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    Established Auto Repair Business For Sale Title is generated by Realmo AI

    5 N Line Rd, Edgartown, MA 02539

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    Profitable auto repair shop with real estate opportunity.

    Type:Industrial
    Property size:
    3,600 SF
    Lot size:
    1.19 Acres
    Price / SF:
    $222/SF
    Added:
    Aug 12, 2023
    Days on Market:
    1029
    Last Refresh:
    May 12 at 11:21 pm

    Property Features for 5 N Line Rd

    General Information

    Standard status
    Active
    Size
    3,600 SF
    Lot size
    1.19 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1997

    We can help!

    Listing Contact
    Kevin Pepe

    Listing agent Kevin Pepe

    Listing office Commercial Realty Advisors, Inc.

    Listing date Aug 12, 2023

    Source Crexi

    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 Commercial Realty Advisors, Inc.

    HighLights

    • Established auto repair business in a prime location: Martha's Vineyard Airport Industrial Park, convenient to airport and ferry.
    • High demand for services: Serves a large year‑round and seasonal population with a significant number of registered vehicles.
    • Meticulously maintained facility: +/- 3,600 Sq. Ft. steel framed warehouse with three service bays and a Massachusetts State Inspection station.
    • Profitable ground lease: +/-1.19 acre parcel with a ground lease in place for $66,000/year (2021) with fifteen years remaining.
    • Experienced and licensed staff: Includes licensed MSI inspectors and skilled technicians, with a pipeline for new talent.
    • Extensive outdoor space: Provides ample area for customer automobile storage and used car inventory.

    Overview

    Established in 1987, Cars Unlimited, Inc. is a state-of-the-art automobile repair shop located in Edgartown, Massachusetts. The business is situated in the Martha’s Vineyard Airport Industrial Park, conveniently located near the airport and the Vineyard Haven Ferry Depot. The business is housed in a meticulously maintained approximately 3,600 square foot steel framed warehouse. Approximately 2,800 square feet of shop space includes three service bays and a Massachusetts State Inspection station. Approximately 800 square feet is dedicated to a customer reception area with a front desk, a bathroom, and a second-floor office. The grounds provide extensive outdoor space for customer automobile storage and used car inventory. The approximately 1.19 acre parcel has a ground lease in place for $66,000 per year (2021). The lease was signed in 2017 and has fifteen years remaining, adjusted annually by C.P.I. The shop performs diagnostics and repairs on every automobile make and model and is a licensed MSI and commercial vehicle inspector. The service writer is an MSI inspector and is licensed to perform motorcycle and vehicle inspections. Two full-time technicians are available for diagnostics and repairs and one part-time licensed MSI inspector. The Pothiers have also developed a pipeline of new talent through a training partnership with local island schools.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Department Store Garden Center Grocery & Convenience Store Computer & Electronic Repair Bed & Breakfast Home Appliance Store Carpet & Flooring Store Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Cape & Islands Glass - MV — Airport Business Park, 8 N Line Rd, Edgartown, MA 02539
    • Cars Unlimited Inc — 5 N Line Rd, Edgartown, MA 02539

    Location Insight

    • Map
    • Local Demand
    City
    Edgartown
    County
    Dukes
    State
    Massachusetts
    Longitude
    -70.6033472
    Latitude
    41.3935673

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    FAQs

    What type of property is this?
    Auto shop - Profitable auto repair shop with real estate opportunity.
    Where is this auto shop located?
    The property is located at 5 N Line Rd Edgartown, MA.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Established auto repair business in a prime location: Martha's Vineyard Airport Industrial Park, convenient to airport and ferry.; High demand for services: Serves a large year‑round and seasonal population with a significant number of registered vehicles.; Meticulously maintained facility: +/- 3,600 Sq. Ft. steel framed warehouse with three service bays and a Massachusetts State Inspection station.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kevin Pepe
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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