Connected Automotive Repair
For Sale
$1,195,000
251 24th St, Richmond, CA 94804
The property comprises connected automotive improvements on a commercial parcel.
Property Size8,000 SF
Lot Size0.23 Acres
Price / SF$149.38
Days on Market48
Property Features for 251 24th St
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.23 Acres
Zoning
CM-5
Listing Agency:
PDF Commercial
Listed By:
Steven Johnson · License #02221530
(707) 297-5200
Source:
Expcommercial
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 16 at 5:38AM
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 PDF Commercial
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Investment Insights
Based on property information with market context.
The property consists of connected automotive repair improvements spanning approximately 8,000 square feet. The facility occupies approximately 10,019 square feet of land and was constructed in 1947.
The offering includes the adjoining addresses of 245 and 251 24th Street in Richmond, California. Its configuration combines the two street addresses into one connected automotive facility.
The offering includes the adjoining addresses of 245 and 251 24th Street in Richmond, California. Its configuration combines the two street addresses into one connected automotive facility.
Key Highlights
- Approximately 8,000 SF of connected automotive facility space
- Approximately 10,019 SF of land
- Automotive repair facility at 245 & 251 24th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,604
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,152,080
$2.2M
Cap Rate 7%
$1,537,200
$1.5M
Cap Rate 9%
$1,195,600
$1.2M
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$168.0K $21.00/SF
− Vacancy
−$14.3K −$1.79/SF
EGI
$153.7K $19.22/SF
− OpEx
−$46.1K −$5.76/SF
NOI
$107.6K $13.45/SF
Area
Richmond, CA
Vacancy
8.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,152,080
Cap Rate 7%
$1,537,200
Cap Rate 9%
$1,195,600
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.79M
NOI $107,604 @ 7.0% cap · market cap 9.00%
Second Best
Industrial
$709.1K
$620.5K – $827.3K
NOI $49,638 @ 7.0% cap · market cap 4.15%
Theoretical Best
Multifamily LT 5
$1.91M
$1.67M – $2.23M
NOI $133,782 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,234
Businesses Nearby
63k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 41%
Electronics 6%
Hotels & Casinos 1%
McDonald's
Dining
24,154 visits/mo
0.1 miles
AMPM
Shops & Services
10,558 visits/mo
0.2 miles
Taco Bell
Dining
8,948 visits/mo
0.2 miles
7-Eleven
Shops & Services
8,825 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
6,370 visits/mo
0.1 miles
Demographics for 94804, CA
45,108
Population
16,659
Households
2.7
Avg Household Size
37
Median Age
32%
College-Educated
78%
High-School Grad
6.5 sq mi
ZIP Area
6,940
Density / Sq Mi
$86,430
Median Household Income
$46,473
Median Earnings
$1,825
Median Rent
$618,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Baja Tire — 1401 Cutting Blvd, Richmond, CA 94804
- Ledesma Performance Auto Repair — 1333 Cutting Blvd, Richmond, CA 94804
- Felix Auto Repair — 1401 Cutting Blvd, Richmond, CA 94804
- VELOCITY MOBILE AUTO GLASS — 2531 Cutting Blvd, Richmond, CA 94804
- Pine Towing — 363 S 36th St, Richmond, CA 94804
Frequently Asked Questions
What type of property is this?
Auto shop - The property comprises connected automotive improvements on a commercial parcel.
Where is this auto shop located?
The property is located at 251 24th St Richmond, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Approximately 8,000 SF of connected automotive facility space; Approximately 10,019 SF of land; Automotive repair facility at 245 & 251 24th Street
