Building Details

Year Built 1998

Listing Agency: Century 21 Ryan Realty

Listed By: Lance Rhea · License #3206704 Show Phone

Source: Crexi

Added: Apr 15, 2023 Changed: Oct 8 Last Checked: Oct 11 at 5:27AM

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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 Century 21 Ryan Realty

Investment Insights

Based on property information with market context.

Located on a busy section of Highway 22, this commercial parcel features two separate buildings. One building is a one-bedroom, one-bath mobile home that has been used as a retail auto store. The other building is also a one-bedroom, one-bath structure that has been utilized as a produce market. Both buildings have a garage at the back, which can be used for car repairs or storage. This property is located in Parker, Florida.

Key Highlights

• Prime commercial location on busy Highway 22 in Parker, FL.
• Two separate buildings on the property offer versatile usage options.
• One building previously used as a retail auto store.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,267

Cap Rate

4.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$245,340 $245.3K

Cap Rate 7%

$175,243 $175.2K

Cap Rate 9%

$136,300 $136.3K

Market Conditions

NOI Build-Up for 975 SF

Gross rent

$17.6K $18.00/SF

− Vacancy

−$1.2K −$1.22/SF

EGI

$16.4K $16.78/SF

− OpEx

−$4.1K −$4.19/SF

NOI

$12.3K $12.58/SF

Area

Bay County, FL

Vacancy

6.80%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$245,340

Cap Rate 7%

$175,243

Cap Rate 9%

$136,300

Alternative Uses

Best Use

Specialty Retail

$175.2K

$153.3K – $204.5K (±1% cap)

NOI $12,267 @ 7.0% cap · market cap 4.46%

Second Best

Retail

$152.5K

$133.5K – $177.9K (±1% cap)

NOI $10,676 @ 7.0% cap · market cap 3.88%

Theoretical Best

Office A

$284.1K

$248.6K – $331.4K (±1% cap)

NOI $19,886 @ 7.0% cap · market cap 7.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Dental Office Law Firm Real Estate Agency HVAC Service (Bike/Boat/Book/etc) Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 32404, FL

38,186

Population

18,053

Households

2.1

Avg Household Size

40

Median Age

21%

College-Educated

87%

High-School Grad

135.1 sq mi

ZIP Area

283

Density / Sq Mi

$72,208

Median Household Income

$38,701

Median Earnings

$1,355

Median Rent

$239,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Auto shop - Two buildings on a commercial parcel located on Highway 22.

Where is this auto shop located?

The property is located at 4838 Hwy 22 Callaway, FL.

What is the asking price?

The asking price for this property is $274,900.

What are key features of this property?

This property features: Prime commercial location on busy Highway 22 in Parker, FL.; Two separate buildings on the property offer versatile usage options.; One building previously used as a retail auto store.