Three-Bay Automotive Service
New
For Sale
$735,000
3590 Chicago Drive, Hudsonville, MI 49426
Commercial Sale, Hudsonville, MI
Property Size2,028 SF
Lot Size0.34 Acres
Price / SF$362.43
Days on Market5
Property Features for 3590 Chicago Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking
40
Interior features
Broadband
Elementary school district
Hudsonville
Middle school district
Hudsonville
High school district
Hudsonville
Directions
32nd to chicago dr. Chicago dr to 36th. Building is on the south side of the road
Standard status
Active
APN
70-14-32-257-005
Size
2,028 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
PART LOT 33 COM 305 FT N OF SW COR TH E 150 FT, TH NW'LY 171 FT TO PT 459.5 FT N & 77 FT E OF SW COR, TH SW'LY ALG SERVI
Tax Annual Amount
6541
Legal Description
PART LOT 33 COM 305 FT N OF SW COR TH E 150 FT, TH NW'LY 171 FT TO PT 459.5 FT N & 77 FT E OF SW COR, TH SW'LY ALG SERVI
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1946
Number of units
1
Listing Agency:
Rise Realty Group
(616) 227-0744
Listed By:
Chad Monroe
(616) 439-4653
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 15 at 3:06AM
MLS# 26048816
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,028-square-foot automotive service property provides a practical layout for repair and detailing operations. The building contains three total bays, including two mechanical service bays equipped with two vehicle lifts and a separate bay designated for detailing. An administrative office supports customer reception and sales functions, while two bathrooms and a basement provide additional interior utility. Built in 1946, the property also includes forced-air heating, broadband, and cable availability.
Located at 3590 Chicago Drive in Hudsonville, the facility fronts a commercial corridor reporting approximately 25,000 vehicles per day. The site encompasses 0.34 acres and combines dedicated service areas with office and customer-facing space in a compact automotive-use configuration.
Located at 3590 Chicago Drive in Hudsonville, the facility fronts a commercial corridor reporting approximately 25,000 vehicles per day. The site encompasses 0.34 acres and combines dedicated service areas with office and customer-facing space in a compact automotive-use configuration.
Key Highlights
- 2,028 SF automotive service building on 0.34 acres
- Three total bays: two mechanical bays plus one detailing bay
- Two vehicle lifts included in the mechanical service area
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
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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
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Frequently Asked Questions
What type of property is this?
Auto shop - Configured with mechanical repair, detailing, customer reception, and sales areas for automotive service operations.
Where is this auto shop located?
The property is located at 3590 Chicago Drive 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: 2,028 SF automotive service building on 0.34 acres; Three total bays: two mechanical bays plus one detailing bay; Two vehicle lifts included in the mechanical service area
