Auto Service Garage
For Sale
$490,000
5910 N 40TH STREET, Tampa, FL 33610
Built in 1987, this auto service and repair garage is offered as real estate only, with land and building conveying.
Property Size1,440 SF
Price / SF$340.28
Days on Market51
Property Features for 5910 N 40TH STREET
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Mixed Use
Zoning
RS-50
Additional Details
Highway Access
Yes
Amenities
0.44 acres, Dimensions: 100x107, Corner Lot, City Limits
Public Sewer
Additional parcels description:, Parcel Number: A-33-28-19-48S-000000-00064.0, Public Survey Range: 19, Public Survey Section: 33, Annual Amount: $3,374.83, Tax Book Number: 29-14, Legal Description: MORA SUBDIVISION LOTS 64 65 66 AND 67 LESS RD R/W, Lot: 64,65,66,67, Year: 2025, Zoning: RS-50
Listing ID: MFRTB8526050, Standard Status: Active, MLS Status: Active, Property Subtype: Mixed Use, On market as of 2026-07-05, 9 days on market, Special Conditions: None
Built in 1957, Living area: 1440, Living area units: Square Feet, Building faces East, 1 storey, Construction Materials: Frame
Subdivision: MORA SUB, MLS Area (Major): 33610 - Tampa / East Lake, County/Parish: Hillsborough
Other structures: Workshop
Sidewalks
Public, Water Source: Public
Slab
Frontage Type: City Street, Road Responsibility: Public Maintained Road, Road Surface: Asphalt
Building Details
Year Built
1957
Listing Agency:
LAURA FERGUSON REALTY
(813) 546-3552
Listed By:
Laura Ferguson · License #3120720
Source:
Miharaandassociates
Added: Jul 5
Changed: Aug 23
Last Checked: Aug 24 at 6:14AM
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 LAURA FERGUSON REALTY
Investment Insights
Based on property information with market context.
This sale includes an existing automotive service and repair garage building constructed in 1987. The business is not for sale, and no equipment, tools, lifts, inventory, or other business assets are included. Only the land and building will convey.
The property is zoned RS-50 and has Hillsborough County Property Appraiser use codes REI0 and COE2. The seller notes that buyers should verify zoning, permitted uses, licensing requirements, redevelopment opportunities, and any grandfathered or legal nonconforming use status with the appropriate governmental authorities.
The structure has historically been utilized as an automotive service/repair garage. The listing also emphasizes convenient access to major roadways.
The property is zoned RS-50 and has Hillsborough County Property Appraiser use codes REI0 and COE2. The seller notes that buyers should verify zoning, permitted uses, licensing requirements, redevelopment opportunities, and any grandfathered or legal nonconforming use status with the appropriate governmental authorities.
The structure has historically been utilized as an automotive service/repair garage. The listing also emphasizes convenient access to major roadways.
Key Highlights
- Auto service/repair garage building built in 1987, offered for sale as real estate only (land and building convey).
- Business is not for sale; no equipment, tools, lifts, inventory, or other business assets included in the sale.
- Zoned RS‑50; Hillsborough County Property Appraiser use codes REI0 and COE2.
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
$16,602
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
3.39%
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%
$332,040
$332.0K
Cap Rate 7%
$237,171
$237.2K
Cap Rate 9%
$184,467
$184.5K
Market Conditions
NOI Build-Up for 1,440 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
$25.9K $18.00/SF
− Vacancy
−$2.2K −$1.53/SF
EGI
$23.7K $16.47/SF
− OpEx
−$7.1K −$4.94/SF
NOI
$16.6K $11.53/SF
Area
ZIP 33610
Vacancy
8.50%
Lease Rate
$18.00 /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%
$332,040
Cap Rate 7%
$237,171
Cap Rate 9%
$184,467
Alternative Uses
Best Use
Retail
$237.2K
$207.5K – $276.7K
NOI $16,602 @ 7.0% cap · market cap 3.39%
Second Best
Industrial
$132.3K
$115.7K – $154.3K
NOI $9,259 @ 7.0% cap · market cap 1.89%
Theoretical Best
Office A
$332.1K
$290.6K – $387.5K
NOI $23,249 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
12k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Dining 7%
Electronics 5%
Citgo
Shops & Services
7,633 visits/mo
0.2 miles
Value Pawn & Jewelry
Shops & Services
2,728 visits/mo
0.4 miles
Salem's Gyros & Subs
Dining
809 visits/mo
0.3 miles
Metro by T-Mobile
Electronics
567 visits/mo
0.2 miles
Demographics for 33610, FL
45,218
Population
17,995
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
82%
High-School Grad
18.0 sq mi
ZIP Area
2,512
Density / Sq Mi
$49,765
Median Household Income
$34,773
Median Earnings
$1,307
Median Rent
$210,600
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Built in 1987, this auto service and repair garage is offered as real estate only, with land and building conveying.
Where is this auto shop located?
The property is located at 5910 N 40TH STREET Tampa, FL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Auto service/repair garage building built in 1987, offered for sale as real estate only (land and building convey).; Business is not for sale; no equipment, tools, lifts, inventory, or other business assets included in the sale.; Zoned RS‑50; Hillsborough County Property Appraiser use codes REI0 and COE2.
