Listing Agency: CBRE | Detroit

Listed By: Matthew Croswell Show Phone

Source: Cbre

Added: Oct 2 Changed: Oct 4 Last Checked: Oct 5 at 4:02PM

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Investment Insights

Based on property information with market context.

This auto shop is located at 32418 8 Mile Road in Farmington, Michigan. The available property details identify the asset type and address.

Key Highlights

• 32418 8 Mile Road address in Farmington, Michigan

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,562

Cap Rate

8.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,291,240 $1.3M

Cap Rate 7%

$922,314 $922.3K

Cap Rate 9%

$717,356 $717.4K

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$100.8K $16.80/SF

− Vacancy

−$8.6K −$1.43/SF

EGI

$92.2K $15.37/SF

− OpEx

−$27.7K −$4.61/SF

NOI

$64.6K $10.76/SF

Area

Oakland County, MI

Vacancy

8.50%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,291,240

Cap Rate 7%

$922,314

Cap Rate 9%

$717,356

Alternative Uses

Best Use

Retail

$922.3K

$807.0K – $1.08M (±1% cap)

NOI $64,562 @ 7.0% cap · market cap 8.07%

Second Best

Industrial

$424.7K

$371.6K – $495.5K (±1% cap)

NOI $29,728 @ 7.0% cap · market cap 3.72%

Theoretical Best

Specialty Retail

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,590 @ 7.0% cap · market cap 11.32%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Auto shops

Suggested Use

Top Pick Law Firm Real Estate Agency Kitchen & Bath Showroom Storage Facility Carpet & Flooring Store Locksmith

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

Location Intelligence

Trade Area within ½ mile

699

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48336, MI

26,802

Population

12,296

Households

2.2

Avg Household Size

42

Median Age

44%

College-Educated

92%

High-School Grad

9.3 sq mi

ZIP Area

2,882

Density / Sq Mi

$85,325

Median Household Income

$54,077

Median Earnings

$1,141

Median Rent

$247,600

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Barry's Auto Tech, Inc. — 30680 Grand River Ave, Farmington, MI 48336
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Frequently Asked Questions

What type of property is this?

Auto shop - The property is located on 8 Mile Road in Farmington, Michigan.

Where is this auto shop located?

The property is located at 32418 8 Mile Road Farmington, MI.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 32418 8 Mile Road address in Farmington, Michigan