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4036 High St
Ecorse, MI 48229
V.I.P Grease Auto Care · Retail Property For Sale
Investment Highlights
- 9.52% Cap Rate based on current income and stated operating expenses
- Tenant Occupied with established auto repair business in place
- $18,000 NOI with $24,000 in annual gross rental income
Executive Summary
Investment opportunity featuring an established auto repair tenant in place. Property is currently leased at $2,000 per month ($24,000 annually) through May 31, 2029. Tenant has one additional five-year renewal option through May 31, 2034 at $2,100 per month. Tenant is responsible for utilities and significant maintenance obligations, including exterior common-area maintenance, snow and ice removal, parking lots, sidewalks, and landscaping. Existing lease provides immediate rental income for an investor. Please contact listing agent for additional property and lease information. Do not disturb tenant.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
1,225 SF
Building Class
C
Year Built
1950
Price
$189,000
Price Per SF
$154.29
Cap Rate
9.50%
NOI
$17,955
Percent Leased
100%
Building Height
1 Story
Building FAR
0.16
Lot Size
0.18 AC
Zoning
Commercial - Auto
Frontage
Property Taxes
| Parcel Number | 34-006-03-0027-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $44,700 |
Property Taxes
Parcel Number
34-006-03-0027-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$44,700
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