Heated Automotive Repair
For Sale
$199,000
9449 GENESEE ST, New Lothrop, MI 48460
Functional commercial facility with vehicle service infrastructure, office space, and room for storage or future office expansion.
Property Size2,464 SF
Price / SF$80.76
Days on Market55
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
fully heated
updated interior and exterior lighting
first-floor office
restroom
unfinished second-floor space
three overhead doors
Central Air
3
4487
Building Details
Year Built
2013
Buildings
1
Stories
2
Listing Agency:
Century 21 Signature Realty
(989) 921-7000
Listed By:
Ken Kujawa · License #6502333762
(989) 239-5581
Source:
Xome
Added: Jul 18
Changed: Sep 9
Last Checked: Sep 9 at 3:32PM
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.
Built in 2013, this 2,464-square-foot automotive property combines heated garage space with office and service areas. The first floor includes an office and restroom, while an unfinished second level provides additional storage capacity or the option to create more office space. Updated interior and exterior lighting and central air add to the building’s functional setup.
Vehicle access is supported by three overhead doors: one measuring 14 feet and two measuring 10 feet. The property also includes two hydraulic vehicle lifts, offering established equipment for automotive repair, fabrication, or related service operations. Located at 9449 Genesee St in New Lothrop, Michigan, the facility is configured for an owner-user or service business seeking a dedicated commercial building.
Vehicle access is supported by three overhead doors: one measuring 14 feet and two measuring 10 feet. The property also includes two hydraulic vehicle lifts, offering established equipment for automotive repair, fabrication, or related service operations. Located at 9449 Genesee St in New Lothrop, Michigan, the facility is configured for an owner-user or service business seeking a dedicated commercial building.
Key Highlights
- 2,464 SF automotive property built in 2013
- Heated garage and office areas with central air
- Three overhead doors: one 14‑foot door and two 10‑foot doors
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
$14,949
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
7.51%
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%
$298,980
$299.0K
Cap Rate 7%
$213,557
$213.6K
Cap Rate 9%
$166,100
$166.1K
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
−$821 −$0.33/SF
EGI
$21.4K $8.67/SF
− OpEx
−$6.4K −$2.60/SF
NOI
$14.9K $6.07/SF
Area
Shiawassee County, MI
Vacancy
3.70%
Lease Rate
$9.00 /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%
$298,980
Cap Rate 7%
$213,557
Cap Rate 9%
$166,100
Alternative Uses
Best Use
Retail
$365.4K
$319.7K – $426.3K
NOI $25,579 @ 7.0% cap · market cap 12.85%
Second Best
Industrial
$213.6K
$186.9K – $249.2K
NOI $14,949 @ 7.0% cap · market cap 7.51%
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Six T Automotive — 9449 Genesee St, New Lothrop, MI 48460
- Peterson Body Shop — 9501 Genesee St, New Lothrop, MI 48460
Frequently Asked Questions
What type of property is this?
Auto shop - Functional commercial facility with vehicle service infrastructure, office space, and room for storage or future office expansion.
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: 2,464 SF automotive property built in 2013; Heated garage and office areas with central air; Three overhead doors: one 14‑foot door and two 10‑foot doors
