Established Auto Repair Shop For
For Sale
$1,595,000
715 WEST WATERS AVENUE, Tampa, FL 33604
Auto repair shop on 0.46 acres with owner financing.
Property Size4,000 SF
Lot Size0.46 Acres
Price / SF$398.75
Days on Market1278
Property Features for 715 WEST WATERS AVENUE
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.46 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,986
Amenities
Corner Lot
Metal Roof
Pool
Public Pool
Central Business District
Paved
Building Details
Year Built
1998
Listing Agency:
RE/MAX SUNSET REALTY
(727) 863-2402
Listed By:
FRANK FEKETE, LLC · License #3039291
(727) 534-4871
Source:
Corcoran
Added: Mar 6, 2023
Changed: Sep 4
Last Checked: Sep 4 at 9:38AM
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 RE/MAX SUNSET REALTY
Investment Insights
Based on property information with market context.
The property at 715 W WATERS AVE is an established custom exhaust auto repair shop for sale. The real estate consists of 4176 square feet under roof on 0.46 acres. The fenced property features 5 bays, 4 exterior lifts, a sales office, bathrooms, a storage room/area, and signage. The sale includes all inventory and equipment, excluding mechanics' personal tools. The property is zoned Commercial General. The business is available for sale separately. Owner financing is available. The property has great visibility on a main thoroughfare in Tampa, Florida.
Key Highlights
- Established auto repair shop with high visibility on a main thoroughfare.
- Includes real estate: 4176 SF building on 0.46 acres.
- Equipped with 5 bays and 4 exterior lifts.
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
$48,581
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
3.05%
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%
$971,620
$971.6K
Cap Rate 7%
$694,014
$694.0K
Cap Rate 9%
$539,789
$539.8K
Market Conditions
NOI Build-Up for 4,000 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
$73.4K $18.36/SF
− Vacancy
−$4.0K −$1.01/SF
EGI
$69.4K $17.35/SF
− OpEx
−$20.8K −$5.21/SF
NOI
$48.6K $12.15/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /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%
$971,620
Cap Rate 7%
$694,014
Cap Rate 9%
$539,789
Alternative Uses
Best Use
Industrial
$694.0K
$607.3K – $809.7K
NOI $48,581 @ 7.0% cap · market cap 3.05%
Second Best
Retail
$680.4K
$595.4K – $793.8K
NOI $47,628 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$931.9K
$815.4K – $1.09M
NOI $65,232 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
153k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 44%
Apparel 4%
Electronics 2%
Wawa
Shops & Services
50,492 visits/mo
0.4 miles
McDonald's
Dining
24,064 visits/mo
0.4 miles
Krispy Kreme Doughnuts
Dining
14,586 visits/mo
0.4 miles
Wendy's
Dining
14,335 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,651 visits/mo
0.3 miles
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
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 - Auto repair shop on 0.46 acres with owner financing.
Where is this auto shop located?
The property is located at 715 WEST WATERS AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Established auto repair shop with high visibility on a main thoroughfare.; Includes real estate: 4176 SF building on 0.46 acres.; Equipped with 5 bays and 4 exterior lifts.
