Auto Service Building with
For Sale
$2,200,000
3420 Lapeer, Metamora, MI 48455
New 9,000 sq. ft auto service building plus 6,000 sq. ft showroom on a site with extensive road frontage.
Property Size15,000 SF
Lot Size11.00 Acres
Price / SF$146.67
Days on Market167
Property Features for 3420 Lapeer
General Information
Standard status
Active
Size
15,000 SF
Lot size
11.00 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
3
Asphalt
1025434821658
Building Details
Year Built
20
Listing Agency:
@properties Christie's Int'l R E Rochester
(248) 505-2716
Listed By:
Kyle Matta · License #6501391152
(248) 505-2716
Source:
Xome
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 9 at 5:16AM
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 @properties Christie's Int'l R E Rochester
Investment Insights
Based on property information with market context.
This property offers a new 9,000 sq. ft auto service building and an additional 6,000 sq. ft showroom, designed to support flexible automotive operations. The site is described as an 11-acre parcel with room to accommodate a variety of business configurations, with the seller noting that splits may be possible.
The property is located off M-24 with over 500 feet of frontage, and it also provides additional 400+ feet of frontage off Pratt, offering multiple lines of approach. It is also described as minutes from I-69, supporting convenient access for customers and deliveries.
As presented, the combination of dedicated service space and a separate showroom provides a practical layout for businesses needing both vehicle service and on-site sales or display space.
The property is located off M-24 with over 500 feet of frontage, and it also provides additional 400+ feet of frontage off Pratt, offering multiple lines of approach. It is also described as minutes from I-69, supporting convenient access for customers and deliveries.
As presented, the combination of dedicated service space and a separate showroom provides a practical layout for businesses needing both vehicle service and on-site sales or display space.
Key Highlights
- 11‑acre site with 500+ ft frontage off M‑24 and an additional 400+ ft frontage off Pratt
- New 9,000 sq. ft auto service building
- 6,000 sq. ft showroom included
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
$103,446
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
4.70%
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%
$2,068,920
$2.1M
Cap Rate 7%
$1,477,800
$1.5M
Cap Rate 9%
$1,149,400
$1.1M
Market Conditions
NOI Build-Up for 15,000 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
$180.0K $12.00/SF
− Vacancy
−$32.2K −$2.15/SF
EGI
$147.8K $9.85/SF
− OpEx
−$44.3K −$2.96/SF
NOI
$103.4K $6.90/SF
Area
Lapeer County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$2,068,920
Cap Rate 7%
$1,477,800
Cap Rate 9%
$1,149,400
Alternative Uses
Best Use
Retail
$1.48M
$1.29M – $1.72M
NOI $103,446 @ 7.0% cap · market cap 4.70%
Second Best
Industrial
$1.21M
$1.06M – $1.42M
NOI $84,956 @ 7.0% cap · market cap 3.86%
Theoretical Best
Healthcare Medical
$2.46M
$2.15M – $2.87M
NOI $171,947 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,892 visits/mo
0.2 miles
Storage Rentals of America
Shops & Services
162 visits/mo
0.4 miles
Demographics for 48455, MI
8,166
Population
3,218
Households
2.5
Avg Household Size
49
Median Age
33%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
127
Density / Sq Mi
$97,060
Median Household Income
$52,512
Median Earnings
$1,202
Median Rent
$353,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Newcombs Auto Service — 3420 S Lapeer Rd, Metamora, MI 48455
- Advantage Automotive Inc. — 3740 S Lapeer Rd, Metamora, MI 48455
- Victory Service Centers — 3549 s lapeer rd suite 1, metamora, mi 48455
Frequently Asked Questions
What type of property is this?
Auto shop - New 9,000 sq. ft auto service building plus 6,000 sq. ft showroom on a site with extensive road frontage.
Where is this auto shop located?
The property is located at 3420 Lapeer Metamora, MI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 11‑acre site with 500+ ft frontage off M‑24 and an additional 400+ ft frontage off Pratt; New 9,000 sq. ft auto service building; 6,000 sq. ft showroom included
