8858 Telegraph RdNewport, MI 48166

Property Details for 8858 Telegraph Rd

Year built

2005

Lot size

1.10 AC

Property size (Sq ft)

1,302 SF

Property type

Auto shops

APN

07-003-022-11

APU

700302211

Description

This exceptional investment opportunity presents a fully renovated, high-traffic car wash and oil change facility located at 8858 N Telegraph Rd, Newport, MI 48166. The property boasts 7,000 square feet across two single-story buildings on a 1.1-acre lot, built in 2005. The car wash features four self-serve bays and an automatic wash bay, all recently remodeled. The oil change tenant occupies a portion of the space and pays a triple-net lease of $2,000 per month. Two new compressors have been recently installed. The asking price is $1,500,000, representing $214.29 per square foot and $750,000 per unit. The property is situated in Monroe County, Michigan, in a high-traffic area along N Telegraph Rd, offering significant potential for continued growth and profitability. All measurements are approximate and should be independently verified. The property features a standard ownership structure and the APN is 580700302211. This is a turnkey operation ideal for an investor seeking a stable, income-generating asset in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $327,643

  6.5%

  $302,440

  7%

  $280,837

• Comparable approach

  Method

  Valuation

  Relative Method

  $306,908

  Geo Method

  $306,908

• Alternative Use

  Use

  Valuation

  Residential

  $255,120

  Hospitality

  $233,688

  Educational

  $194,426

  Medical

  $201,112

  Retail

  $302,440

Location Insight

City

Newport

County

Monroe

State

Michigan

Latitude

42.006

Longitude

-83.3542

CBSA code

33780

CBSA name

MONROE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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