Building Details

Year Built 1998

Listing Agency: RE/MAX SUNSET REALTY Show Phone

Listed By: FRANK FEKETE, LLC · License #3039291 Show Phone

Source: Corcoran

Added: Mar 6, 2023 Changed: Oct 19 Last Checked: Oct 19 at 6:42AM

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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 / Yr

$48,581

Cap Rate

3.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$971,620 $971.6K

Cap Rate 7%

$694,014 $694.0K

Cap Rate 9%

$539,789 $539.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

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 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 (±1% cap)

NOI $48,581 @ 7.0% cap · market cap 3.05%

Second Best

Retail

$680.4K

$595.4K – $793.8K (±1% cap)

NOI $47,628 @ 7.0% cap · market cap 2.99%

Theoretical Best

Office A

$931.9K

$815.4K – $1.09M (±1% cap)

NOI $65,232 @ 7.0% cap · market cap 4.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mad Hatter Muffler ... Auto Repair Shop Lulu's Garage Auto Repair Shop

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Veterinary Clinic Pet Grooming Service Parking Lot & Garage Tanning Salon Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6.3% 2019

6.3% 2020

5.3% 2021

4.3% 2022

4% 2023

3.8% 2024

4.7% 2025

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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.