Highway 301 Automotive Business
For Sale
$800,000
15551 N US HIGHWAY 301, Citra, FL 32113
Automotive repair business with land and residential property for sale.
Property Size3,062 SF
Lot Size2.40 Acres
Days on Market164
Property Features for 15551 N US HIGHWAY 301
General Information
Standard status
Active
Size
3,062 SF
Lot size
2.40 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,069
Building Details
Building Size
3,062 SF
Year Built
1994
Listing Agency:
QUARTER STONE REALTY, LLC
(352) 426-8934
Listed By:
Cleedia Huff · License #3201963
(352) 426-8934
Source:
Elliman
Added: Mar 11
Changed: Aug 17
Last Checked: Aug 20 at 7:48AM
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 QUARTER STONE REALTY, LLC
Investment Insights
Based on property information with market context.
This property, zoned B-4, is suitable for a shopping center, sports arena, contractor yard, storage facility, or skate ring. Currently operating as an automotive repair shop and tow yard, the business includes three bays, ample parking, and office space. A tow truck and other equipment may be included with an acceptable offer. The electrical system was updated in 2018 with 200 amps. The property also features a gated three-bedroom, two-bath doublewide residence. Located on Highway 301, the property benefits from a traffic count of 13,300 vehicles per day. Highway 301 is a four-lane highway at this location, serving as a route to Jacksonville. The business is part of the Ocala, FL metropolitan area, which had a population of 61,719 in 2020 with an annual growth rate of 1.06%. The estimated overall capitalization rate is 13% with an estimated NOI of $64,269 annually. The property has separate meters for the home and business, and security lights are installed.
Key Highlights
- B‑4 Zoning: Offers highest use classification, allowing for diverse development options.
- Established Automotive Repair Business: Includes 3 bays, ample parking, and office space.
- High‑Traffic Location: Situated on busy Hwy 301 with a traffic count of 13,300 vehicles per day.
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
$35,126
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
4.39%
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%
$702,520
$702.5K
Cap Rate 7%
$501,800
$501.8K
Cap Rate 9%
$390,289
$390.3K
Market Conditions
NOI Build-Up for 3,062 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
$52.5K $17.16/SF
− Vacancy
−$2.4K −$0.77/SF
EGI
$50.2K $16.39/SF
− OpEx
−$15.1K −$4.92/SF
NOI
$35.1K $11.47/SF
Area
Marion County, FL
Vacancy
4.50%
Lease Rate
$17.16 /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%
$702,520
Cap Rate 7%
$501,800
Cap Rate 9%
$390,289
Alternative Uses
Best Use
Retail
$1.10M
$962.7K – $1.28M
NOI $77,013 @ 7.0% cap · market cap 9.63%
Second Best
Industrial
$501.8K
$439.1K – $585.4K
NOI $35,126 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,046 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32113, FL
6,396
Population
2,734
Households
2.3
Avg Household Size
49
Median Age
12%
College-Educated
88%
High-School Grad
85.5 sq mi
ZIP Area
75
Density / Sq Mi
$62,401
Median Household Income
$33,829
Median Earnings
$779
Median Rent
$161,400
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
- Triple D Wholesale Tire LLC — 16251 US-301, Citra, FL 32113
- Mike Helton's 4X4 & 24 HOUR Mobile Diesel — 451 NE 155th Street Rd, Citra, FL 32113
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive repair business with land and residential property for sale.
Where is this auto shop located?
The property is located at 15551 N US HIGHWAY 301 Citra, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: B‑4 Zoning: Offers highest use classification, allowing for diverse development options.; Established Automotive Repair Business: Includes 3 bays, ample parking, and office space.; High‑Traffic Location: Situated on busy Hwy 301 with a traffic count of 13,300 vehicles per day.
