Two-Building Auto Shop
For Sale
Under Contract
$349,900
18573 NW 246TH Street, High Springs, FL 32643
COMMERCIAL - HIGH SPRINGS, FL
Property Size1,860 SF
Lot Size0.34 Acres
Price / SF$188.12
Days on Market153
Property Features for 18573 NW 246TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Subdivision
G M WHETSTONE ESTATE ADD TO H S
Directions
FROM I-75: Take Exit 390, drive west on NW 39th Ave, turn right onto NW 143rd St/CR-241, turn left onto US-441 N/SR-25 through High Springs, then turn left onto NW 246th St to reach 18573 NW 246th St.
Standard status
Active Under Contract
APN
00914-000-000
Size
1,860 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
G E FOSTER ADDN PB A-6 LOT 5 BK 117 OR 5185/2904
Tax Annual Amount
3890
Legal Description
G E FOSTER ADDN PB A-6 LOT 5 BK 117 OR 5185/2904
Utilities
Utilities
Phone Available
Heating system
Central, Exhaust Fan (Heating), Ductless (Heating)
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Amenities
central AC in main building
multiple air compressors
full-sized paint booth
oversized front customer parking area
asphalt parking area
Building Details
Year built
1987
Flooring type
Linoleum, Concrete
Building materials
Block
Listing Agency:
JACK KELLER INC
(727) 586-1497
Listed By:
John Keller, III · License #260015123
(727) 586-1497
Added: Mar 17
Changed: Aug 13
Last Checked: Aug 16 at 7:06PM
MLS# TB8487577
Copyright © 2026 Stellar MLS. 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.
Two concrete block buildings totaling 3,036+ square feet support auto repair and light industrial use on a .34-acre C2-zoned site at 18573 NW 246TH Street in High Springs, FL 32643. The property includes a 120 square foot finished office, an oversized front customer parking area, and a fenced-in yard with an asphalt parking area. The main building has central A/C, along with multiple air compressors and a full-sized paint booth.
The buildings have separate street addresses and electrical meters, providing operational flexibility. A brand-new metal roof was installed on both buildings in 2025. Flooring includes linoleum and concrete, and the property offers multiple heating and cooling options such as central air, window or wall/window units, ductless heating, and an exhaust fan.
The seller is in possession of a recent land survey, and utilities listed include phone availability. Owner financing is available.
The buildings have separate street addresses and electrical meters, providing operational flexibility. A brand-new metal roof was installed on both buildings in 2025. Flooring includes linoleum and concrete, and the property offers multiple heating and cooling options such as central air, window or wall/window units, ductless heating, and an exhaust fan.
The seller is in possession of a recent land survey, and utilities listed include phone availability. Owner financing is available.
Key Highlights
- .34‑acre C2‑zoned auto shop site in High Springs
- Two concrete block buildings totaling 3,036+ SF
- 120 SF finished office
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
$20,300
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
5.80%
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%
$406,000
$406.0K
Cap Rate 7%
$290,000
$290.0K
Cap Rate 9%
$225,556
$225.6K
Market Conditions
NOI Build-Up for 1,860 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
$31.7K $17.04/SF
− Vacancy
−$2.7K −$1.45/SF
EGI
$29.0K $15.59/SF
− OpEx
−$8.7K −$4.68/SF
NOI
$20.3K $10.91/SF
Area
Alachua County, FL
Vacancy
8.50%
Lease Rate
$17.04 /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%
$406,000
Cap Rate 7%
$290,000
Cap Rate 9%
$225,556
Alternative Uses
Best Use
Retail
$290.0K
$253.8K – $338.3K
NOI $20,300 @ 7.0% cap · market cap 5.80%
Second Best
Warehouse
$194.1K
$169.9K – $226.5K
NOI $13,589 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$468.9K
$410.3K – $547.1K
NOI $32,824 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32643, FL
12,549
Population
4,487
Households
2.8
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
112.1 sq mi
ZIP Area
112
Density / Sq Mi
$69,871
Median Household Income
$40,458
Median Earnings
$1,515
Median Rent
$254,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Solutions SP — 19007 NW US Hwy 441, High Springs, FL 32643
- Windshield Replacement & Repair of High Springs — 160 high springs main st, high springs, fl 32643
- Droptop Challenger — 23791 Railroad Ave, High Springs, FL 32643
- Craft auto parts — 18788 High Springs Main St, High Springs, FL 32643
- Auto ER at High Springs City Boys Tire, Brake, & Repair — 18788 High Springs Main St, High Springs, FL 32643
Frequently Asked Questions
What type of property is this?
Auto shop - Two concrete block buildings with central A/C and a finished office, zoned C2 in High Springs.
Where is this auto shop located?
The property is located at 18573 NW 246TH Street High Springs, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: .34‑acre C2‑zoned auto shop site in High Springs; Two concrete block buildings totaling 3,036+ SF; 120 SF finished office
