Turnkey Auto Service
For Sale
Contact for pricing
6988 Cooley Lake Rd, Waterford, MI 48327
Turnkey oil change and automotive service business with proven monthly volume and established operations.
Property Size1,500 SF
Price / SF$130
Days on Market102
Property Features for 6988 Cooley Lake Rd
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Business for Sale
Zoning
Automotive
Investment Type
Stabilized
Net Operating Income
$84,000
Additional Details
Business Included
Yes
Building Details
Units
1
Tenancy
Single
Listing Agency:
RE/MAX Team 2000
Listed By:
Ali Shami · License #6501406990
(313) 701-9114
Source:
Crexi
Added: May 27
Changed: Aug 28
Last Checked: Sep 1 at 4:44AM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
Berry's Oil Exchange is a turnkey oil change and automotive service shop built around servicing approximately 200–250 vehicles per month. The operation is positioned as an absentee-owner model, with reported monthly profit of about $7,000. The business is described as generating estimated monthly gross revenues of $24,000–$30,000+ with average customer tickets between $100 and $120.
The property is located at 6988 Cooley Lake Rd in Waterford, Michigan, in a high-traffic area. The listed property size is 1,500 square feet, supporting the day-to-day service activity associated with an oil change and automotive maintenance business.
For buyers looking for a ready-to-run automotive services platform, this offering is presented as suitable for both owner-operators and investors who want to assume an established operation. With the current absentee-owner structure, prospective buyers can review the operational setup and staffing model as part of their transition planning.
The property is located at 6988 Cooley Lake Rd in Waterford, Michigan, in a high-traffic area. The listed property size is 1,500 square feet, supporting the day-to-day service activity associated with an oil change and automotive maintenance business.
For buyers looking for a ready-to-run automotive services platform, this offering is presented as suitable for both owner-operators and investors who want to assume an established operation. With the current absentee-owner structure, prospective buyers can review the operational setup and staffing model as part of their transition planning.
Key Highlights
- Established oil change and automotive service business in a high‑traffic area of Waterford, MI
- Services approximately 200–250 vehicles per month
- Average customer tickets of $100–$120
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
$16,141
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
8.28%
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%
$322,820
$322.8K
Cap Rate 7%
$230,586
$230.6K
Cap Rate 9%
$179,344
$179.3K
Market Conditions
NOI Build-Up for 1,500 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
$25.2K $16.80/SF
− Vacancy
−$2.1K −$1.43/SF
EGI
$23.1K $15.37/SF
− OpEx
−$6.9K −$4.61/SF
NOI
$16.1K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /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%
$322,820
Cap Rate 7%
$230,586
Cap Rate 9%
$179,344
Alternative Uses
Best Use
Retail
$230.6K
$201.8K – $269.0K
NOI $16,141 @ 7.0% cap · market cap 8.28%
Second Best
Industrial
$106.2K
$92.9K – $123.9K
NOI $7,432 @ 7.0% cap · market cap 3.81%
Theoretical Best
Specialty Retail
$323.5K
$283.1K – $377.5K
NOI $22,648 @ 7.0% cap · market cap 11.61%
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
167
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
2,953 visits/mo
0.3 miles
BP
Shops & Services
2,716 visits/mo
0.1 miles
Demographics for 48327, MI
21,811
Population
9,864
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
94%
High-School Grad
11.3 sq mi
ZIP Area
1,930
Density / Sq Mi
$75,512
Median Household Income
$46,259
Median Earnings
$1,058
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Pete's Auto Repair & Towing — 7135 Cooley Lake Rd, West Bloomfield Township, MI 48324
- Dick's Lawn Equipment Center — 7215 Cooley Lake Rd, West Bloomfield Township, MI 48324
- complete auto center pro — 6900 Cooley Lake Rd, Waterford Twp, MI 48327
- Berry's Oil Exchange - We feature Valvoline — 6988 Cooley Lake Rd #4110, Waterford Twp, MI 48327
- Abel Auto Inc — 6900 Cooley Lake Rd, Waterford Twp, MI 48327
Frequently Asked Questions
What type of property is this?
Auto shop - Turnkey oil change and automotive service business with proven monthly volume and established operations.
Where is this auto shop located?
The property is located at 6988 Cooley Lake Rd Waterford, MI.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Established oil change and automotive service business in a high‑traffic area of Waterford, MI; Services approximately 200–250 vehicles per month; Average customer tickets of $100–$120
