Automotive Property with Parking
4371 24th Avenue, Fort Gratiot, MI 48059
For Sale
New
$5,000,000
COM/IND/BUS OPP, Fort Gratiot, MI
Property Size22,118 SF
Lot Size3.20 Acres
Price / SF$226.06
Days on Market4
Property Features for 4371 24th Avenue
General Information
Property type
Property subtype
Zoning description
Parking features
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Real Estate Included
Automotive Uses
Utilities
Heating system
Water source
Building Details
Year built
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License MI #6502425251
(586) 873-5419
Added: Nov 10
Last Checked: Nov 13 at 11:06PM
MLS# 50227270
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Set on 3.2 acres, this automotive property includes a 22,118-square-foot building and a parking lot. The building dates to 1999, has forced-air heating, and is served by public water. The property was previously occupied by Pep Boys and is identified as a used car lot.
The site is across from Birchwood Mall on 24th Avenue in Fort Gratiot, Michigan.
The site is across from Birchwood Mall on 24th Avenue in Fort Gratiot, Michigan.
Key Highlights
- 22,118‑square‑foot building on 3.2 acres
- Automotive property identified as a used car lot
- Across from Birchwood Mall on 24th Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$285,918
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,718,360
$5.7M
Cap Rate 7%
$4,084,543
$4.1M
Cap Rate 9%
$3,176,867
$3.2M
Market Conditions
NOI Build-Up for 22,118 SF
Gross rent
$419.4K $18.96/SF
− Vacancy
−$10.9K −$0.49/SF
EGI
$408.5K $18.47/SF
− OpEx
−$122.5K −$5.54/SF
NOI
$285.9K $12.93/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,718,360
Cap Rate 7%
$4,084,543
Cap Rate 9%
$3,176,867
Alternative Uses
Best Use
Retail
$4.08M
$3.57M – $4.77M
NOI $285,918 @ 7.0% cap · market cap 5.72%
Second Best
Industrial
$1.85M
$1.62M – $2.16M
NOI $129,589 @ 7.0% cap · market cap 2.59%
Theoretical Best
Multifamily LT 5
$16.63M
$14.55M – $19.40M
NOI $1,163,930 @ 7.0% cap · market cap 23.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
481k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 25%
Dining 22%
Shops & Services 18%
Superstores 14%
Target
Superstores
67,758 visits/mo
0.3 miles
T.J. Maxx
Apparel
44,092 visits/mo
0.5 miles
Kohl's
Apparel
40,616 visits/mo
0.2 miles
Dunham's Sports
Apparel
32,311 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
26,196 visits/mo
0.3 miles
Demographics for 48059, MI
15,319
Population
7,324
Households
2.1
Avg Household Size
47
Median Age
30%
College-Educated
94%
High-School Grad
31.7 sq mi
ZIP Area
483
Density / Sq Mi
$78,841
Median Household Income
$44,716
Median Earnings
$956
Median Rent
$199,200
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
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 2896 Krafft Rd, Fort Gratiot Twp, MI 48059
- Fort Gratiot Self Storage — 2884 Krafft Rd, Fort Gratiot Twp, MI 48059
- Truck Rental Center at The Home Depot — Light House Point, 4195 24th Ave, Fort Gratiot Twp, MI 48059
Frequently Asked Questions
What type of property is this?
Automotive property - The site combines an existing building with outdoor parking across from Birchwood Mall.
Where is this automotive property located?
The property is located at 4371 24th Avenue Fort Gratiot, MI.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 22,118‑square‑foot building on 3.2 acres; Automotive property identified as a used car lot; Across from Birchwood Mall on 24th Avenue
