Auto Shop with Fabrication
New
For Sale
$349,900
Pending
121 Commerce Avenue, Lake Placid, FL 33852
A dedicated showroom and office complement the air-conditioned automotive work area.
Property Size5,000 SF
Days on Market2
Property Features for 121 Commerce Avenue
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Commercial
Additional Details
Outdoor Storage
Yes
Amenities
fully insulated
air-conditioned
12-ton unit
office/showroom
private bath
additional bath
shower
water fountain
covered entry
hurricane shutters
alarm system
Building Details
Year Built
1983
Construction
steel
Listing Agency:
Home Town Realty Pros
Listed By:
Matthew Christian · License #MCHRIS
(863) 414-8772
Source:
Flheritagegroup
Added: Oct 19
Last Checked: Oct 19 at 2:20PM
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 Home Town Realty Pros
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Investment Insights
Based on property information with market context.
This 100' x 50' auto shop occupies the middle unit of a red-iron steel building constructed in 1983. The interior is insulated and served by a 12-ton air-conditioning unit. A 30' x 24' office and showroom includes a private bathroom; the shop area has a second bathroom, shower and water fountain. Two roll-up doors measure 14' x 14' and 14' x 10', with outdoor storage space behind the unit and a covered entrance. Hurricane shutters are installed.
Equipment included in the sale consists of a two-post lift, building-wide pneumatic air system, engine hoist, parts-cleaning station, brake, press, bandsaw, vapor-blasting machine and other fabrication equipment. The owner is retaining personal tools, an Indy car, Formula items, memorabilia, one desk and some materials.
The property is approximately 20 minutes from Sebring International Raceway. The HOA provides water, lawn care, periodic building pressure washing, maintenance and repairs to the building, roof and common areas, and general liability coverage for common areas.
Equipment included in the sale consists of a two-post lift, building-wide pneumatic air system, engine hoist, parts-cleaning station, brake, press, bandsaw, vapor-blasting machine and other fabrication equipment. The owner is retaining personal tools, an Indy car, Formula items, memorabilia, one desk and some materials.
The property is approximately 20 minutes from Sebring International Raceway. The HOA provides water, lawn care, periodic building pressure washing, maintenance and repairs to the building, roof and common areas, and general liability coverage for common areas.
Key Highlights
- 100' x 50' middle unit in a red‑iron steel building, built in 1983
- Two roll‑up doors: 14' x 14' and 14' x 10'
- 30' x 24' office/showroom with private bathroom; separate shop bathroom and shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,862
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,240
$597.2K
Cap Rate 7%
$426,600
$426.6K
Cap Rate 9%
$331,800
$331.8K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$45.0K $9.00/SF
− Vacancy
−$2.3K −$0.47/SF
EGI
$42.7K $8.53/SF
− OpEx
−$12.8K −$2.56/SF
NOI
$29.9K $5.97/SF
Area
Highlands County, FL
Vacancy
5.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,240
Cap Rate 7%
$426,600
Cap Rate 9%
$331,800
Alternative Uses
Best Use
Retail
$671.3K
$587.4K – $783.1K
NOI $46,988 @ 7.0% cap · market cap 13.43%
Second Best
Industrial
$426.6K
$373.3K – $497.7K
NOI $29,862 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$1.04M
$910.2K – $1.21M
NOI $72,816 @ 7.0% cap · market cap 20.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
5,913 visits/mo
0.4 miles
Texaco
Shops & Services
5,386 visits/mo
0.4 miles
Demographics for 33852, FL
21,635
Population
12,991
Households
1.7
Avg Household Size
55
Median Age
20%
College-Educated
85%
High-School Grad
293.4 sq mi
ZIP Area
74
Density / Sq Mi
$54,841
Median Household Income
$39,658
Median Earnings
$1,063
Median Rent
$205,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- One Stop Body Repair Shop — 2906 Kenilworth Blvd, Sebring, FL 33870
- Angel's Auto Tech — 3927 Kenilworth Blvd, Sebring, FL 33870
- Southern shade window tint — 1320 Weigle Ave, Sebring, FL 33870
- Old English Motor Company — 1711 Lakeview Dr, Sebring, FL 33870
- Artistic Towing & Repair Inc — 1118 Weigle Ave, Sebring, FL 33870
Frequently Asked Questions
What type of property is this?
Auto shop - A dedicated showroom and office complement the air-conditioned automotive work area.
Where is this auto shop located?
The property is located at 121 Commerce Avenue Lake Placid, 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: 100' x 50' middle unit in a red‑iron steel building, built in 1983; Two roll‑up doors: 14' x 14' and 14' x 10'; 30' x 24' office/showroom with private bathroom; separate shop bathroom and shower
