Established Auto Shop
For Sale
$825,000
4765 W River Dr NE, Comstock Park, MI 49321
C-2-zoned automotive property with an existing building and associated land offered for sale.
Property Size3,200 SF
Price / SF$257.81
Days on Market112
Property Features for 4765 W River Dr NE
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
25
Property subtype
Retail
Zoning
C-2
Additional Details
Business Included
Yes
Amenities
Power
Water
Sewer
Natural Gas
25 Parking Spaces
Building Details
Year Built
1960
Listing Agency:
Coldwell Banker Commercial Schmidt, REALTORS
(616) 813-3185
Listed By:
Bruce Johnson
(616) 813-3185
Source:
Carwm.resimplifi
Added: May 12
Changed: Aug 31
Last Checked: Aug 31 at 1:30AM
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 Commercial Schmidt, REALTORS
Investment Insights
Based on property information with market context.
This automotive property includes a 3,200-square-foot building constructed in 1960, along with the underlying land. The asset is positioned for continued auto-service use within a C-2 zoning designation.
The property is located at 4765 W River Dr NE in Comstock Park, Michigan. The offering includes the business, building, and land, with inventory handled separately.
The property is located at 4765 W River Dr NE in Comstock Park, Michigan. The offering includes the business, building, and land, with inventory handled separately.
Key Highlights
- 3,200‑square‑foot automotive building
- Constructed in 1960
- C‑2 zoning
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
$33,219
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
4.03%
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%
$664,380
$664.4K
Cap Rate 7%
$474,557
$474.6K
Cap Rate 9%
$369,100
$369.1K
Market Conditions
NOI Build-Up for 3,200 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
$49.5K $15.48/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$47.5K $14.83/SF
− OpEx
−$14.2K −$4.45/SF
NOI
$33.2K $10.38/SF
Area
Kent County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$664,380
Cap Rate 7%
$474,557
Cap Rate 9%
$369,100
Alternative Uses
Best Use
Retail
$474.6K
$415.2K – $553.7K
NOI $33,219 @ 7.0% cap · market cap 4.03%
Second Best
Industrial
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 1.81%
Theoretical Best
Office A
$572.3K
$500.8K – $667.7K
NOI $40,064 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
52k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 41%
Hotels & Casinos 7%
Beauty & Spa 2%
Circle K
Shops & Services
14,846 visits/mo
0.1 miles
Citgo
Shops & Services
11,371 visits/mo
0.4 miles
Wendy's
Dining
11,233 visits/mo
0.1 miles
BIGGBY COFFEE
Dining
5,391 visits/mo
0.3 miles
Comfort Suites
Hotels & Casinos
3,451 visits/mo
0.4 miles
Demographics for 49321, MI
16,764
Population
6,693
Households
2.5
Avg Household Size
36
Median Age
29%
College-Educated
91%
High-School Grad
26.3 sq mi
ZIP Area
637
Density / Sq Mi
$74,691
Median Household Income
$41,855
Median Earnings
$1,073
Median Rent
$244,300
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
- Mitten Tint Experts — 848 W River Center Dr NE, Comstock Park, MI 49321
- Brenner's Sporting Goods — 4765 W River Dr NE, Comstock Park, MI 49321
- Hankinsons' Radiator Shop — 4976 W River Dr NE, Comstock Park, MI 49321
- SFT Auto Sales — 5275 W River Ct NE, Comstock Park, MI 49321
- Magnum Auto Repair — 5210 W River Dr NE, Comstock Park, MI 49321
Frequently Asked Questions
What type of property is this?
Auto shop - C-2-zoned automotive property with an existing building and associated land offered for sale.
Where is this auto shop located?
The property is located at 4765 W River Dr NE Comstock Park, MI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,200‑square‑foot automotive building; Constructed in 1960; C‑2 zoning
