Automotive Service
New
For Sale
$2,990,654
3940 State Hwy 31 W, Corsicana, TX 75110
Automotive service facility along State Hwy 31 W in Corsicana, with access to the Dallas–Fort Worth and Houston markets.
Property Size6,925 SF
Price / SF$431.86
Days on Market2
Property Features for 3940 State Hwy 31 W
General Information
Standard status
Active
Size
6,925 SF
Property subtype
Auto Parts
Lease Type
Absolute Net
Additional Details
Cap Rate
5.35%
Highway Access
Yes
Amenities
Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
5 Percent Rental Increases Every Five Years with Multiple Renewal Options
Mavis Offers a Menu of Additional Services Including Brakes, Alignments, Oil Changes, Suspension, Shocks, Struts, Battery Replacement, and Exhaust Work
Mavis is One of the Largest Independent Automotive Service Businesses in the United States with Over 3,500 Service Centers Throughout the U.S.
Across from Walmart Supercenter and Surrounded by National Tenants: Tractor Supply Co, ALDI, McDonald's, Planet Fitness, and More
Households Projected to Increase Over 7 Percent in the Immediate Area by 2030
Down the Road from Navarro College (±11,000 Students)
Excellent Frontage Along State Hwy 31 West, a Significant Local Thoroughfare Providing Direct Access to Interstate 45
Building Details
Building Size
6,925 SF
Buildings
1
Listed By:
Alex Frankel · License #License(s): OH: SAL.2017002396
(602) 687-6697
Source:
Marcusmillichap
Added: Sep 13
Last Checked: Sep 14 at 5:12AM
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 Alex Frankel
Investment Insights
Based on property information with market context.
This automotive service property is located at 3940 State Hwy 31 W in Corsicana, Texas, and encompasses 6,925 square feet. The asset is classified as an auto shop and is positioned along a state highway corridor.
Corsicana serves as the county seat of Navarro County and sits approximately 55 miles south of Dallas along Interstate 45. Its location provides connectivity toward both Dallas and Houston while serving a smaller regional community.
Corsicana serves as the county seat of Navarro County and sits approximately 55 miles south of Dallas along Interstate 45. Its location provides connectivity toward both Dallas and Houston while serving a smaller regional community.
Key Highlights
- 6,925‑square‑foot automotive service property
- Located at 3940 State Hwy 31 W, Corsicana, TX 75110
- Approximately 55 miles south of Dallas along Interstate 45
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
$114,944
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
3.84%
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%
$2,298,880
$2.3M
Cap Rate 7%
$1,642,057
$1.6M
Cap Rate 9%
$1,277,156
$1.3M
Market Conditions
NOI Build-Up for 6,925 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
$172.8K $24.96/SF
− Vacancy
−$8.6K −$1.25/SF
EGI
$164.2K $23.71/SF
− OpEx
−$49.3K −$7.11/SF
NOI
$114.9K $16.60/SF
Area
Navarro County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$2,298,880
Cap Rate 7%
$1,642,057
Cap Rate 9%
$1,277,156
Alternative Uses
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $114,944 @ 7.0% cap · market cap 3.84%
Second Best
Industrial
$634.5K
$555.2K – $740.3K
NOI $44,416 @ 7.0% cap · market cap 1.49%
Theoretical Best
Multifamily LT 5
$76.08M
$66.57M – $88.76M
NOI $5,325,486 @ 7.0% cap · market cap 178.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
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
- Blakes recovery — 4430 State Hwy 31 W, Corsicana, TX 75110
- J & L Industrial Tire Co — 4548 State Hwy 31 W, Corsicana, TX 75110
- Rock-N-Roll Customs — 4429 w, state hwy 31 w, corsicana, tx 75110
- Walmart Auto Care Centers — 3801 TX-31, Corsicana, TX 75110
- Auto Shoes — 3005 W 7th Ave, Corsicana, TX 75110
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service facility along State Hwy 31 W in Corsicana, with access to the Dallas–Fort Worth and Houston markets.
Where is this auto shop located?
The property is located at 3940 State Hwy 31 W Corsicana, TX.
What is the asking price?
The asking price for this property is $2,990,654.
What are key features of this property?
This property features: 6,925‑square‑foot automotive service property; Located at 3940 State Hwy 31 W, Corsicana, TX 75110; Approximately 55 miles south of Dallas along Interstate 45
