Automotive Property With Service
For Sale
$1,250,000
2623 S Garland Ave, Garland, TX 75041
Office, storage, and repair facilities support dealership operations.
Property Size4,486 SF
Lot Size0.42 Acres
Price / SF$278.64
Days on Market35
Property Features for 2623 S Garland Ave
General Information
Standard status
Active
Size
4,486 SF
Lot size
0.42 Acres
Additional Details
Road Access
Yes
Amenities
office
restroom
three-car garage storage
mechanic shop
two-car garage with lift
Building Details
Year Built
1951
Listing Agency:
Ultima Real Estate
(214) 274-2525
Listed By:
Lorena Williamson · License #0515992
Source:
Thebryandavisgroup
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 28 at 7:53PM
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 Ultima Real Estate
Investment Insights
Based on property information with market context.
This automotive property combines dealership, administrative, storage, and repair improvements across two addresses on S Garland Ave. The approximately 4,486-square-foot building area includes a 1,710-square-foot office building with a restroom, a 1,276-square-foot three-car garage with restroom, and a 1,500-square-foot mechanic shop at 2615 S. Garland. The shop includes its own office, restroom, and two-car garage with a lift.
The approximately 0.42-acre site contains 18,295.2 square feet of land and is located at 2623 S Garland Ave and 2615 S Garland Ave in Garland, Texas. The property is currently operating as a car dealership, with integrated space for customer-facing administration, vehicle storage, detailing or parts storage, and mechanical work. The two addresses are being sold together, and the property is offered as-is.
The approximately 0.42-acre site contains 18,295.2 square feet of land and is located at 2623 S Garland Ave and 2615 S Garland Ave in Garland, Texas. The property is currently operating as a car dealership, with integrated space for customer-facing administration, vehicle storage, detailing or parts storage, and mechanical work. The two addresses are being sold together, and the property is offered as-is.
Key Highlights
- Approximately 0.42‑acre site with 18,295.2 square feet of land
- Approximately 4,486 square feet of total building area across two addresses
- 1,710‑square‑foot office building with a dedicated restroom
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
$72,182
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
5.77%
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%
$1,443,640
$1.4M
Cap Rate 7%
$1,031,171
$1.0M
Cap Rate 9%
$802,022
$802.0K
Market Conditions
NOI Build-Up for 4,486 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
$108.2K $24.12/SF
− Vacancy
−$5.1K −$1.13/SF
EGI
$103.1K $22.99/SF
− OpEx
−$30.9K −$6.90/SF
NOI
$72.2K $16.09/SF
Area
Garland, TX
Vacancy
4.70%
Lease Rate
$24.12 /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%
$1,443,640
Cap Rate 7%
$1,031,171
Cap Rate 9%
$802,022
Alternative Uses
Best Use
Retail
$1.03M
$902.3K – $1.20M
NOI $72,182 @ 7.0% cap · market cap 5.77%
Second Best
Industrial
$404.4K
$353.8K – $471.8K
NOI $28,305 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$5.38M
$4.71M – $6.28M
NOI $376,798 @ 7.0% cap · market cap 30.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75041, TX
32,219
Population
10,378
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
7.9 sq mi
ZIP Area
4,078
Density / Sq Mi
$68,692
Median Household Income
$35,027
Median Earnings
$1,368
Median Rent
$214,600
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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- Galaviz Trailer Rental — 2905 S Shiloh Rd, Garland, TX 75041
Frequently Asked Questions
What type of property is this?
Automotive property - Office, storage, and repair facilities support dealership operations.
Where is this automotive property located?
The property is located at 2623 S Garland Ave Garland, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 0.42‑acre site with 18,295.2 square feet of land; Approximately 4,486 square feet of total building area across two addresses; 1,710‑square‑foot office building with a dedicated restroom
