Automotive Shop with Multiple
For Sale
$550,000
123 N 7th Street, Corsicana, TX 75110
Automotive shop on a corner lot with four lifts and wheel alignment bay equipment.
Property Size3,312 SF
Price / SF$165.26
Days on Market21
Property Features for 123 N 7th Street
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Commercial
Zoning
BUSINESS
Additional Details
Service Bays
5
Building Details
Building Size
3,312 SF
Year Built
1995
Stories
1
Units
1
Listing Agency:
Ultima Real Estate
(972) 670-6635
Listed By:
Frank Ramirez · License #0581187
(972) 670-6635
Source:
Fullhouserealtytx
Added: Jul 25
Changed: Aug 8
Last Checked: Aug 13 at 1:20PM
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 Ultima Real Estate
Investment Insights
Based on property information with market context.
This for-sale automotive shop offers a large customer area and a small kitchen, along with four lifts for vehicle service operations. One wheel alignment bay equipment package is included and will convey with the property.
The property is located at 123 N 7th Street in Corsicana, Texas, on a high-traffic corner lot. Per the seller’s remarks, showings are limited to qualified buyers only.
The property is located at 123 N 7th Street in Corsicana, Texas, on a high-traffic corner lot. Per the seller’s remarks, showings are limited to qualified buyers only.
Key Highlights
- Automotive shop built in 1995 on a corner lot with high‑traffic location.
- Shop includes four lifts.
- Wheel alignment bay equipment conveys with the property.
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
$21,345
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
3.88%
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%
$426,900
$426.9K
Cap Rate 7%
$304,929
$304.9K
Cap Rate 9%
$237,167
$237.2K
Market Conditions
NOI Build-Up for 3,328 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
$33.5K $10.08/SF
− Vacancy
−$3.1K −$0.92/SF
EGI
$30.5K $9.16/SF
− OpEx
−$9.1K −$2.75/SF
NOI
$21.3K $6.41/SF
Area
Navarro County, TX
Vacancy
9.10%
Lease Rate
$10.08 /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%
$426,900
Cap Rate 7%
$304,929
Cap Rate 9%
$237,167
Alternative Uses
Best Use
Retail
$789.1K
$690.5K – $920.7K
NOI $55,239 @ 7.0% cap · market cap 10.04%
Second Best
Industrial
$304.9K
$266.8K – $355.8K
NOI $21,345 @ 7.0% cap · market cap 3.88%
Theoretical Best
Multifamily LT 5
$36.56M
$31.99M – $42.66M
NOI $2,559,309 @ 7.0% cap · market cap 465.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Brutons Sardis Tire — 1219 S 7th St, Corsicana, TX 75110
- R.B. Tire Company — 1201 S 7th St, Corsicana, TX 75110
- C & L Garage — 101 S 20th St, Corsicana, TX 75110
- Speight Auto Glass — 610 W 7th Ave, Corsicana, TX 75110
- Bring Money trades — 313 E 14th Ave, Corsicana, TX 75110
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive shop on a corner lot with four lifts and wheel alignment bay equipment.
Where is this auto shop located?
The property is located at 123 N 7th Street Corsicana, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Automotive shop built in 1995 on a corner lot with high‑traffic location.; Shop includes four lifts.; Wheel alignment bay equipment conveys with the property.
