Leased Auto Shop
For Sale
Contact for pricing
5010 Miller Road, Flint, MI 48507
Brand new 10-year lease renewal provides a long-dated commitment through September 2036.
Property Size4,137 SF
Price / SF$294.83
Days on Market63
Property Features for 5010 Miller Road
General Information
Standard status
Active
Size
4,137 SF
Property subtype
Retail
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$76,230
Additional Details
Business Included
Yes
Building Details
Tenancy
Single
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0299
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Jun 10
Changed: Aug 10
Last Checked: Aug 11 at 7:36PM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
This automotive property is presented for sale with a brand new 10-year lease renewal. The current lease is scheduled to expire in September 2036, establishing a long-dated occupancy commitment tied to the existing lease structure.
The property is located at 5010 Miller Road in Flint Township, Michigan (48507). It is being marketed as a commercial automotive/auto shop asset under the renewed term, which can simplify planning for an ownership transition.
For buyers and investors, the primary consideration here is the lease duration extending to September 2036. That long timeline may appeal to those looking for an automotive-oriented asset with established leasing terms rather than near-term re-tenanting. For industry operators and brokers, the asset’s fit is straightforward: it is positioned as an auto shop/automotive use property that is already leased under a renewed agreement. Interested parties should review the full lease documents to confirm all terms tied to the renewal, including the exact lease commencement details and responsibilities under the agreement.
The property is located at 5010 Miller Road in Flint Township, Michigan (48507). It is being marketed as a commercial automotive/auto shop asset under the renewed term, which can simplify planning for an ownership transition.
For buyers and investors, the primary consideration here is the lease duration extending to September 2036. That long timeline may appeal to those looking for an automotive-oriented asset with established leasing terms rather than near-term re-tenanting. For industry operators and brokers, the asset’s fit is straightforward: it is positioned as an auto shop/automotive use property that is already leased under a renewed agreement. Interested parties should review the full lease documents to confirm all terms tied to the renewal, including the exact lease commencement details and responsibilities under the agreement.
Key Highlights
- Brand new 10‑year lease renewal with a lease expiration in September 2036
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
$42,946
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
3.52%
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%
$858,920
$858.9K
Cap Rate 7%
$613,514
$613.5K
Cap Rate 9%
$477,178
$477.2K
Market Conditions
NOI Build-Up for 4,137 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
$64.0K $15.48/SF
− Vacancy
−$2.7K −$0.65/SF
EGI
$61.4K $14.83/SF
− OpEx
−$18.4K −$4.45/SF
NOI
$42.9K $10.38/SF
Area
Genesee 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%
$858,920
Cap Rate 7%
$613,514
Cap Rate 9%
$477,178
Alternative Uses
Best Use
Retail
$613.5K
$536.8K – $715.8K
NOI $42,946 @ 7.0% cap · market cap 3.52%
Second Best
Industrial
$334.7K
$292.9K – $390.5K
NOI $23,431 @ 7.0% cap · market cap 1.92%
Theoretical Best
Office A
$870.5K
$761.7K – $1.02M
NOI $60,937 @ 7.0% cap · market cap 5.00%
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
190
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48507, MI
30,149
Population
13,923
Households
2.2
Avg Household Size
37
Median Age
15%
College-Educated
88%
High-School Grad
22.1 sq mi
ZIP Area
1,364
Density / Sq Mi
$47,165
Median Household Income
$31,346
Median Earnings
$923
Median Rent
$101,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Glass Gallery — 3341 Linden Rd, Flint, MI 48507
- Monro Auto Service And Tire Centers — 5010 Miller Rd, Flint, MI 48507
- Belle Tire — 4545 Miller Rd, Flint, MI 48507
- Auto Dent Quality/ Hail Damage Repair — 5154 Rhine Dr, Flint, MI 48507
- Premier Fleet Services — 5202 Commerce Rd, Flint, MI 48507
Frequently Asked Questions
What type of property is this?
Auto shop - Brand new 10-year lease renewal provides a long-dated commitment through September 2036.
Where is this auto shop located?
The property is located at 5010 Miller Road Flint, MI.
What is the asking price?
The asking price for this property is $1,219,700.
What are key features of this property?
This property features: Brand new 10‑year lease renewal with a lease expiration in September 2036
