Auto Repair
For Sale
$500,000
3198 S Dixie Highway, Miami, FL 33133
Existing automotive service property located in Miami, Florida.
Property Size2,127 SF
Price / SF$235.07
Days on Market176
Property Features for 3198 S Dixie Highway
General Information
Standard status
Active
Size
2,127 SF
Property subtype
Commercial
Building Details
Building Size
2,127 SF
Year Built
1959
Listing Agency:
Blue Water Holding Group
(561) 951-5352
Listed By:
Sheldon Andre · License #3406747
Source:
Batrare
Added: Feb 18
Changed: Aug 12
Last Checked: Aug 12 at 3:21PM
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 Blue Water Holding Group
Investment Insights
Based on property information with market context.
This Miami property comprises an auto repair shop with 2,127 square feet of building area. Constructed in 1959, the facility is positioned at 3198 S Dixie Highway, Miami, FL 33133.
The property’s established automotive-service configuration provides a commercial setting for repair operations. Its highway address places the shop on S Dixie Highway within Miami.
The property’s established automotive-service configuration provides a commercial setting for repair operations. Its highway address places the shop on S Dixie Highway within Miami.
Key Highlights
- 2,127‑square‑foot auto repair shop
- Built in 1959
- Located at 3198 S Dixie Highway, Miami, FL 33133
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
$28,575
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
5.72%
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%
$571,500
$571.5K
Cap Rate 7%
$408,214
$408.2K
Cap Rate 9%
$317,500
$317.5K
Market Conditions
NOI Build-Up for 2,127 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 $20.16/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$40.8K $19.19/SF
− OpEx
−$12.2K −$5.76/SF
NOI
$28.6K $13.43/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /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%
$571,500
Cap Rate 7%
$408,214
Cap Rate 9%
$317,500
Alternative Uses
Best Use
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,502 @ 7.0% cap · market cap 20.10%
Second Best
Retail
$991.4K
$867.4K – $1.16M
NOI $69,395 @ 7.0% cap · market cap 13.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,430
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33133, FL
34,141
Population
17,235
Households
2
Avg Household Size
43
Median Age
62%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
8,129
Density / Sq Mi
$92,734
Median Household Income
$58,233
Median Earnings
$1,945
Median Rent
$906,800
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- AutoMov — Merrick Way, 3015 Grand Ave, Coconut Grove, FL 33133
- Paradigm Shift Southeast — 3109 Grand Ave #446, Coconut Grove, FL 33133
- Adrenaline Drive — 3390 Mary St P2, Miami, FL 33133
- Laxson Performance — 3191 Grand Ave, Miami, FL 33133
- mobilemechanicus — 3850 Washington Ave, Miami, FL 33133
Frequently Asked Questions
What type of property is this?
Auto shop - Existing automotive service property located in Miami, Florida.
Where is this auto shop located?
The property is located at 3198 S Dixie Highway Miami, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,127‑square‑foot auto repair shop; Built in 1959; Located at 3198 S Dixie Highway, Miami, FL 33133
