Automotive Shop with Spray
New
For Sale
$389,000
10 N MAIN, Chiefland, FL 32626
C-1 and C-2 commercial zoning supports automotive, retail, office, and service-oriented uses subject to local regulations.
Property Size2,352 SF
Lot Size0.32 Acres
Price / SF$135.07
Days on Market2
Property Features for 10 N MAIN
General Information
Standard status
Active
Size
2,352 SF
Lot size
0.32 Acres
Property subtype
Commercial
Zoning
C-1 and C-2
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Service Bays
4
Taxes and HOA fees
Annual Taxes
$1,858
Amenities
fenced rear yard
air-conditioned office
carport
automotive spray booth
Building Details
Building Size
2,352 SF
Year Built
1950
Buildings
1
Listing Agency:
Smith & Lancaster Inc DBA United Country Smith & Associates
Listed By:
Sarah Eastman · License #3552386
(352) 339-4812
Source:
Elliman
Added: Sep 4
Last Checked: Sep 4 at 3:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Smith & Lancaster Inc DBA United Country Smith & Associates
Investment Insights
Based on property information with market context.
This 2,880-square-foot automotive shop occupies approximately 0.32 acres at 10 N MAIN in Chiefland. The building contains four service bays, including a 12' x 24' semi-down-draft spray booth, plus two rear roll-up doors. An air-conditioned office and multi-use area provides space for administration, reception, storage, or additional work functions. The property also includes three bathrooms, with two currently functional, and a carport.
Shop infrastructure includes air and water lines throughout the building, with additional lines extending outdoors. The fenced rear yard offers outdoor operating space, while 100 foot of rear alley access and multiple access points support circulation. The property has 200 foot of road frontage and is served by city water and sewer.
C-1 and C-2 zoning allows a range of commercial applications, including automotive repair, paint operations, parts sales, offices, retail, restaurants, storage, and other uses subject to applicable city requirements. Included equipment consists of the spray booth and air compressors.
Shop infrastructure includes air and water lines throughout the building, with additional lines extending outdoors. The fenced rear yard offers outdoor operating space, while 100 foot of rear alley access and multiple access points support circulation. The property has 200 foot of road frontage and is served by city water and sewer.
C-1 and C-2 zoning allows a range of commercial applications, including automotive repair, paint operations, parts sales, offices, retail, restaurants, storage, and other uses subject to applicable city requirements. Included equipment consists of the spray booth and air compressors.
Key Highlights
- 2,880‑square‑foot building on approximately 0.32 acres
- Four service bays, including a 12' x 24' semi‑down‑draft spray booth
- 200 foot of road frontage and 100 foot of rear alley access
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
$30,536
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
7.85%
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%
$610,720
$610.7K
Cap Rate 7%
$436,229
$436.2K
Cap Rate 9%
$339,289
$339.3K
Market Conditions
NOI Build-Up for 2,880 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
$46.7K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.6K $15.15/SF
− OpEx
−$13.1K −$4.54/SF
NOI
$30.5K $10.60/SF
Area
Levy County, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$610,720
Cap Rate 7%
$436,229
Cap Rate 9%
$339,289
Alternative Uses
Best Use
Retail
$436.2K
$381.7K – $508.9K
NOI $30,536 @ 7.0% cap · market cap 7.85%
Second Best
Industrial
$279.1K
$244.2K – $325.6K
NOI $19,535 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$713.3K
$624.2K – $832.2K
NOI $49,932 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
9k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Home Improvements & Furnishings 9%
Beauty & Spa 8%
Marathon
Shops & Services
4,411 visits/mo
0.5 miles
Citgo
Shops & Services
2,862 visits/mo
0.3 miles
City Electric Supply
Home Improvements & Furnishings
762 visits/mo
0.1 miles
Merle Norman Cosmetic Studio
Beauty & Spa
709 visits/mo
0.1 miles
Demographics for 32626, FL
8,620
Population
4,358
Households
2
Avg Household Size
47
Median Age
13%
College-Educated
89%
High-School Grad
243.6 sq mi
ZIP Area
35
Density / Sq Mi
$49,643
Median Household Income
$34,057
Median Earnings
$844
Median Rent
$160,900
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - C-1 and C-2 commercial zoning supports automotive, retail, office, and service-oriented uses subject to local regulations.
Where is this auto shop located?
The property is located at 10 N MAIN Chiefland, FL.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 2,880‑square‑foot building on approximately 0.32 acres; Four service bays, including a 12' x 24' semi‑down‑draft spray booth; 200 foot of road frontage and 100 foot of rear alley access
