Auto Shop Leasehold
For Sale
$1,607,800
511 S State Rd, Davison, MI 48423
For sale auto shop with a brand new 10-year lease renewal through September 2036.
Property Size6,772 SF
Price / SF$237.42
Days on Market116
Property Features for 511 S State Rd
General Information
Standard status
Active
Size
6,772 SF
Property subtype
Retail
Zoning
C-3
Building Details
Building Size
6,772 SF
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Deno Bistolarides · License #6502378067
(248) 702-0288
Source:
Cpix.resimplifi
Added: Jun 17
Changed: Oct 4
Last Checked: Oct 9 at 4:31PM
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 for-sale auto shop property is part of a newly renewed tenant agreement, with a 10-year extension currently in place and a lease expiration in September 2036. The asset is identified as an automotive retail/auto shop use within the provided property profile.
The property is located at 511 South State Road in Davison, Michigan (48423). No additional site specifics, such as building configuration, vehicle bays, frontage details, or on-site improvements beyond the lease renewal information, are provided in the available materials.
For investors and owner-operators evaluating automotive-focused real estate, the primary takeaway from the provided information is the extended lease term through September 2036 under the brand new renewal. The property’s classification as an auto shop/automotive property may align with tenants seeking a dedicated automotive retail setting, while buyers may value the reduced near-term rollover risk implied by the longer lease horizon described here. Please note that further underwriting details are not included in the supplied information.
The property is located at 511 South State Road in Davison, Michigan (48423). No additional site specifics, such as building configuration, vehicle bays, frontage details, or on-site improvements beyond the lease renewal information, are provided in the available materials.
For investors and owner-operators evaluating automotive-focused real estate, the primary takeaway from the provided information is the extended lease term through September 2036 under the brand new renewal. The property’s classification as an auto shop/automotive property may align with tenants seeking a dedicated automotive retail setting, while buyers may value the reduced near-term rollover risk implied by the longer lease horizon described here. Please note that further underwriting details are not included in the supplied information.
Key Highlights
- Auto shop building built in 2005
- Lease renewed for 10 years with lease expiration in September 2036
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,299
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,980
$1.4M
Cap Rate 7%
$1,004,271
$1.0M
Cap Rate 9%
$781,100
$781.1K
Market Conditions
NOI Build-Up for 6,772 SF
Gross rent
$104.8K $15.48/SF
− Vacancy
−$4.4K −$0.65/SF
EGI
$100.4K $14.83/SF
− OpEx
−$30.1K −$4.45/SF
NOI
$70.3K $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 Rate 5%
$1,405,980
Cap Rate 7%
$1,004,271
Cap Rate 9%
$781,100
Alternative Uses
Best Use
Retail
$1.00M
$878.7K – $1.17M
NOI $70,299 @ 7.0% cap · market cap 4.37%
Second Best
Industrial
$547.9K
$479.4K – $639.3K
NOI $38,355 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,751 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48423, MI
33,801
Population
15,248
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
524
Density / Sq Mi
$64,096
Median Household Income
$40,463
Median Earnings
$953
Median Rent
$209,400
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
- T&G Auto Glass Inc — 1146 S State Rd, Davison, MI 48423
- Todd Wenzel Buick GMC of Davison Quick Lube Center — 1146 S State Rd, Davison, MI 48423
- Todd Wenzel Buick GMC of Davison Service Department — 1146 S State Rd, Davison, MI 48423
- Todd Wenzel Buick GMC of Davison Parts Department — 1146 S State Rd, Davison, MI 48423
- Always Auto Glass — 1146 S State Rd, Davison, MI 48423
Frequently Asked Questions
What type of property is this?
Auto shop - For sale auto shop with a brand new 10-year lease renewal through September 2036.
Where is this auto shop located?
The property is located at 511 S State Rd Davison, MI.
What is the asking price?
The asking price for this property is $1,607,800.
What are key features of this property?
This property features: Auto shop building built in 2005; Lease renewed for 10 years with lease expiration in September 2036
