Auto Shop with Four
For Sale
$550,000
123 N 7th Street, Corsicana, TX 75110
COMMERCIAL - Corsicana, TX
Property Size3,312 SF
Price / SF$166.06
Days on Market158
Property Features for 123 N 7th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
BUSINESS
Security features
Security
Subdivision
CORSICANA OT
Lot features
Corner Lot
Directions
FROM I 45 SOUTH EXIT BUSINESS 45 TOWARDS CORSICANA PROPERTY ON LEFT 2 MILES NO SIGN ON PROPERTY
Standard status
Active
APN
C00000000600008000
Size
3,312 SF
Taxes and HOA fees
Tax Description
ACRES .660 LOT 8-12;13-17
Legal Description
ACRES .660 LOT 8-12;13-17
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
customer area
kitchen
Building Details
Year built
1995
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
AluminumSiding
Roof type
Metal
Listing Agency:
Ultima Real Estate
(972) 980-9393
Listed By:
Frank Ramirez · License #0581187
(972) 675-2763
Added: Mar 10
Changed: Aug 4
Last Checked: Aug 14 at 12:06PM
MLS# 20878961
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This auto shop offers approximately 3,312 SF of space for automotive service work, built in 1995 with aluminum siding and a metal roof. The interior includes concrete flooring and heating provided by electric heat with central HVAC cooling. The shop is equipped with four lifts, and one wheel alignment bay equipment conveys, supporting service-ready operations.
Set on a corner lot at 123 N 7th Street in Corsicana, TX, the property benefits from high-traffic visibility. The layout includes a very large customer area and a small kitchen.
Public water and public sewer services are in place, with the seller indicating central heating and cooling systems for comfort during day-to-day use.
Set on a corner lot at 123 N 7th Street in Corsicana, TX, the property benefits from high-traffic visibility. The layout includes a very large customer area and a small kitchen.
Public water and public sewer services are in place, with the seller indicating central heating and cooling systems for comfort during day-to-day use.
Key Highlights
- Approximately 3,312 SF auto shop with concrete floors, built in 1995
- Four lifts in the shop plus one wheel alignment bay equipment conveys
- High‑traffic corner lot on N 7th Street in Corsicana, TX
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
$21,243
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
3.86%
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%
$424,860
$424.9K
Cap Rate 7%
$303,471
$303.5K
Cap Rate 9%
$236,033
$236.0K
Market Conditions
NOI Build-Up for 3,312 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
$33.4K $10.08/SF
− Vacancy
−$3.0K −$0.92/SF
EGI
$30.3K $9.16/SF
− OpEx
−$9.1K −$2.75/SF
NOI
$21.2K $6.41/SF
Area
Navarro County, TX
Vacancy
9.10%
Lease Rate
$10.08 /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%
$424,860
Cap Rate 7%
$303,471
Cap Rate 9%
$236,033
Alternative Uses
Best Use
Retail
$785.3K
$687.2K – $916.2K
NOI $54,974 @ 7.0% cap · market cap 10.00%
Second Best
Industrial
$303.5K
$265.5K – $354.1K
NOI $21,243 @ 7.0% cap · market cap 3.86%
Theoretical Best
Multifamily LT 5
$36.39M
$31.84M – $42.45M
NOI $2,547,005 @ 7.0% cap · market cap 463.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Brutons Sardis Tire — 1219 S 7th St, Corsicana, TX 75110
- R.B. Tire Company — 1201 S 7th St, Corsicana, TX 75110
- C & L Garage — 101 S 20th St, Corsicana, TX 75110
- Speight Auto Glass — 610 W 7th Ave, Corsicana, TX 75110
- Bring Money trades — 313 E 14th Ave, Corsicana, TX 75110
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop on a high-traffic corner lot with four lifts and central air, plus a wheel alignment bay equipment included.
Where is this auto shop located?
The property is located at 123 N 7th Street Corsicana, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 3,312 SF auto shop with concrete floors, built in 1995; Four lifts in the shop plus one wheel alignment bay equipment conveys; High‑traffic corner lot on N 7th Street in Corsicana, TX
