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    Private Garage Condo with Mezzanine Title is generated by Realmo AI

    33 Straightaway Dr, Pontiac, MI 48341

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    For Sale
    $950,000

    Custom private garage with oversized overhead door access and a finished mezzanine lounge for storage and entertaining.

    Type:Commercial
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 6:13 am

    Property Features for 33 Straightaway Dr

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    2016

    We can help!

    Listing Contact
    Mark A Marangon

    Listing agent Mark A Marangon License #6501239422

    Listing office KW Domain Birmingham

    Listing date Jun 3, 2026

    Source Elliman

    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 KW Domain Birmingham

    HighLights

    • 2016 custom private garage condo at M1 Concourse on Straightaway Drive, within a gated community
    • Lower level includes epoxy flooring, open‑span construction, and oversized overhead door access for multiple vehicles
    • Custom car lift raises vehicles about 2 feet above the mezzanine level for a vehicle showcase
    • Finished mezzanine lounge with 12 in plank engineered 3/4 in hardwood floors, custom cabinetry, quartzite countertops, and oversized island seating
    • Built‑in entertainment wall with premium AV setup plus designer lighting and a large HVLS ceiling fan
    • Full bath with oversized glass shower and custom tile work; lower‑level bath access

    Overview

    This private garage condo is built with an open, industrial-modern design and a finished lower level intended for both vehicle storage and hosting. The lower level includes sleek epoxy flooring, an open-span layout, and oversized overhead door access for convenient vehicle entry. A custom car lift raises vehicles approximately 2 feet above the mezzanine level, creating an integrated showcase setup. Additional improvements include a full bath with an oversized glass shower and custom tile work, along with a lower-level bath access point, exposed industrial-style elements, and a large HVLS ceiling fan.

    The property is located within the gated M1 Concourse community. Owners have access to a private performance track and a calendar of member events including car shows, concerts, festivals, and cruise nights, all within the community.

    The space is well suited for a collector or operator looking for a one-of-a-kind combination of premium storage and a finished entertaining/work environment. Upstairs, the track-inspired mezzanine has been converted into an upscale lounge with 12-inch plank engineered 3/4-inch hardwood floors, custom kitchen cabinetry, quartzite countertops, oversized island seating, and designer lighting. The mezzanine also features a built-in entertainment wall with a premium AV setup and an open-concept layout that can support flexible use, including a unique office or lounge overlooking the action.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Big Tim's Eatery — 542 Nebraska Ave, Pontiac, MI 48341

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2928
    Latitude
    42.6266

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    FAQs

    What type of property is this?
    Flex space - Custom private garage with oversized overhead door access and a finished mezzanine lounge for storage and entertaining.
    Where is this flex space located?
    The property is located at 33 Straightaway Dr Pontiac, MI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: 2016 custom private garage condo at M1 Concourse on Straightaway Drive, within a gated community; Lower level includes epoxy flooring, open‑span construction, and oversized overhead door access for multiple vehicles; Custom car lift raises vehicles about 2 feet above the mezzanine level for a vehicle showcase
    (248) 408-5100
    We can help!
    Listing Contact
    Mark A Marangon
    Real Estate License ID: 6501239422
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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