Established Automotive Business For
For Sale
Contact for pricing
922 US-70, Garner, NC 27529
Turn-key automotive business with versatile CMX zoning and high visibility.
Property Size8,323 SF
Lot Size0.60 Acres
Price / SF$264.33
Days on Market141
Property Features for 922 US-70
General Information
Standard status
Active
Size
8,323 SF
Lot size
0.60 Acres
Property subtype
Retail
Zoning
CMX
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1965
Units
2
Tenancy
Single
Listing Agency:
Matthews
(813) 488-0853
Listed By:
Lleyton Buscher · License #SL 3637338
Source:
Crexi
Added: Mar 24
Changed: Aug 10
Last Checked: Aug 11 at 3:33PM
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 Matthews
Investment Insights
Based on property information with market context.
This established automotive business, operating for over 52 years, is offered as a turn-key operation with a diversified and stable revenue base. Significant potential remains for operational efficiencies and revenue growth. The sale includes all FF&E, such as a paint booth, lifts, frame machines, alignment equipment, and air compressor, enabling immediate continuation of operations. The property benefits from versatile CMX zoning, permitting a wide range of commercial and mixed-use applications. The facility features eight bay doors of varying sizes, allowing efficient workflow and high vehicle throughput. It is purpose-built with downdraft flooring enhancing operational efficiency and environmental control. Located within a designated Opportunity Zone, the property offers potential tax advantages. The heated space measures approximately 8,323 square feet, including two separate office areas, storage, and expansive service areas. The approximately 0.6-acre parcel supports around 40 customer parking spaces. The property has prominent frontage along US Highway 70, with traffic counts of approximately 37,320 vehicles per day. Garner has experienced approximately 15.65% population growth between 2023–2024, adding nearly 21,000 residents within a 5-mile radius. The property offers owner-user or investment optionality, allowing an owner-operator to occupy the entire facility or lease a portion for passive income generation.
Key Highlights
- Turn‑Key Automotive Business: Established operation with diversified revenue, all FF&E included.
- Versatile CMX Zoning: Permits a wide range of commercial and mixed‑use applications.
- High‑Visibility Location: Prominent frontage on US Highway 70 with high traffic count.
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
$147,678
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
6.71%
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%
$2,953,560
$3.0M
Cap Rate 7%
$2,109,686
$2.1M
Cap Rate 9%
$1,640,867
$1.6M
Market Conditions
NOI Build-Up for 8,323 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
$224.7K $27.00/SF
− Vacancy
−$13.8K −$1.65/SF
EGI
$211.0K $25.35/SF
− OpEx
−$63.3K −$7.60/SF
NOI
$147.7K $17.74/SF
Area
Wake County, NC
Vacancy
6.12%
Lease Rate
$27.00 /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%
$2,953,560
Cap Rate 7%
$2,109,686
Cap Rate 9%
$1,640,867
Alternative Uses
Best Use
Retail
$2.11M
$1.85M – $2.46M
NOI $147,678 @ 7.0% cap · market cap 6.71%
Second Best
Industrial
$761.0K
$665.9K – $887.8K
NOI $53,270 @ 7.0% cap · market cap 2.42%
Theoretical Best
Specialty Retail
$2.38M
$2.08M – $2.77M
NOI $166,350 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
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.
Frequently Asked Questions
What type of property is this?
Auto shop - Turn-key automotive business with versatile CMX zoning and high visibility.
Where is this auto shop located?
The property is located at 922 US-70 Garner, NC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Turn‑Key Automotive Business: Established operation with diversified revenue, all FF&E included.; Versatile CMX Zoning: Permits a wide range of commercial and mixed‑use applications.; High‑Visibility Location: Prominent frontage on US Highway 70 with high traffic count.
