Three-Bay Auto
New
For Sale
$735,000
3590 Chicago Dr, Hudsonville, MI 49426
Automotive facility with repair, detailing, and customer office areas.
Property Size2,028 SF
Price / SF$362.43
Days on Market7
Property Features for 3590 Chicago Dr
General Information
Standard status
Active
Size
2,028 SF
Property subtype
Retail
Zoning
MU
Site & Location
Traffic Count
25,000 vehicles/day
Road Access
Yes
Additional Details
Service Bays
3
Amenities
administrative office
Power
Building Details
Buildings
1
Listing Agency:
Rise Realty Group LLC
Listed By:
Chad Monroe
(616) 439-4653
Source:
Carwm.resimplifi
Added: Sep 9
Changed: Sep 14
Last Checked: Sep 14 at 2:40PM
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 Rise Realty Group LLC
Investment Insights
Based on property information with market context.
This automotive property is arranged for repair, detailing, and customer-facing operations. The facility has three service bays, including two mechanical bays equipped with vehicle lifts and a separate bay for detailing. A front office provides space for reception and administrative functions, supporting both service and sales activity.
Positioned on Chicago Drive in Hudsonville, the property benefits from frontage along a corridor reporting 25,000+ vehicles per day. The site includes convenient ingress and egress, while MU zoning supports its documented automotive commercial use. The existing bay layout and office component provide a functional setup for an auto shop, specialty repair operation, detailing business, or fleet maintenance use.
Positioned on Chicago Drive in Hudsonville, the property benefits from frontage along a corridor reporting 25,000+ vehicles per day. The site includes convenient ingress and egress, while MU zoning supports its documented automotive commercial use. The existing bay layout and office component provide a functional setup for an auto shop, specialty repair operation, detailing business, or fleet maintenance use.
Key Highlights
- Three total bays, including two mechanical repair bays and one dedicated detailing bay
- Two vehicle lifts included in the mechanical service area
- Front office configured for reception and administrative functions
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
$29,927
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
4.07%
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%
$598,540
$598.5K
Cap Rate 7%
$427,529
$427.5K
Cap Rate 9%
$332,522
$332.5K
Market Conditions
NOI Build-Up for 2,028 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
$43.8K $21.60/SF
− Vacancy
−$1.1K −$0.52/SF
EGI
$42.8K $21.08/SF
− OpEx
−$12.8K −$6.32/SF
NOI
$29.9K $14.76/SF
Area
Ottawa County, MI
Vacancy
2.40%
Lease Rate
$21.60 /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%
$598,540
Cap Rate 7%
$427,529
Cap Rate 9%
$332,522
Alternative Uses
Best Use
Industrial
$427.5K
$374.1K – $498.8K
NOI $29,927 @ 7.0% cap · market cap 4.07%
Second Best
Retail
$300.7K
$263.2K – $350.9K
NOI $21,052 @ 7.0% cap · market cap 2.86%
Theoretical Best
Multifamily LT 5
$25.22M
$22.07M – $29.42M
NOI $1,765,311 @ 7.0% cap · market cap 240.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Service bays
25,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
14k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
Pizza Ranch
Dining
7,167 visits/mo
0.2 miles
Mobil
Shops & Services
3,541 visits/mo
0.2 miles
Macatawa Bank
Shops & Services
2,547 visits/mo
0.2 miles
Muffler Man
Shops & Services
474 visits/mo
0.5 miles
Demographics for 49426, MI
40,467
Population
14,020
Households
2.9
Avg Household Size
36
Median Age
44%
College-Educated
98%
High-School Grad
60.3 sq mi
ZIP Area
671
Density / Sq Mi
$106,981
Median Household Income
$53,620
Median Earnings
$1,199
Median Rent
$338,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- Quick Oil Change Quaker State — 4674 32nd Ave, Hudsonville, MI 49426
- Performance Plus Quick Oil Change — 4674 32nd Ave, Hudsonville, MI 49426
- Tom's General Welding Inc — 3990 Chicago Dr, Hudsonville, MI 49426
- Dykstra's Auto - Hudsonville — 5180 37th Ave, Hudsonville, MI 49426
- WINDSHIELD GUYZ — 5235 park ave, hudsonville, mi 49426
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility with repair, detailing, and customer office areas.
Where is this auto shop located?
The property is located at 3590 Chicago Dr Hudsonville, MI.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Three total bays, including two mechanical repair bays and one dedicated detailing bay; Two vehicle lifts included in the mechanical service area; Front office configured for reception and administrative functions
