Auto Repair Business and Real
For Sale
$700,000
3190 Florida Avenue, Inverness, FL 34450
Established auto repair business with real estate for sale.
Property Size2,862 SF
Lot Size0.72 Acres
Price / SF$244.58
Days on Market233
Property Features for 3190 Florida Avenue
General Information
Standard status
Active
Size
2,862 SF
Lot size
0.72 Acres
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$3,048
Amenities
Central Air
3
Building Details
Year Built
1982
Listing Agency:
PRIMEFIT PROPERTIES LLC
(407) 305-2284
Listed By:
Nick Vaseloff · License #3571295
Source:
Xome
Added: Jan 3
Changed: Aug 23
Last Checked: Aug 23 at 10:23AM
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 PRIMEFIT PROPERTIES LLC
Investment Insights
Based on property information with market context.
This is a turnkey opportunity to acquire an established auto repair business along with the real estate at 3190 S Florida Ave in Inverness. The property features approximately 2,750 square feet of service garage space situated on a ±0.72-acre General Commercial (GNC) zoned lot with approximately 125 feet of frontage on US-41 (South Florida Avenue), offering excellent visibility and consistent daily traffic. The site includes ample parking and yard space suitable for vehicle storage and operations, making it ideal for an owner-operator or expanding automotive business. The sale includes both the operating auto mechanic business and the underlying real estate, providing a rare opportunity to own the business and the building rather than lease. Seller is open to owner financing for qualified buyers, offering flexible acquisition options outside of traditional bank lending. Financial information is available for serious, qualified inquiries. The bike score is 46, indicating it is somewhat bikeable, and the walk score is 32, indicating it is car-dependent.
Key Highlights
- Turnkey auto repair business and real estate included in sale.
- Prime location on US‑41 (S Florida Ave) with high visibility and traffic.
- ±0.72‑acre General Commercial (GNC) zoned lot with ample parking and storage.
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
$27,497
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
3.93%
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%
$549,940
$549.9K
Cap Rate 7%
$392,814
$392.8K
Cap Rate 9%
$305,522
$305.5K
Market Conditions
NOI Build-Up for 2,862 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
$42.9K $15.00/SF
− Vacancy
−$3.6K −$1.28/SF
EGI
$39.3K $13.73/SF
− OpEx
−$11.8K −$4.12/SF
NOI
$27.5K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
Lease Rate
$15.00 /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%
$549,940
Cap Rate 7%
$392,814
Cap Rate 9%
$305,522
Alternative Uses
Best Use
Retail
$392.8K
$343.7K – $458.3K
NOI $27,497 @ 7.0% cap · market cap 3.93%
Second Best
Industrial
$269.4K
$235.7K – $314.3K
NOI $18,856 @ 7.0% cap · market cap 2.69%
Theoretical Best
Specialty Retail
$643.1K
$562.7K – $750.3K
NOI $45,016 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34450, FL
10,788
Population
6,642
Households
1.6
Avg Household Size
59
Median Age
25%
College-Educated
92%
High-School Grad
31.2 sq mi
ZIP Area
346
Density / Sq Mi
$48,955
Median Household Income
$39,409
Median Earnings
$973
Median Rent
$210,200
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.
Similar Off Market Nearby
- Trikes by Design — 7147 E England Blvd, Inverness, FL 34452
- Countryside Tire & Truck Accessories — 3109 S Florida Ave, Inverness, FL 34450
- Tony's Collision Center — 3251 S Florida Ave, Inverness, FL 34450
- Trick Concepts Paint & Body — 7147 E England Blvd, Inverness, FL 34452
Frequently Asked Questions
What type of property is this?
Auto shop - Established auto repair business with real estate for sale.
Where is this auto shop located?
The property is located at 3190 Florida Avenue Inverness, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Turnkey auto repair business and real estate included in sale.; Prime location on US‑41 (S Florida Ave) with high visibility and traffic.; ±0.72‑acre General Commercial (GNC) zoned lot with ample parking and storage.
