Automotive Repair Shop with Lift
For Sale
$297,500
622 Upton Avenue, Springfield, MI 49037
Automotive repair facility includes three car lifts, four overhead doors, office A/C, and ample paved parking for 40+ vehicles.
Property Size3,892 SF
Days on Market213
Property Features for 622 Upton Avenue
General Information
Standard status
Active
Size
3,892 SF
Total Parking Spaces
40
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Service Bays
3
Taxes and HOA fees
Annual Taxes
$4,478
Amenities
bathroom with shower
half bathroom
air conditioning in office
washer and dryer
alarm system
large sign
Building Details
Building Size
3,892 SF
Year Built
1985
Units
1
Listing Agency:
Pearse Realty, Inc.
(269) 209-7372
Listed By:
Amy M Turley
(269) 209-7372
Source:
Phgrealty
Added: Jan 22
Changed: Aug 23
Last Checked: Aug 22 at 11:25AM
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 Pearse Realty, Inc.
Investment Insights
Based on property information with market context.
This automotive repair shop has been operating since 1998 and is offered for sale due to a planned retirement. The building was built as a service shop and used car lot in 1985. Updates include a new roof installed in 2020. On-site amenities include an office with A/C, washer and dryer, one full bath with shower, and one half bath. The shop is equipped with garage door operators on four overhead doors, three car lifts, an air compressor, and an alarm system.
Set on a corner at a high-traffic location, the property features a very large sign and ample paved parking for 40+ cars. The site includes over two acres with room for potential future expansion. Additional tools and equipment may be available, along with a client list and trusted business name.
Set on a corner at a high-traffic location, the property features a very large sign and ample paved parking for 40+ cars. The site includes over two acres with room for potential future expansion. Additional tools and equipment may be available, along with a client list and trusted business name.
Key Highlights
- Automotive repair shop operating since 1998, available due to future retirement
- Over 2 acres on a corner of a high‑traffic location with room for future expansion
- Three car lifts and an air compressor included in the service shop setup
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
$24,071
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
8.09%
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%
$481,420
$481.4K
Cap Rate 7%
$343,871
$343.9K
Cap Rate 9%
$267,456
$267.5K
Market Conditions
NOI Build-Up for 3,892 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
$36.9K $9.48/SF
− Vacancy
−$2.5K −$0.64/SF
EGI
$34.4K $8.84/SF
− OpEx
−$10.3K −$2.65/SF
NOI
$24.1K $6.18/SF
Area
Calhoun County, MI
Vacancy
6.80%
Lease Rate
$9.48 /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%
$481,420
Cap Rate 7%
$343,871
Cap Rate 9%
$267,456
Alternative Uses
Best Use
Retail
$577.2K
$505.0K – $673.4K
NOI $40,402 @ 7.0% cap · market cap 13.58%
Second Best
Industrial
$343.9K
$300.9K – $401.2K
NOI $24,071 @ 7.0% cap · market cap 8.09%
Theoretical Best
Healthcare Medical
$46.17M
$40.40M – $53.86M
NOI $3,231,781 @ 7.0% cap · market cap 1,086.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
5,809 visits/mo
0.3 miles
Marathon
Shops & Services
4,722 visits/mo
0.2 miles
Springfield Do It Center
Shops & Services
2,813 visits/mo
0.4 miles
Demographics for 49037, MI
21,427
Population
9,971
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
1,110
Density / Sq Mi
$42,598
Median Household Income
$32,024
Median Earnings
$843
Median Rent
$90,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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- Double E Auto Service — 1700 Goguac St W, Battle Creek, MI 49015
- B & B Fleet & Automotive — 2800 7th Ave, Battle Creek, MI 49037
- alfare auto sales inc — 196 n 20th st, springfield, mi 49037
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive repair facility includes three car lifts, four overhead doors, office A/C, and ample paved parking for 40+ vehicles.
Where is this auto shop located?
The property is located at 622 Upton Avenue Springfield, MI.
What is the asking price?
The asking price for this property is $297,500.
What are key features of this property?
This property features: Automotive repair shop operating since 1998, available due to future retirement; Over 2 acres on a corner of a high‑traffic location with room for future expansion; Three car lifts and an air compressor included in the service shop setup
