Automotive Service
New
For Sale
$1,699,999
105 NE 1st Rd, Homestead, FL 33030
Commercial Sale, Homestead, FL
Property Size4,160 SF
Lot Size0.34 Acres
Price / SF$408.65
Days on Market2
Property Features for 105 NE 1st Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6600
Subdivision
78
Standard status
Active
APN
10-79-18-008-0650
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
TOWN OF HOMESTEAD PB 4-33 LOTS 1 & 10 BLK 9 LOT SIZE 150.000 X 100 OR 11354-419 0282 1 COC 21964-3596 12 2003 5
Legal Description
TOWN OF HOMESTEAD PB 4-33 LOTS 1 & 10 BLK 9 LOT SIZE 150.000 X 100 OR 11354-419 0282 1 COC 21964-3596 12 2003 5
Amenities
office with mezzanine
Building Details
Year built
1976
Listing Agency:
The Keyes Company
(305) 247-7221
Listed By:
George Reyes · License #3382387
(305) 986-4747
Added: Sep 10
Last Checked: Sep 11 at 2:06PM
MLS# A12087060
Copyright © 2026 Miami REALTORS®. 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 automotive service property includes a 15,000 SF lot and a 4,160 SF building constructed in 1976 for repair operations. The layout provides 10 open service bays with approximately 14-foot clear height, along with more than 15 on-site parking spaces. A roughly 250 SF office with mezzanine adds administrative and storage functionality, and the building has completed its required recertification.
The property is located at 105 NE 1st Rd in Homestead, near the Downtown Historic District, Miami Dade College, US-1, City Hall, and the Homestead Police Department. The automotive operation has occupied the site for over 35 years. B-3 zoning supports commercial use flexibility, while the existing improvements provide an established setting for automotive service activity.
The property is located at 105 NE 1st Rd in Homestead, near the Downtown Historic District, Miami Dade College, US-1, City Hall, and the Homestead Police Department. The automotive operation has occupied the site for over 35 years. B-3 zoning supports commercial use flexibility, while the existing improvements provide an established setting for automotive service activity.
Key Highlights
- 15,000 SF lot improved with a 4,160 SF automotive service building
- 10 open service bays with approximately 14‑foot clear height
- More than 15 on‑site parking spaces
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
Lease Details
10
Service bays
Turnkey business
Opportunity
Yes
Highway access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Purpose-built automotive service property with B-3 zoning and an established operating history.
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: 15,000 SF lot improved with a 4,160 SF automotive service building; 10 open service bays with approximately 14‑foot clear height; More than 15 on‑site parking spaces
