,198

Median Earnings

$827

Median Rent

$193,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

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Automotive Property with Repair Bays

31560 Groesbeck Hwy, Fraser, MI 48026

$850,000

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Warehouse Space

31529 Utica Rd, Fraser, MI 48026

$300,000

3,122 SF

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Newly Constructed Strip Mall

16777 E 13 Mile Rd, Fraser, MI 48026

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Updated Triplex

33344 Duncan, Fraser, MI 48026

$275,000

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New Construction Multi-Tenant Warehouse

33417 Kelly Rd, Fraser, MI 48026

$499,000

10,100 SF

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Freestanding Industrial Flex Building

34180 Klein Rd, Fraser, MI 48026

$900,000

12,100 SF

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Five-Bay Coin-Operated Car Wash

31062 Utica Road, Fraser, MI 48026

Contact for pricing

2,980 SF

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Corner Strip Mall

31896-31938 Groesbeck, Fraser, MI 48026

Contact for pricing

View details

Manufacturing Facility with Multiple Cranes

34141 Kelly Rd, Fraser, MI 48026

$1,450,000

18,157 SF

View details

Restaurant with Existing Equipment

31298 Groesbeck Hwy, Fraser, MI 48026

$89,900

900 SF

View details

Manufacturing Building with Multiple Cranes

31375 Fraser Dr, Fraser, MI 48026

$1,875,000

23,592 SF

View details

Industrial Property For Sale/Lease

33419 Kelly Road, Fraser, MI 48026

Contact for pricing

10,100 SF

View details

Similar Off Market Nearby

• Adavanced Auto Body — Roseville, MI 48066
• Maxx Automotive & Transmission — 30875 Groesbeck Hwy, Roseville, MI 48066
• Maxx Automotive Towing & Transmission Repair — 30875 groesbeck hwy, roseville, mi 48066
• Warren Auto & Tire Services — 16480 E Thirteen Mile Rd, Roseville, MI 48066
• Saints Auto Body Shop — 13 Mile Rd, Roseville, MI 48066

Frequently Asked Questions

What type of property is this?

Auto shop - A separate garage area provides space for equipment work alongside the main building.

Where is this auto shop located?

The property is located at 31580 Groesbeck Highway Fraser, MI.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Approximately 3,925 square feet, including a separate 792‑square‑foot garage area; Fenced lot used to store vehicles; Currently used as a dealership and mechanic shop