Freestanding Auto Shop Redevelopment
For Sale
$3,950,000
1771 S State Road 7, Davie, FL 33021
B-3 zoned freestanding auto shop on US-441 with renovation underway and delivery planned for a used car dealership Certificate of Use.
Property Size14,046 SF
Lot Size1.06 Acres
Price / SF$281.22
Days on Market89
Property Features for 1771 S State Road 7
General Information
Standard status
Active
Size
14,046 SF
Total Parking Spaces
100
Lot size
1.06 Acres
Property subtype
Land
Zoning
B-3
Site & Location
Traffic Count
50,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$57,519
Building Details
Buildings
1
Listing Agency:
The 305 Agency Miami, LLC.
Listed By:
Sandra Lopez Benkahla · License #3362005
(305) 713-9891
Source:
Exprealty
Added: Jun 19
Changed: Sep 5
Last Checked: Sep 14 at 9:41AM
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 The 305 Agency Miami, LLC.
Investment Insights
Based on property information with market context.
This freestanding auto shop redevelopment property is situated on a 1.064-acre site and includes a 14, 046 SF building. The property is zoned B-3, which supports multiple commercial uses, including a used car dealership. Renovation work has been initiated, and the property is intended to be delivered with a Certificate of Use for a used car dealership. The property is being offered AS-IS, and construction will not be completed by the seller.
The site is positioned on State Road 7 (US-441), directly across from Gunther Volkswagen and just north of I-595, supporting high visibility and convenient access from both northbound and southbound State Road 7. The property is reported to benefit from over 50, 500 vehicles per day and includes approximately 100 parking spaces.
For buyers seeking an automotive-oriented commercial asset with an established dealership use in mind, this B-3 site offers a substantial base building and a planned Certificate of Use pathway, with scope to align the final buildout to business needs.
The site is positioned on State Road 7 (US-441), directly across from Gunther Volkswagen and just north of I-595, supporting high visibility and convenient access from both northbound and southbound State Road 7. The property is reported to benefit from over 50, 500 vehicles per day and includes approximately 100 parking spaces.
For buyers seeking an automotive-oriented commercial asset with an established dealership use in mind, this B-3 site offers a substantial base building and a planned Certificate of Use pathway, with scope to align the final buildout to business needs.
Key Highlights
- 1.064‑acre site with 46, 346 SF lot size
- 14, 046 SF freestanding building
- B‑3 zoning allowing multiple commercial uses, including a used car dealership
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
$156,712
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
3.97%
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%
$3,134,240
$3.1M
Cap Rate 7%
$2,238,743
$2.2M
Cap Rate 9%
$1,741,244
$1.7M
Market Conditions
NOI Build-Up for 14,046 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
$237.7K $16.92/SF
− Vacancy
−$13.8K −$0.98/SF
EGI
$223.9K $15.94/SF
− OpEx
−$67.2K −$4.78/SF
NOI
$156.7K $11.16/SF
Area
Davie, FL
Vacancy
5.80%
Lease Rate
$16.92 /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%
$3,134,240
Cap Rate 7%
$2,238,743
Cap Rate 9%
$1,741,244
Alternative Uses
Best Use
Retail
$2.24M
$1.96M – $2.61M
NOI $156,712 @ 7.0% cap · market cap 3.97%
Second Best
Industrial
$2.19M
$1.92M – $2.56M
NOI $153,517 @ 7.0% cap · market cap 3.89%
Theoretical Best
Warehouse
$2.66M
$2.33M – $3.11M
NOI $186,413 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,145
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33021, FL
50,091
Population
21,930
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
5,692
Density / Sq Mi
$69,249
Median Household Income
$41,390
Median Earnings
$1,707
Median Rent
$395,800
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 - B-3 zoned freestanding auto shop on US-441 with renovation underway and delivery planned for a used car dealership Certificate of Use.
Where is this auto shop located?
The property is located at 1771 S State Road 7 Davie, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 1.064‑acre site with 46, 346 SF lot size; 14, 046 SF freestanding building; B‑3 zoning allowing multiple commercial uses, including a used car dealership
