Heated Automotive Garage with
For Sale
$199,000
9449 GENESEE ST, New Lothrop, MI 48460
Fully heated garage and first-floor office with restrooms, plus two hydraulic lifts and three overhead doors.
Property Size2,464 SF
Price / SF$80.76
Days on Market24
Property Features for 9449 GENESEE ST
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Industrial
Additional Details
Drive-In Doors
3
Service Bays
2
Amenities
Central Air
3
4487
Building Details
Year Built
2013
Stories
2
Listing Agency:
Century 21 Signature Realty
(989) 239-5581
Listed By:
Ken Kujawa · License #6502333762
(989) 239-5581
Source:
Xome
Added: Jul 19
Changed: Aug 8
Last Checked: Aug 11 at 5:01AM
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 Century 21 Signature Realty
Investment Insights
Based on property information with market context.
This move-in ready automotive property offers over 2,400 sq. ft. of fully heated garage and office space, with updated interior and exterior lighting. The building includes a first-floor office, restroom, and an unfinished second-floor area that can be completed as additional office space or used for storage. Three overhead doors—one 14-foot door and two 10-foot doors—provide practical drive-through access for vehicles and equipment, and two hydraulic vehicle lifts are already in place.
Located at 9449 Genesee Street in New Lothrop, the facility is designed for day-to-day shop operations while keeping office space on-site for customer or administrative needs.
Internally, the configuration supports a service and repair workflow with overhead access for equipment, dedicated office space on the first floor, and flexible room on the second level depending on how it’s finished.
Located at 9449 Genesee Street in New Lothrop, the facility is designed for day-to-day shop operations while keeping office space on-site for customer or administrative needs.
Internally, the configuration supports a service and repair workflow with overhead access for equipment, dedicated office space on the first floor, and flexible room on the second level depending on how it’s finished.
Key Highlights
- 2013‑built commercial property with over 2,400 sq. ft. of fully heated garage and office space
- First‑floor office plus restroom; unfinished second‑floor space for additional office or storage
- Three overhead doors: one 14‑ft door and two 10‑ft doors for vehicle and equipment access
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
$18,020
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
9.06%
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%
$360,400
$360.4K
Cap Rate 7%
$257,429
$257.4K
Cap Rate 9%
$200,222
$200.2K
Market Conditions
NOI Build-Up for 2,464 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
$22.2K $9.00/SF
− Vacancy
−$976 −$0.40/SF
EGI
$21.2K $8.60/SF
− OpEx
−$3.2K −$1.29/SF
NOI
$18.0K $7.31/SF
Area
Shiawassee County, MI
Vacancy
4.40%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$360,400
Cap Rate 7%
$257,429
Cap Rate 9%
$200,222
Alternative Uses
Best Use
Retail
$365.4K
$319.7K – $426.3K
NOI $25,579 @ 7.0% cap · market cap 12.85%
Second Best
Warehouse
$257.4K
$225.3K – $300.3K
NOI $18,020 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$469.8K
$411.1K – $548.1K
NOI $32,884 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
2
Service bays
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48460, MI
2,341
Population
1,107
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
94%
High-School Grad
34.5 sq mi
ZIP Area
68
Density / Sq Mi
$81,146
Median Household Income
$51,842
Median Earnings
$713
Median Rent
$200,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Peterson Body Shop — 9501 Genesee St, New Lothrop, MI 48460
- Six T Automotive — 9449 Genesee St, New Lothrop, MI 48460
Frequently Asked Questions
What type of property is this?
Auto shop - Fully heated garage and first-floor office with restrooms, plus two hydraulic lifts and three overhead doors.
Where is this auto shop located?
The property is located at 9449 GENESEE ST New Lothrop, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2013‑built commercial property with over 2,400 sq. ft. of fully heated garage and office space; First‑floor office plus restroom; unfinished second‑floor space for additional office or storage; Three overhead doors: one 14‑ft door and two 10‑ft doors for vehicle and equipment access
