Auto Shop with Covered Work
New
For Sale
$1,749,000
5670 Laurel Avenue, Stock Island, FL 33040
Mixed-use zoning supports commercial and residential uses, with licenses covering repair, towing, detailing, rentals, and retail sales.
Property Size5,258 SF
Lot Size0.29 Acres
Price / SF$332.64
Days on Market3
Property Features for 5670 Laurel Avenue
General Information
Standard status
Active
Size
5,258 SF
Lot size
0.29 Acres
Zoning
MU - Mixed Use District
Property Condition
Severity
Repairs Needed
Evidence
fair condition
Site & Location
Road Frontage
100 ft
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Land Use
commercial, mixed-use
Taxes and HOA fees
Annual Taxes
$6,816
Amenities
covered work areas
outdoor work areas
Building Details
Building Size
5,258 SF
Year Built
1980
Buildings
1
Stories
1
Construction
concrete block
Listing Agency:
RE/MAX Keys Connection (KW)
(305) 304-0084
Listed By:
Curtis A Skomp, CCIM · License #3350136
(305) 304-0084
Source:
Laerrealty
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 12:50PM
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 RE/MAX Keys Connection (KW)
Investment Insights
Based on property information with market context.
This Stock Island property includes a 5,258-square-foot, ground-level CBS building constructed in 1980. The building is in fair condition and provides both covered and outdoor work areas. A portion is occupied by the owner, while another portion is leased to a cycle shop. A replacement building may also be considered.
The property comprises two 50-by-125-foot lots, creating 100 feet of frontage and 125 feet of depth along Laurel Avenue. It is positioned behind the freestanding CVS at MM 5, with access to Overseas Highway. County zoning is MU – Mixed Use District, and the site is located in an AE flood zone. Occupational licenses include public service marine repair, towing and salvage, retail sales, auto repair, detailing, towing, and rentals.
The property comprises two 50-by-125-foot lots, creating 100 feet of frontage and 125 feet of depth along Laurel Avenue. It is positioned behind the freestanding CVS at MM 5, with access to Overseas Highway. County zoning is MU – Mixed Use District, and the site is located in an AE flood zone. Occupational licenses include public service marine repair, towing and salvage, retail sales, auto repair, detailing, towing, and rentals.
Key Highlights
- Two 50' x 125' lots totaling 100' of frontage x 125' deep on Laurel Ave
- 5,258 sf ground‑level CBS building constructed in 1980
- Covered and outdoor work areas included
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
$72,560
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
4.15%
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%
$1,451,200
$1.5M
Cap Rate 7%
$1,036,571
$1.0M
Cap Rate 9%
$806,222
$806.2K
Market Conditions
NOI Build-Up for 5,258 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
$126.2K $24.00/SF
− Vacancy
−$10.1K −$1.92/SF
EGI
$116.1K $22.08/SF
− OpEx
−$43.5K −$8.28/SF
NOI
$72.6K $13.80/SF
Area
Monroe County, FL
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,451,200
Cap Rate 7%
$1,036,571
Cap Rate 9%
$806,222
Alternative Uses
Best Use
Mixed Use
$1.04M
$907.0K – $1.21M
NOI $72,560 @ 7.0% cap · market cap 4.15%
Second Best
Retail
$1.02M
$891.4K – $1.19M
NOI $71,312 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $148,048 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
21k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Apparel 10%
Home Improvements & Furnishings 5%
Chevron
Shops & Services
8,288 visits/mo
0.4 miles
Shell
Shops & Services
4,294 visits/mo
0.4 miles
Tom Thumb Food Stores
Shops & Services
3,405 visits/mo
0.1 miles
West Marine
Apparel
2,047 visits/mo
0.2 miles
Carquest Auto Parts
Shops & Services
1,182 visits/mo
0.2 miles
Demographics for 33040, FL
35,958
Population
19,001
Households
1.9
Avg Household Size
44
Median Age
38%
College-Educated
92%
High-School Grad
17.7 sq mi
ZIP Area
2,032
Density / Sq Mi
$79,038
Median Household Income
$42,458
Median Earnings
$2,079
Median Rent
$766,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Mixed-use zoning supports commercial and residential uses, with licenses covering repair, towing, detailing, rentals, and retail sales.
Where is this auto shop located?
The property is located at 5670 Laurel Avenue Stock Island, FL.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Two 50' x 125' lots totaling 100' of frontage x 125' deep on Laurel Ave; 5,258 sf ground‑level CBS building constructed in 1980; Covered and outdoor work areas included
