Automotive Service Shop
For Sale
Contact for pricing
424-425 N Central Ave, Laurel, DE 19956
Two shop buildings support collision repair, mechanical service, fleet maintenance, and specialty automotive operations.
Property Size6,600 SF
Price / SF$135.61
Days on Market12
Property Features for 424-425 N Central Ave
General Information
Standard status
Active
Size
6,600 SF
Class
A
Property subtype
Office, Special Purpose
Additional Details
Asking Price
$895,000
Sprinkler System
Yes
Car Wash Bays
1
Amenities
paint booth
interior wash bay
sprinkler system
updated HVAC
radiant heat
exhaust ventilation
Building Details
Buildings
2
Listing Agency:
Davis strategic
(410) 543-2491
Listed By:
Tonney Insley · License #MD 653457
Source:
Crexi
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 18 at 11:19PM
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 Davis strategic
Investment Insights
Based on property information with market context.
This automotive property in Laurel, Delaware, includes two functional shop buildings totaling approximately 6,600 SF. The primary building combines office and service areas with customer reception, a paint booth, interior wash bay, sprinkler system, updated HVAC, and radiant heat. The secondary production shop adds workspace, radiant heat, and exhaust ventilation.
The buildings may be acquired together or separately, providing flexibility for automotive operators seeking a service facility, collision repair location, fleet maintenance base, contractor workspace, heavy equipment repair operation, or specialty automotive use. The property is located at 424-425 N Central Ave in Laurel, DE 19956.
The buildings may be acquired together or separately, providing flexibility for automotive operators seeking a service facility, collision repair location, fleet maintenance base, contractor workspace, heavy equipment repair operation, or specialty automotive use. The property is located at 424-425 N Central Ave in Laurel, DE 19956.
Key Highlights
- Approximately ±6,600 SF across two automotive shop buildings
- Main shop and office measures ±4,000 SF
- Secondary production shop measures ±2,600 SF
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
$61,570
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
6.88%
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%
$1,231,400
$1.2M
Cap Rate 7%
$879,571
$879.6K
Cap Rate 9%
$684,111
$684.1K
Market Conditions
NOI Build-Up for 6,600 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
$103.0K $15.60/SF
− Vacancy
−$8.2K −$1.25/SF
EGI
$94.7K $14.35/SF
− OpEx
−$33.2K −$5.02/SF
NOI
$61.6K $9.33/SF
Area
Sussex County, DE
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,231,400
Cap Rate 7%
$879,571
Cap Rate 9%
$684,111
Alternative Uses
Best Use
Flex RnD
$879.6K
$769.6K – $1.03M
NOI $61,570 @ 7.0% cap · market cap 6.88%
Second Best
Retail
$845.2K
$739.6K – $986.1K
NOI $59,166 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,958 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19956, DE
16,327
Population
6,556
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
84%
High-School Grad
100.4 sq mi
ZIP Area
163
Density / Sq Mi
$59,085
Median Household Income
$36,131
Median Earnings
$923
Median Rent
$233,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Two shop buildings support collision repair, mechanical service, fleet maintenance, and specialty automotive operations.
Where is this auto shop located?
The property is located at 424-425 N Central Ave Laurel, DE.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Approximately ±6,600 SF across two automotive shop buildings; Main shop and office measures ±4,000 SF; Secondary production shop measures ±2,600 SF
