Current Use by Public Records
- Retail properties & Spaces
Property Details for 12xxx Fenkell St
- Property type
- Retail properties & Spaces
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a rare chance to acquire a fully operational auto and collision shop in Detroit, Michigan. The property, situated on an entire city block at 12xxx Fenkell, Detroit, MI 48227, boasts a substantial 23,523 square feet of space. Currently operating under a triple net (NNN) lease, the single-tenant building generates a monthly income of $2,500. The existing lease extends to February 2029, with an option to renew until February 2034 at a higher monthly rent of $3,200. The current tenant has expressed interest in a future land contract purchase, presenting a significant potential for future profit. The property is well-equipped for auto repair, featuring eight hoists, a paint booth, an AC machine, a tire machine, air compressors, and more. The asking price is $275,000, translating to $11.69 per square foot. This is a single-story building. The property is being sold as-is, where-is. This is a remarkable opportunity for investors seeking a strong cash flow and significant upside potential. The motivated seller is eager to finalize a transaction.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1885
- Latitude
- 42.4018
