Commercially Zoned Property For
For Sale
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684 Auburn Ave, Pontiac, MI 48342
Commercially zoned property, formerly a car wash, with redevelopment potential.
Property Size1,672 SF
Price / SF$89.71
Days on Market152
Property Features for 684 Auburn Ave
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Retail, Industrial, Special Purpose
Zoning
C-3 Corridor Commercial
Listing Agency:
REALTEAM Real Estate
Listed By:
Zachary Lewy · License #6501407954
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 8 at 6:39AM
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 REALTEAM Real Estate
Investment Insights
Based on property information with market context.
This commercially zoned property, designated as C-3 Corridor Commercial, offers an investment opportunity. Previously used as a self-serve car wash, the 1,672 square foot property is currently non-operational. It presents a redevelopment opportunity for investors, entrepreneurs, or developers to repurpose the site. The property's zoning allows for a variety of permitted uses.
Key Highlights
- High‑visibility commercial zoning (C‑3 Corridor Commercial).
- Excellent opportunity for repurposing or redevelopment.
- Blank slate property, formerly a self‑serve car wash.
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
$8,284
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
5.52%
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%
$165,680
$165.7K
Cap Rate 7%
$118,343
$118.3K
Cap Rate 9%
$92,044
$92.0K
Market Conditions
NOI Build-Up for 1,672 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
$12.3K $7.35/SF
− Vacancy
−$455 −$0.27/SF
EGI
$11.8K $7.08/SF
− OpEx
−$3.6K −$2.12/SF
NOI
$8.3K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$165,680
Cap Rate 7%
$118,343
Cap Rate 9%
$92,044
Alternative Uses
Best Use
Specialty Retail
$360.6K
$315.6K – $420.8K
NOI $25,245 @ 7.0% cap · market cap 16.83%
Second Best
Retail
$257.0K
$224.9K – $299.9K
NOI $17,991 @ 7.0% cap · market cap 11.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
3,635 visits/mo
0.1 miles
Demographics for 48342, MI
18,685
Population
7,559
Households
2.5
Avg Household Size
33
Median Age
10%
College-Educated
76%
High-School Grad
5.2 sq mi
ZIP Area
3,593
Density / Sq Mi
$33,750
Median Household Income
$29,970
Median Earnings
$851
Median Rent
$90,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Commercially zoned property, formerly a car wash, with redevelopment potential.
Where is this self service car wash located?
The property is located at 684 Auburn Ave Pontiac, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: High‑visibility commercial zoning (C‑3 Corridor Commercial).; Excellent opportunity for repurposing or redevelopment.; Blank slate property, formerly a self‑serve car wash.
