Leased Auto Repair
New
For Sale
$189,000
4036 High St, Ecorse, MI 48229
Established automotive tenancy remains in place through May 31, 2029, with one additional five-year renewal option.
Property Size1,580 SF
Days on Market2
Property Features for 4036 High St
General Information
Standard status
Active
Size
1,580 SF
Property subtype
Commercial
Additional Details
Gross Income
$24,000
Taxes and HOA fees
Annual Taxes
$5,030
Building Details
Building Size
1,580 SF
Year Built
1926
Tenancy
Single
Listing Agency:
eXp Realty
(248) 617-7777
Listed By:
Joseph Sesi · License #6506048975
(248) 617-7777
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 4:51AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This auto shop at 4036 High St in Ecorse, Michigan, was built in 1926 and is occupied by an established auto repair tenant. The current lease runs through May 31, 2029, and includes one additional five-year renewal option extending through May 31, 2034.
The lease assigns utilities and several property-related responsibilities to the tenant, including exterior common-area maintenance, snow and ice removal, parking lot and sidewalk upkeep, and landscaping. The location has a Walk Score of 0, described as Somewhat Walkable, and a Bike Score of 50, described as Bikeable.
The lease assigns utilities and several property-related responsibilities to the tenant, including exterior common-area maintenance, snow and ice removal, parking lot and sidewalk upkeep, and landscaping. The location has a Walk Score of 0, described as Somewhat Walkable, and a Bike Score of 50, described as Bikeable.
Key Highlights
- Established auto repair tenant in place
- Current lease runs through May 31, 2029
- One additional five‑year renewal option through May 31, 2034
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
$14,971
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
7.92%
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%
$299,420
$299.4K
Cap Rate 7%
$213,871
$213.9K
Cap Rate 9%
$166,344
$166.3K
Market Conditions
NOI Build-Up for 1,580 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
$22.8K $14.40/SF
− Vacancy
−$1.4K −$0.86/SF
EGI
$21.4K $13.54/SF
− OpEx
−$6.4K −$4.06/SF
NOI
$15.0K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$299,420
Cap Rate 7%
$213,871
Cap Rate 9%
$166,344
Alternative Uses
Best Use
Retail
$213.9K
$187.1K – $249.5K
NOI $14,971 @ 7.0% cap · market cap 7.92%
Second Best
Industrial
$116.9K
$102.3K – $136.3K
NOI $8,180 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$292.5K
$256.0K – $341.3K
NOI $20,477 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
14k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Electronics 5%
Marathon Petroleum
Shops & Services
5,176 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,008 visits/mo
0.4 miles
Sunoco
Shops & Services
3,545 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
695 visits/mo
0.4 miles
Demographics for 48229, MI
9,258
Population
4,156
Households
2.2
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
2.8 sq mi
ZIP Area
3,306
Density / Sq Mi
$45,148
Median Household Income
$33,815
Median Earnings
$879
Median Rent
$59,300
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
- Ecorse Star Fast Lube Auto Cr — 148 southfield rd, ecorse, mi 48229
- J.B.'s Auto Repair — 239 Southfield Rd, Ecorse, MI 48229
- PACIFIC AUTO SALES & DELTA AUTO REPAIR — 160 southfield rd, ecorse, mi 48229
- 419 Auto Clinic and Customs — 160 southfield rd, ecorse, mi 48229
- Ecorse Quick Lube Center (QLC) — 40 Southfield Rd, Ecorse, MI 48229
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive tenancy remains in place through May 31, 2029, with one additional five-year renewal option.
Where is this auto shop located?
The property is located at 4036 High St Ecorse, MI.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Established auto repair tenant in place; Current lease runs through May 31, 2029; One additional five‑year renewal option through May 31, 2034
