Turnkey Auto Shop with Service
For Sale
Contact for pricing
2290 Northeast 1st Boulevard, Gainesville, FL 32609
Fully equipped auto shop with high-clearance bays and on-site storage, zoned for business automotive use.
Property Size3,482 SF
Price / SF$215.39
Days on Market88
Property Features for 2290 Northeast 1st Boulevard
General Information
Standard status
Active
Size
3,482 SF
Class
B
Property subtype
Retail
Zoning
BA
Lease Type
NNN
Additional Details
Business Included
Yes
Building Details
Year Built
1979
Year Renovated
1983
Listing Agency:
Lee & Associates Gainesville
(352) 505-9597
Listed By:
Ken Mears · License #FL SL3273401
Source:
Crexi
Added: Jun 3
Changed: Aug 28
Last Checked: Aug 29 at 7:49AM
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 Lee & Associates Gainesville
Investment Insights
Based on property information with market context.
This 3,482 SF automotive facility operates as a fully equipped auto shop, laid out to support day-to-day service and repair operations. The property includes high-clearance service bays, an integrated customer reception and office area, and ample on-site vehicle storage. It is in well-maintained condition with updated mechanical systems and durable, heavy-duty utility connections designed for ongoing commercial use. The open, functional footprint is well suited to an automotive operator that needs a ready-to-run environment.
The property is located at 2209 Northeast 1st Boulevard in Gainesville, Florida, positioned just off North Main Street and NE 23rd Avenue. This placement provides direct access to primary thoroughfares and high-visibility approach for customers and vehicles. The surrounding area is characterized by an automotive retail corridor, with nearby major dealerships including Audi, Chevrolet, BMW, and Dodge Jeep.
Zoned BA (Business Automotive), the site is a strong fit for an end-user seeking a turnkey automotive service location. The BA zoning also allows flexibility for alternative commercial, service, or retail-flex applications within the automotive-oriented business category. With its established infrastructure and practical layout, the property can support businesses that rely on service-bay functionality, storage, and an on-site customer-facing office.
The property is located at 2209 Northeast 1st Boulevard in Gainesville, Florida, positioned just off North Main Street and NE 23rd Avenue. This placement provides direct access to primary thoroughfares and high-visibility approach for customers and vehicles. The surrounding area is characterized by an automotive retail corridor, with nearby major dealerships including Audi, Chevrolet, BMW, and Dodge Jeep.
Zoned BA (Business Automotive), the site is a strong fit for an end-user seeking a turnkey automotive service location. The BA zoning also allows flexibility for alternative commercial, service, or retail-flex applications within the automotive-oriented business category. With its established infrastructure and practical layout, the property can support businesses that rely on service-bay functionality, storage, and an on-site customer-facing office.
Key Highlights
- 3,482 SF commercial auto shop built in 1979, fully equipped for automotive service and repair
- High‑clearance service bays plus integrated customer reception and office area
- Zoned BA (Business Automotive) with ample on‑site vehicle storage for daily 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 on-site storage, zoned for business automotive use.
Where is this auto shop located?
The property is located at 2290 Northeast 1st Boulevard 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 built in 1979, fully equipped for automotive service and repair; High‑clearance service bays plus integrated customer reception and office area; Zoned BA (Business Automotive) with ample on‑site vehicle storage for daily operations
