Auto Service Building with 12
For Sale
$899,900
2821 Garland Street, Niles, OH 44446
CommercialSale, Niles, OH
Property Size13,000 SF
Lot Size0.64 Acres
Price / SF$69.22
Days on Market382
Property Features for 2821 Garland Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Parking features
Parking Lot
Subdivision
Mckinley Heights
Elementary school district
Niles CSD - 7818
Middle school district
Niles CSD - 7818
High school district
Niles CSD - 7818
Directions
SR422 just north of the SR169 intersection to east on Garland (right after the Walgreens)
Standard status
Active
APN
24-065950
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
REPLAT 76A 110F N PT MCK HTS .636A GARLAND AVE
Tax Annual Amount
6526
Legal Description
REPLAT 76A 110F N PT MCK HTS .636A GARLAND AVE
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
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
Listing Agency:
Altobelli Real Estate
(330) 652-0200
Listed By:
Jason J Altobelli · License #443779
(330) 652-0200
Added: Aug 7, 2025
Changed: Aug 20
Last Checked: Aug 23 at 7:06PM
MLS# 5146914
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1959, this commercial building was formerly operated as an oil change and automotive service garage. The layout includes oil-change bays, two expansive service areas, private offices, retail space, a customer waiting area, break room, and restrooms. More than 20 feet of ceiling height supports vehicle and equipment movement, while 12 overhead doors range from 12 to 20 feet high. The property also includes a parking lot, natural-gas heating, public water, and public sewer.
The building sits near SR422, with SR11 and SR46 a short distance away. Nearby retail businesses include Walgreens, Dunkin, McDonald's, and Dollar General. The 0.6364-acre site combines automotive-oriented improvements with administrative, customer-service, and retail areas.
The building sits near SR422, with SR11 and SR46 a short distance away. Nearby retail businesses include Walgreens, Dunkin, McDonald's, and Dollar General. The 0.6364-acre site combines automotive-oriented improvements with administrative, customer-service, and retail areas.
Key Highlights
- Automotive service building with oil‑change bays and two large service areas
- 12 overhead doors ranging from 12 to 20 feet high
- Ceiling height exceeds 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
$53,420
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
5.94%
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%
$1,068,400
$1.1M
Cap Rate 7%
$763,143
$763.1K
Cap Rate 9%
$593,556
$593.6K
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
−$22.9K −$1.76/SF
NOI
$53.4K $4.11/SF
Area
Trumbull County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$1,068,400
Cap Rate 7%
$763,143
Cap Rate 9%
$593,556
Alternative Uses
Best Use
Retail
$1.79M
$1.57M – $2.09M
NOI $125,536 @ 7.0% cap · market cap 13.95%
Second Best
Industrial
$763.1K
$667.8K – $890.3K
NOI $53,420 @ 7.0% cap · market cap 5.94%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
76k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 43%
Home Improvements & Furnishings 8%
Apparel 4%
McDonald's
Dining
20,121 visits/mo
0.2 miles
Dunkin' Donuts
Dining
14,145 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,036 visits/mo
0.2 miles
Dollar General
Shops & Services
8,385 visits/mo
0.2 miles
BP
Shops & Services
6,855 visits/mo
0.2 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - High-clearance layout includes service areas, offices, customer waiting space, and a retail component.
Where is this auto shop located?
The property is located at 2821 Garland Street 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: Automotive service building with oil‑change bays and two large service areas; 12 overhead doors ranging from 12 to 20 feet high; Ceiling height exceeds 20 feet
