Automotive Service
New
For Sale
$700,000
4066 Division Avenue, Wayland, MI 49348
Commercial buildings with storage space along Division Avenue near US-131, supporting automotive and other service-oriented operations.
Property Size11,084 SF
Price / SF$63.15
Days on Market7
Property Features for 4066 Division Avenue
General Information
Standard status
Active
Size
11,084 SF
Property subtype
Business Opportunities
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,190
Amenities
Metal, Composition
486x230x487x231
Storage Area.
Building Details
Year Built
1997
Listing Agency:
(616) 844-9000
Listed By:
Coldwell Banker Woodland Schmidt Grand Haven
(616) 610-0558
Source:
Xome
Added: Aug 31
Changed: Sep 5
Last Checked: Sep 6 at 5:32AM
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 Coldwell Banker Woodland Schmidt Grand Haven
Investment Insights
Based on property information with market context.
This 11,084-square-foot automotive service property includes existing commercial buildings and an adjacent 9-acre parcel. Constructed in 1997, the asset includes a storage area and metal and composition exterior materials. Its established automotive retail and service background provides a foundation for continued automotive use or other commercial applications identified in the property information, including retail, contractor or shop space, warehouse, and service businesses.
The property is situated along Division Avenue in Wayland, with access to US-131 and regional connections toward Grand Rapids, Kalamazoo, and surrounding communities. The sale includes the existing improvements and adjacent land, creating a larger commercial footprint for an owner-user, investor, or entrepreneur.
The property is situated along Division Avenue in Wayland, with access to US-131 and regional connections toward Grand Rapids, Kalamazoo, and surrounding communities. The sale includes the existing improvements and adjacent land, creating a larger commercial footprint for an owner-user, investor, or entrepreneur.
Key Highlights
- 11,084‑square‑foot commercial property
- Adjacent 9‑acre parcel included in the sale
- Automotive retail and service history
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
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial buildings with storage space along Division Avenue near US-131, supporting automotive and other service-oriented operations.
Where is this auto shop located?
The property is located at 4066 Division Avenue 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; Adjacent 9‑acre parcel included in the sale; Automotive retail and service history
