Automotive Repair
New
For Sale
$1,699,999
105 NE 1st Rd, Homestead, FL 33030
Purpose-built automotive service property with B-3 zoning, dedicated office space, and a recently passed required recertification.
Property Size4,160 SF
Days on Market2
Property Features for 105 NE 1st Rd
General Information
Standard status
Active
Size
4,160 SF
Property subtype
Industrial
Building Details
Building Size
4,160 SF
Year Built
1976
Listing Agency:
Keyes Company Realtors
Listed By:
George Reyes · License #3382387
(305) 986-4747
Source:
Elliman
Added: Sep 11
Last Checked: Sep 11 at 2:40PM
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 Keyes Company Realtors
Investment Insights
Based on property information with market context.
This automotive repair property includes a ±4,160 SF building on a 15,000 SF lot. The purpose-built service layout has 10 open bays with approximately 14-foot clear height, plus a ±250 SF office with mezzanine. More than 15 on-site parking spaces support daily operations, and the building recently passed its required recertification.
The property is located at 105 NE 1st Rd near Homestead’s Downtown Historic District, Miami Dade College, US-1, City Hall, and the Homestead Police Department. The automotive business has operated at this location for over 35 years. B-3 zoning provides a commercial designation for the existing automotive use and other supported commercial applications.
The property is located at 105 NE 1st Rd near Homestead’s Downtown Historic District, Miami Dade College, US-1, City Hall, and the Homestead Police Department. The automotive business has operated at this location for over 35 years. B-3 zoning provides a commercial designation for the existing automotive use and other supported commercial applications.
Key Highlights
- ±4,160 SF automotive service building on a 15,000 SF lot
- 10 open service bays with approximately 14‑foot clear height
- ±250 SF office with mezzanine
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
$70,342
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
4.14%
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%
$1,406,840
$1.4M
Cap Rate 7%
$1,004,886
$1.0M
Cap Rate 9%
$781,578
$781.6K
Market Conditions
NOI Build-Up for 4,160 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
$109.8K $26.40/SF
− Vacancy
−$9.3K −$2.24/SF
EGI
$100.5K $24.16/SF
− OpEx
−$30.1K −$7.25/SF
NOI
$70.3K $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /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%
$1,406,840
Cap Rate 7%
$1,004,886
Cap Rate 9%
$781,578
Alternative Uses
Best Use
Retail
$1.00M
$879.3K – $1.17M
NOI $70,342 @ 7.0% cap · market cap 4.14%
Second Best
Industrial
$641.6K
$561.4K – $748.5K
NOI $44,910 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,738 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,155
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33030, FL
36,776
Population
11,217
Households
3.3
Avg Household Size
33
Median Age
15%
College-Educated
61%
High-School Grad
17.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$43,231
Median Household Income
$28,214
Median Earnings
$1,307
Median Rent
$382,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Purpose-built automotive service property with B-3 zoning, dedicated office space, and a recently passed required recertification.
Where is this auto shop located?
The property is located at 105 NE 1st Rd Homestead, FL.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: ±4,160 SF automotive service building on a 15,000 SF lot; 10 open service bays with approximately 14‑foot clear height; ±250 SF office with mezzanine
