Auto Shop Property With
For Sale
$2,200,000
3420 S Lapeer, Metamora, MI 48455
New service and showroom buildings provide flexible space for automotive operations near M-24 and I-69.
Property Size15,000 SF
Lot Size11.00 Acres
Price / SF$146.67
Days on Market356
Property Features for 3420 S Lapeer
General Information
Standard status
Active
Size
15,000 SF
Lot size
11.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2024
Buildings
2
Listing Agency:
@properties Christie's Int'l R E Rochester
(248) 505-2716
Listed By:
Kyle T Matta · License #6501391152
Source:
Vmrealestatemichigan
Added: Sep 7, 2025
Changed: Aug 27
Last Checked: Aug 25 at 8:08AM
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 11-acre automotive property at 3420 S Lapeer in Metamora includes a new 9,000-square-foot auto service building and a separate 6,000-square-foot showroom. The improvements provide distinct areas for service work, display, and business operations, with flexibility for a range of automotive uses.
The property is positioned near M-24 and within minutes of I-69. Frontage includes more than 500 feet along M-24, plus 400+ feet on Pratt, providing access from two roads. Parcel splits are possible, adding flexibility for future disposition or site planning.
The property is positioned near M-24 and within minutes of I-69. Frontage includes more than 500 feet along M-24, plus 400+ feet on Pratt, providing access from two roads. Parcel splits are possible, adding flexibility for future disposition or site planning.
Key Highlights
- 11 acre automotive property in Metamora, MI
- New 9K sq ft auto service building
- 6k sq ft showroom
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
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 30%
Sunoco
Shops & Services
11,866 visits/mo
0.0 miles
BIGGBY COFFEE
Dining
4,169 visits/mo
0.1 miles
Hungry Howie's Pizza
Dining
978 visits/mo
0.2 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
- Advantage Automotive Inc. — 3740 S Lapeer Rd, Metamora, MI 48455
- Victory Service Centers — 3549 s lapeer rd suite 1, metamora, mi 48455
- Newcombs Auto Service — 3420 S Lapeer Rd, Metamora, MI 48455
Frequently Asked Questions
What type of property is this?
Auto shop - New service and showroom buildings provide flexible space for automotive operations near M-24 and I-69.
Where is this auto shop located?
The property is located at 3420 S 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 automotive property in Metamora, MI; New 9K sq ft auto service building; 6k sq ft showroom
