Paint and Body Auto
For Sale
$1,300,000
1742 Canova Street Se Palm Bay, Palm Bay, FL 32909
Fully licensed automotive facility with dedicated painting capabilities, customer parking, and an included real estate component.
Property Size4,400 SF
Lot Size0.34 Acres
Price / SF$295.45
Days on Market54
Property Features for 1742 Canova Street Se Palm Bay
General Information
Standard status
Active
Size
4,400 SF
Lot size
0.34 Acres
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$6,478
Amenities
roll-up doors
paint booth
paint mixing station
impact windows
Tile
true
1
2
10
Chain Link
Furniture, Fixtures and Equipment, Business with Real Estate
Other
Public
0.34
false
Additional Parking,Garage,Garage Door Opener,Parking Lot
City Street
4400
Building Details
Building Size
4,400 SF
Year Built
2015
Buildings
1
Stories
2
Construction
concrete block / stucco
Listing Agency:
(407) 890-1354
Listed By:
Danielle Ramesar
(407) 890-1354
Source:
Therealestatecollection
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 30 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 Danielle Ramesar
Investment Insights
Based on property information with market context.
This 4,400-square-foot automotive property includes a concrete block and stucco building constructed in 2015 on a 0.34-acre lot. The facility has five roll-up doors, a paint booth, and a paint mixing station, with tile flooring and impact windows. The offering includes the building, business, furniture, fixtures, and equipment, along with a fully licensed car dealership and paint and body shop that has operated for almost 10 years.
Located at 1742 Canova Street SE in Palm Bay, the property provides room for customer vehicles and on-site work areas. The site includes a parking lot, additional parking, a garage, and chain-link fencing, with access from a city street.
Located at 1742 Canova Street SE in Palm Bay, the property provides room for customer vehicles and on-site work areas. The site includes a parking lot, additional parking, a garage, and chain-link fencing, with access from a city street.
Key Highlights
- 4,400 SF building constructed in 2015
- 0.34‑acre lot with space for customer vehicles and work areas
- Five roll‑up doors support automotive operations
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
$50,728
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
3.90%
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%
$1,014,560
$1.0M
Cap Rate 7%
$724,686
$724.7K
Cap Rate 9%
$563,644
$563.6K
Market Conditions
NOI Build-Up for 4,400 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
$79.2K $18.00/SF
− Vacancy
−$6.7K −$1.53/SF
EGI
$72.5K $16.47/SF
− OpEx
−$21.7K −$4.94/SF
NOI
$50.7K $11.53/SF
Area
Palm Bay, FL
Vacancy
8.50%
Lease Rate
$18.00 /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%
$1,014,560
Cap Rate 7%
$724,686
Cap Rate 9%
$563,644
Alternative Uses
Best Use
Retail
$724.7K
$634.1K – $845.5K
NOI $50,728 @ 7.0% cap · market cap 3.90%
Second Best
Industrial
$601.9K
$526.7K – $702.2K
NOI $42,134 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,259 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
285k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 34%
Groceries 12%
Office Supplies 5%
Publix
Groceries
35,401 visits/mo
0.2 miles
McDonald's
Dining
32,246 visits/mo
0.1 miles
Chili's Grill & Bar
Dining
22,444 visits/mo
0.2 miles
Cumberland Farms
Shops & Services
17,336 visits/mo
0.1 miles
Dollar Tree
Shops & Services
14,365 visits/mo
0.2 miles
Demographics for 32909, FL
36,789
Population
14,278
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
638
Density / Sq Mi
$76,708
Median Household Income
$36,071
Median Earnings
$1,502
Median Rent
$261,400
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - Fully licensed automotive facility with dedicated painting capabilities, customer parking, and an included real estate component.
Where is this auto shop located?
The property is located at 1742 Canova Street Se Palm Bay Palm Bay, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,400 SF building constructed in 2015; 0.34‑acre lot with space for customer vehicles and work areas; Five roll‑up doors support automotive operations
