Auto Shop with Heavy
For Sale
$775,000
74130 Fulton Street, Armada, MI 48005
COMMERCIAL - Armada, MI
Property Size9,213 SF
Lot Size0.27 Acres
Price / SF$84.12
Days on Market912
Property Features for 74130 Fulton Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Mixed Use
Parking features
Parking Lot
Subdivision
A/P # 04 Armada Vill
Lot features
Main Street
Standard status
Active
APN
25-02-24-155-018
Size
9,213 SF
Lot size
0.27 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1948
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Alexander Termini · License #6501392648
(586) 291-0499
Added: Feb 12, 2024
Changed: Aug 6
Last Checked: Aug 12 at 1:06PM
MLS# 50133298
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property offers an operating auto business setup, including the equipment and the building. The building has undergone many updates, and the property is described as having heavy power to support automotive work. An equipment list is available upon request, which can help buyers and brokers understand what is included with the sale.
Located in downtown Armada at 74130 Fulton Street, the property is positioned for customer-facing activity with great frontage. The combination of a dedicated automotive facility and a visible, street-facing presence can be helpful for buyers seeking an auto-focused location.
For automotive operators and investors, the key advantage here is the turnkey nature of the offering: the building is already arranged and supported for an auto business, with updated improvements and heavy power noted as part of the property. Buyers interested in continuing similar operations may find the included equipment and available inventory list particularly practical when assessing transition and ongoing use.
Located in downtown Armada at 74130 Fulton Street, the property is positioned for customer-facing activity with great frontage. The combination of a dedicated automotive facility and a visible, street-facing presence can be helpful for buyers seeking an auto-focused location.
For automotive operators and investors, the key advantage here is the turnkey nature of the offering: the building is already arranged and supported for an auto business, with updated improvements and heavy power noted as part of the property. Buyers interested in continuing similar operations may find the included equipment and available inventory list particularly practical when assessing transition and ongoing use.
Key Highlights
- Operating auto business with equipment and the building included
- Downtown location with great frontage
- Many updates to the building and listed as having heavy power
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
$68,102
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
8.79%
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%
$1,362,040
$1.4M
Cap Rate 7%
$972,886
$972.9K
Cap Rate 9%
$756,689
$756.7K
Market Conditions
NOI Build-Up for 9,213 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
$110.6K $12.00/SF
− Vacancy
−$13.3K −$1.44/SF
EGI
$97.3K $10.56/SF
− OpEx
−$29.2K −$3.17/SF
NOI
$68.1K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /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%
$1,362,040
Cap Rate 7%
$972,886
Cap Rate 9%
$756,689
Alternative Uses
Best Use
Retail
$972.9K
$851.3K – $1.14M
NOI $68,102 @ 7.0% cap · market cap 8.79%
Second Best
Industrial
$709.7K
$621.0K – $828.0K
NOI $49,678 @ 7.0% cap · market cap 6.41%
Theoretical Best
Specialty Retail
$1.72M
$1.51M – $2.01M
NOI $120,738 @ 7.0% cap · market cap 15.58%
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
205
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48005, MI
5,318
Population
1,869
Households
2.8
Avg Household Size
46
Median Age
31%
College-Educated
96%
High-School Grad
36.5 sq mi
ZIP Area
146
Density / Sq Mi
$110,946
Median Household Income
$53,574
Median Earnings
$1,141
Median Rent
$294,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Updated auto shop with equipment included and heavy electrical service for automotive operations in a downtown setting.
Where is this auto shop located?
The property is located at 74130 Fulton Street Armada, MI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Operating auto business with equipment and the building included; Downtown location with great frontage; Many updates to the building and listed as having heavy power
