Car Wash and Retail
1108 Commercial Way, Spring Hill, FL 34606
For Sale
New
$6,995,000
The offering combines an operating wash business with rental space occupied by multiple retail tenants.
Property Size22,217 SF
Lot Size2.60 Acres
Price / SF$314.85
Days on Market3
Property Features for 1108 Commercial Way
General Information
Standard status
Size
Lot size
Site & Location
Traffic Count
Highway Access
Road Access
Mixed-Use Components
Tenancy & Operations
Currently Operating
Tenant in Place
Real Estate Included
Additional Details
Business Included
Automotive Uses
Taxes and HOA fees
Annual Taxes
Amenities
monument signage
true
2
Public Records
Corner Lot,Landscaped,Oversized Lot,Shopping Center
Public
2.552
2.55
false
Common,Ground Level
Asphalt,Paved
Slab
County Road,Divided Highway,Highway,Main Throrughfare,State Road,Turn Lanes
22217
3
Public Maintained Road
1
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
(386) 284-2127
Listed By:
Brian Griffin
Source:
Thegriffindifference
Added: Nov 11
Last Checked: Nov 12 at 3:34AM
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 Brian Griffin
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Investment Insights
Based on property information with market context.
This mixed-use property pairs an established car wash business with a 22,217-square-foot retail center containing multiple tenants. The property was built in 1988 and is offered with both the real estate and the operating business.
Located at 1108 Commercial Way in Spring Hill, the site fronts US-19, where traffic exceeds 40,000 vehicles per day. Property features include monument signage and convenient access from the roadway.
Located at 1108 Commercial Way in Spring Hill, the site fronts US-19, where traffic exceeds 40,000 vehicles per day. Property features include monument signage and convenient access from the roadway.
Key Highlights
- 22,217‑square‑foot retail center with multiple tenants
- Established car wash business included in the offering
- More than 40,000 vehicles per day on US‑19
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$316,806
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,336,120
$6.3M
Cap Rate 7%
$4,525,800
$4.5M
Cap Rate 9%
$3,520,067
$3.5M
Market Conditions
NOI Build-Up for 22,217 SF
Gross rent
$453.2K $20.40/SF
− Vacancy
−$30.8K −$1.39/SF
EGI
$422.4K $19.01/SF
− OpEx
−$105.6K −$4.75/SF
NOI
$316.8K $14.26/SF
Area
Spring Hill, FL
Vacancy
6.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,336,120
Cap Rate 7%
$4,525,800
Cap Rate 9%
$3,520,067
Alternative Uses
Best Use
Specialty Retail
$4.53M
$3.96M – $5.28M
NOI $316,806 @ 7.0% cap · market cap 4.53%
Second Best
Retail
$4.09M
$3.58M – $4.77M
NOI $286,065 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$7.10M
$6.22M – $8.29M
NOI $497,227 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
40,000 VPD
Traffic count
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
188k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 28%
Electronics 14%
Groceries 11%
Best Buy
Electronics
25,556 visits/mo
0.5 miles
Cracker Barrel Old Country Store
Dining
21,888 visits/mo
0.4 miles
Aldi
Groceries
20,848 visits/mo
0.3 miles
Five Below
Shops & Services
17,218 visits/mo
0.5 miles
7-Eleven
Shops & Services
16,399 visits/mo
0.3 miles
Demographics for 34606, FL
28,548
Population
14,009
Households
2
Avg Household Size
53
Median Age
20%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
2,461
Density / Sq Mi
$54,730
Median Household Income
$33,778
Median Earnings
$1,192
Median Rent
$227,700
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines an operating wash business with rental space occupied by multiple retail tenants.
Where is this mixed-use property located?
The property is located at 1108 Commercial Way Spring Hill, FL.
What is the asking price?
The asking price for this property is $6,995,000.
What are key features of this property?
This property features: 22,217‑square‑foot retail center with multiple tenants; Established car wash business included in the offering; More than 40,000 vehicles per day on US‑19
