Five-Bay Automotive
New
For Sale
$350,000
724 N Washington Ave, Saginaw, MI 48607
Established repair facility includes service areas, customer amenities, and extensive operating equipment.
Property Size4,000 SF
Price / SF$87.50
Days on Market2
Property Features for 724 N Washington Ave
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
200
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Service Bays
5
Amenities
customer waiting area
private office space
employee break room
bathroom
storage areas
security system
14-foot ceilings
Building Details
Buildings
1
Listing Agency:
Modern Realty
Listed By:
Judi Hughes · License #SBR
(989) 701-5511
Source:
Elliman
Added: Sep 12
Last Checked: Sep 12 at 2:30PM
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 Modern Realty
Investment Insights
Based on property information with market context.
The sale combines an operating automotive repair and transmission business with its associated real estate. The 4,000-square-foot commercial building measures 40' x 100' and contains five service bays with 14-foot ceilings. Interior areas include a customer waiting room, private office, employee break room, bathroom, and storage. Equipment conveys with the property, including four hoists, compressors, tire machines, an alignment rack, and additional automotive tools. New furnaces and a hot water tank have been installed, and the building has an existing security system.
The secured site is fully fenced and provides parking for up to 200 vehicles. The property is located at 724 N Washington Ave in Saginaw, near downtown and with highway access. The business has served the community for over 40 years and currently performs general repair, oil changes, exhaust work, and transmission services. Existing employees may be willing to continue with the operation.
The secured site is fully fenced and provides parking for up to 200 vehicles. The property is located at 724 N Washington Ave in Saginaw, near downtown and with highway access. The business has served the community for over 40 years and currently performs general repair, oil changes, exhaust work, and transmission services. Existing employees may be willing to continue with the operation.
Key Highlights
- 40' x 100' commercial building with 4,000 square feet
- Five service bays with 14‑foot ceilings
- Fully fenced site with parking for up to 200 vehicles
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
$29,792
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
8.51%
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%
$595,840
$595.8K
Cap Rate 7%
$425,600
$425.6K
Cap Rate 9%
$331,022
$331.0K
Market Conditions
NOI Build-Up for 4,000 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
$51.8K $12.96/SF
− Vacancy
−$9.3K −$2.32/SF
EGI
$42.6K $10.64/SF
− OpEx
−$12.8K −$3.19/SF
NOI
$29.8K $7.45/SF
Area
Saginaw County, MI
Vacancy
17.90%
Lease Rate
$12.96 /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%
$595,840
Cap Rate 7%
$425,600
Cap Rate 9%
$331,022
Alternative Uses
Best Use
Retail
$425.6K
$372.4K – $496.5K
NOI $29,792 @ 7.0% cap · market cap 8.51%
Second Best
Industrial
$298.0K
$260.7K – $347.6K
NOI $20,857 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$739.0K
$646.7K – $862.2K
NOI $51,732 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Service bays
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
24k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
13,184 visits/mo
0.1 miles
Huntington Bank
Shops & Services
5,226 visits/mo
0.3 miles
7-Eleven
Shops & Services
5,216 visits/mo
0.1 miles
Demographics for 48607, MI
1,456
Population
884
Households
1.6
Avg Household Size
44
Median Age
22%
College-Educated
79%
High-School Grad
1.0 sq mi
ZIP Area
1,456
Density / Sq Mi
$39,211
Median Household Income
$32,543
Median Earnings
$1,017
Median Rent
$44,500
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Scrap Metal Recycling — Scrap Metal, Saginaw, MI 48601
- Ken's General Repair Inc. — 400 W Remington St, Saginaw, MI 48602
- Hot Shots Transmissions — 1322 E Genesee Ave, Saginaw, MI 48607
- Mercy Sales — 834 S Washington Ave, Saginaw, MI 48601
- Mike's Tire and Custom Wheel — 1228 E Genesee Ave, Saginaw, MI 48607
Frequently Asked Questions
What type of property is this?
Auto shop - Established repair facility includes service areas, customer amenities, and extensive operating equipment.
Where is this auto shop located?
The property is located at 724 N Washington Ave Saginaw, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 40' x 100' commercial building with 4,000 square feet; Five service bays with 14‑foot ceilings; Fully fenced site with parking for up to 200 vehicles
