Automotive Service
For Sale
$700,000
4066 Division Avenue S, Wayland, MI 49348
Commercial Sale, Wayland, MI
Property Size11,084 SF
Lot Size2.52 Acres
Price / SF$63.15
Days on Market24
Property Features for 4066 Division Avenue S
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
7
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 6, Bathroom 4, Bathroom 2, Bathroom 7, Bathroom 1, Bathroom 5
Interior features
Broadband
Elementary school district
Wayland
Middle school district
Wayland
High school district
Wayland
Directions
Take US-131 to Exit 64 for 142nd Ave. Turn E onto 142nd Ave if coming from Grand Rapids. Turn South onto Division Ave S. Proceed south just past 140th Ave. Property on west side of road.
Standard status
Active
APN
13-019-009-00
Size
11,084 SF
Lot size
2.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM 65 RDS N OF SE COR SW 1/4 SEC 19 AS POB TH N 29 RDS W 14 RDS S 29 RD E 14 RDS TO BEG SEC 19 T4N R11W.
Tax Annual Amount
6190
Legal Description
COM 65 RDS N OF SE COR SW 1/4 SEC 19 AS POB TH N 29 RDS W 14 RDS S 29 RD E 14 RDS TO BEG SEC 19 T4N R11W.
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air, Window Unit(s)
Water source
Well
Building Details
Year built
1997
Building materials
Aluminum Siding, Vinyl Siding, Stone
Roof type
Metal, Composition
Listing Agency:
Coldwell Banker Woodland Schmidt Grand Haven
(616) 844-9000
Listed By:
Alec Peterson
(616) 610-0558
Added: Sep 3
Changed: Sep 16
Last Checked: Sep 26 at 1:06AM
MLS# 26047035
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 automotive property includes existing commercial buildings totaling 11,084 square feet on Division Avenue in Wayland. The improvements date to 1997 and feature aluminum, vinyl, and stone exterior materials, metal and composition roofing, forced-air heat, and a mix of central and window-unit cooling. Interior amenities include broadband, seven bathrooms, and natural gas availability, with water supplied by a well and wastewater handled by a septic tank.
Located at 4066 Division Avenue S, the property is near US-131, providing access toward Grand Rapids, Kalamazoo, and surrounding communities. Its established automotive retail and service history provides a documented foundation for continued automotive operations, while the existing commercial improvements may also accommodate retail, contractor, shop, warehouse, or other service-oriented uses identified for the property.
Located at 4066 Division Avenue S, the property is near US-131, providing access toward Grand Rapids, Kalamazoo, and surrounding communities. Its established automotive retail and service history provides a documented foundation for continued automotive operations, while the existing commercial improvements may also accommodate retail, contractor, shop, warehouse, or other service-oriented uses identified for the property.
Key Highlights
- 11,084‑square‑foot commercial property on Division Avenue in Wayland
- Established automotive retail and service history
- Near US‑131 with access toward Grand Rapids and Kalamazoo
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
$51,833
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
7.40%
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%
$1,036,660
$1.0M
Cap Rate 7%
$740,471
$740.5K
Cap Rate 9%
$575,922
$575.9K
Market Conditions
NOI Build-Up for 11,084 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
$76.3K $6.88/SF
− Vacancy
−$2.2K −$0.20/SF
EGI
$74.0K $6.68/SF
− OpEx
−$22.2K −$2.00/SF
NOI
$51.8K $4.68/SF
Area
Allegan County, MI
Vacancy
2.90%
Lease Rate
$6.88 /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%
$1,036,660
Cap Rate 7%
$740,471
Cap Rate 9%
$575,922
Alternative Uses
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $115,062 @ 7.0% cap · market cap 16.44%
Second Best
Industrial
$740.5K
$647.9K – $863.9K
NOI $51,833 @ 7.0% cap · market cap 7.40%
Theoretical Best
Hotel Hospitality
$104.09M
$91.08M – $121.44M
NOI $7,286,315 @ 7.0% cap · market cap 1,040.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49348, MI
14,989
Population
5,629
Households
2.7
Avg Household Size
36
Median Age
23%
College-Educated
94%
High-School Grad
65.7 sq mi
ZIP Area
228
Density / Sq Mi
$79,267
Median Household Income
$41,955
Median Earnings
$1,123
Median Rent
$247,200
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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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Auto shop - Existing commercial buildings with an established automotive retail and service history near US-131.
Where is this auto shop located?
The property is located at 4066 Division Avenue S Wayland, MI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 11,084‑square‑foot commercial property on Division Avenue in Wayland; Established automotive retail and service history; Near US‑131 with access toward Grand Rapids and Kalamazoo
