Single-Tenant Auto
For Sale
Contact for pricing
1426 N Main St, Gainesville, FL 32601
Occupied by Brakes 4 Less under a new net lease with multiple renewal options.
Property Size3,294 SF
Price / SF$258.04
Days on Market215
Property Features for 1426 N Main St
General Information
Standard status
Active
Size
3,294 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Core
Building Details
Year Built
1974
Year Renovated
1985
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
CBRE - Tampa
Listed By:
James Garner, CCIM · License #FL SL3273659
Source:
Crexi
Added: Jan 29
Changed: Aug 31
Last Checked: Aug 30 at 3:25PM
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 CBRE - Tampa
Investment Insights
Based on property information with market context.
This 3,294-square-foot automotive property is a single-tenant auto shop occupied by Brakes 4 Less. Built in 1974, the property is subject to a new 10-year net lease with 2% annual increases beginning in year five. The agreement also includes four 5-year renewal options and no landlord obligations.
The property is located in Gainesville, Florida, approximately 2 miles from the University of Florida. The university supports more than 62,000 students and approximately 6,700 faculty, while the surrounding 3-mile area includes 75,501 residents. Gainesville is served directly by I-75, providing regional connections for customers, employees, and deliveries. The Gainesville MSA includes Alachua, Gilchrist, and Levy counties and has a population exceeding 355,000.
The property is located in Gainesville, Florida, approximately 2 miles from the University of Florida. The university supports more than 62,000 students and approximately 6,700 faculty, while the surrounding 3-mile area includes 75,501 residents. Gainesville is served directly by I-75, providing regional connections for customers, employees, and deliveries. The Gainesville MSA includes Alachua, Gilchrist, and Levy counties and has a population exceeding 355,000.
Key Highlights
- 3,294 SF single‑tenant automotive property
- Occupied by Brakes 4 Less
- New 10‑year net lease
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
$34,926
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
4.11%
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%
$698,520
$698.5K
Cap Rate 7%
$498,943
$498.9K
Cap Rate 9%
$388,067
$388.1K
Market Conditions
NOI Build-Up for 3,294 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
$53.4K $16.20/SF
− Vacancy
−$3.5K −$1.05/SF
EGI
$49.9K $15.15/SF
− OpEx
−$15.0K −$4.54/SF
NOI
$34.9K $10.60/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$698,520
Cap Rate 7%
$498,943
Cap Rate 9%
$388,067
Alternative Uses
Best Use
Retail
$498.9K
$436.6K – $582.1K
NOI $34,926 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$319.2K
$279.3K – $372.4K
NOI $22,343 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$815.9K
$713.9K – $951.8K
NOI $57,110 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
156k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Groceries 26%
Shops & Services 19%
Apparel 8%
Publix
Groceries
40,701 visits/mo
0.1 miles
Circle K
Shops & Services
18,580 visits/mo
0.2 miles
Wendy's
Dining
15,258 visits/mo
0.2 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
14,655 visits/mo
0.3 miles
Burger King
Dining
13,417 visits/mo
0.2 miles
Demographics for 32601, FL
22,039
Population
11,204
Households
2
Avg Household Size
27
Median Age
62%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
4,791
Density / Sq Mi
$30,878
Median Household Income
$18,954
Median Earnings
$1,092
Median Rent
$284,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Occupied by Brakes 4 Less under a new net lease with multiple renewal options.
Where is this auto shop located?
The property is located at 1426 N Main St Gainesville, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,294 SF single‑tenant automotive property; Occupied by Brakes 4 Less; New 10‑year net lease
