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    Versatile Commercial Property in High Springs Title is generated by Realmo AI

    18573 NW 246TH STREET, High Springs, FL 32643

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    For Sale
    $349,900

    Business - HIGH SPRINGS, FL

    Type:Business
    Property size:
    1,860 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $188/SF
    Added:
    Mar 17, 2026
    Days on Market:
    63
    Last Refresh:
    May 18 at 7:06 am

    Property Features for 18573 NW 246TH STREET

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Zoning
    C2
    Standard status
    Active
    APN
    00914-000-000
    Size
    1,860 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3890

    Utilities

    Heating system
    Central, Ductless (Heating), Exhaust Fan (Heating)
    Cooling system
    Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1987
    Flooring type
    Concrete, Linoleum
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    John Keller, III

    Listing agent John Keller, III License #3063732

    Listing office JACK KELLER INC 2440 West Bay Drive, Largo, FL

    Listing date Mar 17, 2026

    MLS# TB8487577 Listing URL

    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.

    HighLights

    • Two concrete block buildings totaling over 3,036 sq ft on a .34‑acre C2‑zoned commercial lot.
    • Brand‑new metal roof on both buildings (installed in 2025).
    • Oversized front customer parking area and expansive fenced‑in yard with asphalt parking.
    • Two buildings have separate electrical meters and street addresses.
    • Includes a 120 sq ft finished office, central AC in the main building, multiple air compressors, and a full‑sized paint booth.
    • Owner financing is available.

    Overview

    Located at 18573 NW 246th Street in High Springs, this commercial property offers significant potential. The property, situated on 0.34 acres, features two concrete block buildings totaling over 3,036 square feet, along with a 120 square foot finished office. The site includes an oversized front customer parking area and an expansive fenced-in yard with an asphalt parking area. The main building is equipped with central AC and multiple air compressors, and there is a full-sized paint booth. Previously used as an autobody repair shop and more recently as a warehouse, the property is zoned C2, making it suitable for various businesses. The two buildings have separate electrical meters and street addresses, providing flexibility. New metal roofs are planned for both buildings in 2025. The seller has a recent land survey available.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $225.6K
    NOI $20,300 @ 9.00% cap · cautious / downside scenario
    Moderate
    $290.0K
    NOI $20,300 @ 7.00% cap · market / base-case scenario
    Aggressive
    $406.0K
    NOI $20,300 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $31.7k $17.04
    − Vacancy −$2.7k −$1.45
    EGI $29.0k $15.59
    − OpEx −$8.7k −$4.68
    NOI $20.3k $10.91
    1,860 SF · lease $17.04/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $290.0K
    $253.8K – $338.3K (±1% cap)
    NOI $20,300 @ 7.0% cap · market cap 5.80%
    Second Best
    Warehouse
    $194.1K
    $169.9K – $226.5K (±1% cap)
    NOI $13,589 @ 7.0% cap · market cap 3.88%
    Theoretical Best
    Office A
    $468.9K
    $410.3K – $547.1K (±1% cap)
    NOI $32,824 @ 7.0% cap · market cap 9.38%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places 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

    Location Insight

    • Map
    • Local Demand
    City
    High Springs
    County
    Alachua
    State
    Florida
    Longitude
    -82.607012
    Latitude
    29.830874

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    FAQs

    What type of property is this?
    Auto shop - Two-building commercial property with C2 zoning and value-add potential.
    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: Two concrete block buildings totaling over 3,036 sq ft on a .34‑acre C2‑zoned commercial lot.; **Brand‑new metal roof on both buildings (installed in 2025).**; **Oversized front customer parking area and expansive fenced‑in yard with asphalt parking.**
    (727) 330-3010
    We can help!
    Listing Contact
    John Keller, III
    Real Estate License ID: 3063732
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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