Two-Building Automotive Shop
For Sale
$895,000
425 CENTRAL AVENUE, Laurel, DE 19956
Collision repair and mechanical service property with specialized shop improvements and administrative space.
Property Size6,600 SF
Price / SF$135.61
Days on Market15
Property Features for 425 CENTRAL AVENUE
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Industrial
Additional Details
Sprinkler System
Yes
Car Wash Bays
1
Taxes and HOA fees
Annual Taxes
$820
Amenities
customer reception
paint booth
interior wash bay
updated HVAC
radiant heat
exhaust ventilation
Central Air
Parking.
Lot.
97.00 x 113.00
Other.
Building Details
Year Built
1995
Buildings
2
Listing Agency:
Keller Williams Realty Delmarva
(410) 844-4160
Listed By:
Tonney Insley · License #RS-0037858
(410) 844-4160
Source:
Xome
Added: Aug 7
Changed: Aug 18
Last Checked: Aug 18 at 1:22PM
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 Keller Williams Realty Delmarva
Investment Insights
Based on property information with market context.
This automotive facility includes approximately 6,600 SF across two separate shop buildings, with the option to purchase the buildings together or individually. The primary building combines office and production functions, including customer reception, a paint booth, interior wash bay, sprinkler system, updated HVAC, and radiant heat. The second shop provides additional workspace with radiant heat and exhaust ventilation.
Located at 425 Central Avenue in Laurel, Delaware, the property is configured for automotive collision repair, mechanical service, fleet maintenance, contractor operations, heavy equipment repair, and specialty automotive uses. Equipment is also available for separate purchase. The property was built in 1995 and includes central air.
Located at 425 Central Avenue in Laurel, Delaware, the property is configured for automotive collision repair, mechanical service, fleet maintenance, contractor operations, heavy equipment repair, and specialty automotive uses. Equipment is also available for separate purchase. The property was built in 1995 and includes central air.
Key Highlights
- Approximately 6,600 SF across two functional shop buildings
- Buildings may be purchased together or separately
- Main building includes customer reception, paint booth, and interior wash bay
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
$59,166
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
6.61%
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%
$1,183,320
$1.2M
Cap Rate 7%
$845,229
$845.2K
Cap Rate 9%
$657,400
$657.4K
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
$91.1K $13.80/SF
− Vacancy
−$6.6K −$0.99/SF
EGI
$84.5K $12.81/SF
− OpEx
−$25.4K −$3.84/SF
NOI
$59.2K $8.96/SF
Area
Sussex County, DE
Vacancy
7.20%
Lease Rate
$13.80 /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%
$1,183,320
Cap Rate 7%
$845,229
Cap Rate 9%
$657,400
Alternative Uses
Best Use
Retail
$845.2K
$739.6K – $986.1K
NOI $59,166 @ 7.0% cap · market cap 6.61%
Second Best
Industrial
$555.4K
$486.0K – $648.0K
NOI $38,877 @ 7.0% cap · market cap 4.34%
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
284
Businesses Nearby
5k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
M&T Bank
Shops & Services
4,719 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Mullins Towing — 537 E 4th St, Laurel, DE 19956
Frequently Asked Questions
What type of property is this?
Auto shop - Collision repair and mechanical service property with specialized shop improvements and administrative space.
Where is this auto shop located?
The property is located at 425 CENTRAL AVENUE 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 functional shop buildings; Buildings may be purchased together or separately; Main building includes customer reception, paint booth, and interior wash bay
