Freestanding Auto Parts Retail
For Sale
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33350 Schoenherr Rd, Sterling Heights, MI 48312
Freestanding 1995-built auto parts store with double-net structure and approximately 2.5 years remaining on the current lease.
Property Size10,000 SF
Price / SF$180.50
Days on Market100
Property Features for 33350 Schoenherr Rd
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$135,340
Building Details
Year Built
1995
Buildings
1
Tenancy
Single
Listing Agency:
CBRE
Listed By:
David Hesano · License #MI 6501300653
Source:
Crexi
Added: Jul 8
Changed: Oct 4
Last Checked: Oct 14 at 11:51PM
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 CBRE
Investment Insights
Based on property information with market context.
Constructed in 1995, this freestanding O’Reilly auto parts store was originally built for Murray’s Auto Parts and remains operated by O’Reilly at the location. The property includes an active lease with approximately two and a half (2.5) years remaining on the current term, followed by three (3) option periods that include 5% rental rate increases in each option. The lease is structured as double-net (NN), with landlord responsibilities limited to the roof, structure, outer walls, and utility service lines.
Located at 33350 Schoenherr Rd in Sterling Heights, Michigan, the store operates within a densely populated suburban trade area.
O’Reilly Auto Parts is a national brand with more than 6,600 stores across the United States, Canada, and Mexico.
Located at 33350 Schoenherr Rd in Sterling Heights, Michigan, the store operates within a densely populated suburban trade area.
O’Reilly Auto Parts is a national brand with more than 6,600 stores across the United States, Canada, and Mexico.
Key Highlights
- Freestanding auto parts store built in 1995 for Murray's Auto Parts, currently operated by O'Reilly Auto Parts
- Approximately 2.5 years remaining on the current lease term with three remaining option periods
- 5% rental rate increases in each of the three remaining option periods
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,175
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,403,500
$2.4M
Cap Rate 7%
$1,716,786
$1.7M
Cap Rate 9%
$1,335,278
$1.3M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$186.0K $18.60/SF
− Vacancy
−$14.3K −$1.43/SF
EGI
$171.7K $17.17/SF
− OpEx
−$51.5K −$5.15/SF
NOI
$120.2K $12.02/SF
Area
Sterling Heights, MI
Vacancy
7.70%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,403,500
Cap Rate 7%
$1,716,786
Cap Rate 9%
$1,335,278
Alternative Uses
Best Use
Retail
$1.72M
$1.50M – $2.00M
NOI $120,175 @ 7.0% cap · market cap 6.66%
Second Best
Industrial
$733.9K
$642.2K – $856.2K
NOI $51,373 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,423 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
95k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 31%
Superstores 19%
Electronics 2%
Speedway
Shops & Services
18,410 visits/mo
0.2 miles
Big Lots
Superstores
17,686 visits/mo
0.2 miles
Dunkin' Donuts
Dining
9,362 visits/mo
0.3 miles
BIGGBY COFFEE
Dining
8,053 visits/mo
0.4 miles
Chase Bank
Shops & Services
6,761 visits/mo
0.2 miles
Demographics for 48312, MI
34,854
Population
14,282
Households
2.4
Avg Household Size
42
Median Age
31%
College-Educated
87%
High-School Grad
11.1 sq mi
ZIP Area
3,140
Density / Sq Mi
$71,266
Median Household Income
$40,488
Median Earnings
$1,176
Median Rent
$253,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Kwik Start Towing
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- Access Systems Sterling Heights — 34863 schoenherr rd, sterling heights, mi 48312
Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding 1995-built auto parts store with double-net structure and approximately 2.5 years remaining on the current lease.
Where is this auto shop located?
The property is located at 33350 Schoenherr Rd Sterling Heights, MI.
What is the asking price?
The asking price for this property is $1,805,000.
What are key features of this property?
This property features: Freestanding auto parts store built in 1995 for Murray's Auto Parts, currently operated by O'Reilly Auto Parts; Approximately 2.5 years remaining on the current lease term with three remaining option periods; 5% rental rate increases in each of the three remaining option periods
