Auto Shop With Service
For Sale
$899,900
2821 Garland St, Niles, OH 44446
The building combines operational areas with offices, retail space, a waiting area, break room, and restrooms.
Property Size13,000 SF
Price / SF$69.22
Days on Market39
Property Features for 2821 Garland St
General Information
Standard status
Active
Size
13,000 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
12
Amenities
20+ foot ceilings
oil change bays
two large service areas
12 overhead doors
private offices
retail space
waiting area
break room
restrooms
Building Details
Year Built
1959
Buildings
1
Building Size
13,000 SF
Listing Agency:
Altobelli Real Estate
(330) 652-0200
Listed By:
Jason J Altobelli · License #443779
Source:
Theacclaimedrealty
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 5:36AM
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 Altobelli Real Estate
Investment Insights
Based on property information with market context.
This 13,000-square-foot commercial building is configured for automotive service and related operations. The property includes oil change bays, two large service areas, and 12 overhead doors ranging from 12 to 20 feet in height. Interior features include private offices, a retail area, waiting area, break room, and restrooms. Ceiling heights exceed 20 feet, providing substantial vertical clearance for vehicles and equipment.
The building is located near SR422, with SR11 and SR46 also nearby. Surrounding retail includes Walgreens, Dunkin, McDonald's, and Dollar General. Built in 1959, the property offers a combination of automotive work areas, administrative space, and customer-facing areas within one commercial facility.
The building is located near SR422, with SR11 and SR46 also nearby. Surrounding retail includes Walgreens, Dunkin, McDonald's, and Dollar General. Built in 1959, the property offers a combination of automotive work areas, administrative space, and customer-facing areas within one commercial facility.
Key Highlights
- 13,000‑square‑foot commercial building
- 12 overhead doors ranging from 12 to 20 feet in height
- Ceiling heights exceed 20 feet
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
$64,867
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
7.21%
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%
$1,297,340
$1.3M
Cap Rate 7%
$926,671
$926.7K
Cap Rate 9%
$720,744
$720.7K
Market Conditions
NOI Build-Up for 13,000 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
$83.3K $6.41/SF
− Vacancy
−$7.0K −$0.54/SF
EGI
$76.3K $5.87/SF
− OpEx
−$11.4K −$0.88/SF
NOI
$64.9K $4.99/SF
Area
Trumbull County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
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%
$1,297,340
Cap Rate 7%
$926,671
Cap Rate 9%
$720,744
Alternative Uses
Best Use
Retail
$1.79M
$1.57M – $2.09M
NOI $125,536 @ 7.0% cap · market cap 13.95%
Second Best
Warehouse
$926.7K
$810.8K – $1.08M
NOI $64,867 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,723 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
12
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44446, OH
20,173
Population
10,476
Households
1.9
Avg Household Size
44
Median Age
21%
College-Educated
92%
High-School Grad
14.0 sq mi
ZIP Area
1,441
Density / Sq Mi
$49,779
Median Household Income
$35,596
Median Earnings
$786
Median Rent
$108,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest 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 - The building combines operational areas with offices, retail space, a waiting area, break room, and restrooms.
Where is this auto shop located?
The property is located at 2821 Garland St Niles, OH.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 13,000‑square‑foot commercial building; 12 overhead doors ranging from 12 to 20 feet in height; Ceiling heights exceed 20 feet
