Turnkey Auto Shop with Service
For Sale
$750,000
2290 NE 1st Blvd, Gainesville, FL 32609
Fully equipped auto shop with high-clearance bays and customer reception for automotive repair operations.
Property Size3,482 SF
Price / SF$215.39
Days on Market94
Property Features for 2290 NE 1st Blvd
General Information
Standard status
Active
Size
3,482 SF
Property subtype
Retail
Zoning
BA
Additional Details
Business Included
Yes
Building Details
Building Size
3,482 SF
Year Built
1983
Listed By:
Ken Mears
(321) 299-6983
Source:
Lee-associates
Added: Jun 4
Changed: Aug 10
Last Checked: Sep 4 at 3:39AM
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 Ken Mears
Investment Insights
Based on property information with market context.
This 3,482 SF commercial property is set up as a fully equipped auto shop, with a layout engineered for immediate service and repair use. The facility includes high-clearance service bays, an integrated customer reception and office area, and ample on-site vehicle storage to support daily operations. The property is described as well maintained, with updated mechanical systems and durable, heavy-duty utility connections suitable for ongoing commercial use.
The property is zoned BA (Business Automotive), which aligns directly with automotive service and repair. The combination of a practical, open service footprint and functional infrastructure supports businesses that need efficient movement of vehicles and straightforward customer-facing flow.
For an end-user, the key advantage is turnkey readiness for automotive work, supported by the service-bay configuration and the built-in reception/office space. For an investor or owner-operator, the BA zoning is presented as flexible for alternative commercial, service, or retail-flex applications, subject to applicable requirements. This is a well-suited fit for automotive operators seeking an operational setup rather than a conversion project.
The property is zoned BA (Business Automotive), which aligns directly with automotive service and repair. The combination of a practical, open service footprint and functional infrastructure supports businesses that need efficient movement of vehicles and straightforward customer-facing flow.
For an end-user, the key advantage is turnkey readiness for automotive work, supported by the service-bay configuration and the built-in reception/office space. For an investor or owner-operator, the BA zoning is presented as flexible for alternative commercial, service, or retail-flex applications, subject to applicable requirements. This is a well-suited fit for automotive operators seeking an operational setup rather than a conversion project.
Key Highlights
- 3,482 SF commercial auto shop equipped for automotive service and repair operations
- High‑clearance service bays designed for vehicle service and repair
- Integrated customer reception and office area for day‑to‑day 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
$36,919
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
4.92%
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%
$738,380
$738.4K
Cap Rate 7%
$527,414
$527.4K
Cap Rate 9%
$410,211
$410.2K
Market Conditions
NOI Build-Up for 3,482 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
$56.4K $16.20/SF
− Vacancy
−$3.7K −$1.05/SF
EGI
$52.7K $15.15/SF
− OpEx
−$15.8K −$4.54/SF
NOI
$36.9K $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%
$738,380
Cap Rate 7%
$527,414
Cap Rate 9%
$410,211
Alternative Uses
Best Use
Retail
$527.4K
$461.5K – $615.3K
NOI $36,919 @ 7.0% cap · market cap 4.92%
Second Best
Industrial
$337.4K
$295.2K – $393.6K
NOI $23,618 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$862.4K
$754.6K – $1.01M
NOI $60,370 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
63k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 24%
Home Improvements & Furnishings 2%
Electronics 1%
Ollie's Bargain Outlet
Shops & Services
16,436 visits/mo
0.0 miles
Wendy's
Dining
15,258 visits/mo
0.5 miles
Gatorland Toyota
Shops & Services
7,067 visits/mo
0.5 miles
Family Dollar
Shops & Services
6,694 visits/mo
0.1 miles
Roses Discount Store
Shops & Services
6,159 visits/mo
0.1 miles
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
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 - Fully equipped auto shop with high-clearance bays and customer reception for automotive repair operations.
Where is this auto shop located?
The property is located at 2290 NE 1st Blvd Gainesville, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,482 SF commercial auto shop equipped for automotive service and repair operations; High‑clearance service bays designed for vehicle service and repair; Integrated customer reception and office area for day‑to‑day operations
