Commercial Warehouse in Holly
For Sale
Contact for pricing
1627 State Avenue, Daytona Beach, FL 32117
Operating body shop and car restoration warehouse for sale.
Property Size3,750 SF
Lot Size0.23 Acres
Price / SF$119.97
Days on Market655
Property Features for 1627 State Avenue
General Information
Standard status
Active
Size
3,750 SF
Lot size
0.23 Acres
Property subtype
Industrial
Building Details
Year Built
1980
Listing Agency:
Simply Real Estate
(386) 677-0870
Listed By:
Kelly Ferguson · License #3383676
Source:
Crexi
Added: Oct 27, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:52AM
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 Simply Real Estate
Investment Insights
Based on property information with market context.
This commercial warehouse, formerly a body shop and car restoration company, presents a commercial opportunity in Holly Hill's industrial district. The warehouse offers 3,750 square feet of space on a lot exceeding 10,000 square feet. An additional 450 square feet is available for development into office or storage space. The building includes a lift, compressor, air lines, and a paint booth. The existing layout features front office space and storage. A new roof was installed in February 2024. The property is situated on a commercial corridor with proximity to other industrial buildings.
Key Highlights
- 3,750 sq ft warehouse on a 10,000+ sq ft lot in a bustling commercial corridor
- Ideal for automotive businesses with existing lift, compressor, air lines, and paint booth
- Additional 450 sq ft available for development into office or storage space
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
$35,319
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
7.85%
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%
$706,380
$706.4K
Cap Rate 7%
$504,557
$504.6K
Cap Rate 9%
$392,433
$392.4K
Market Conditions
NOI Build-Up for 3,750 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
$56.3K $15.00/SF
− Vacancy
−$5.8K −$1.55/SF
EGI
$50.5K $13.46/SF
− OpEx
−$15.1K −$4.04/SF
NOI
$35.3K $9.42/SF
Area
Volusia County, FL
Vacancy
10.30%
Lease Rate
$15.00 /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%
$706,380
Cap Rate 7%
$504,557
Cap Rate 9%
$392,433
Alternative Uses
Best Use
Retail
$504.6K
$441.5K – $588.7K
NOI $35,319 @ 7.0% cap · market cap 7.85%
Second Best
Industrial
$318.9K
$279.1K – $372.1K
NOI $22,326 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$1.11M
$967.5K – $1.29M
NOI $77,400 @ 7.0% cap · market cap 17.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
65k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Shops & Services 37%
Dining 16%
Publix
Groceries
30,419 visits/mo
0.4 miles
Dollar Tree
Shops & Services
12,942 visits/mo
0.2 miles
7-Eleven
Shops & Services
10,641 visits/mo
0.2 miles
SONIC Drive In
Dining
8,845 visits/mo
0.3 miles
Hungry Howie's Pizza
Dining
1,654 visits/mo
0.1 miles
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Absolute Car Service — 433 Walker St, Daytona Beach, FL 32117
- Eman Auto Sales — 1336 Center Ave, Holly Hill, FL 32117
- MOYE'S AUTO SALVAGE & JUNK YARD USED AUTO PARTS DAYTONA BEACH — 1339 Center Ave, Holly Hill, FL 32117
- (FRANK'S) now under MOYE'S USED AUTO PARTS — 1339 Center Ave, Daytona Beach, FL 32117
- B&G Wholesale Tire — 433 Walker St Unit 4A, Holly Hill, FL 32117
Frequently Asked Questions
What type of property is this?
Auto shop - Operating body shop and car restoration warehouse for sale.
Where is this auto shop located?
The property is located at 1627 State Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 3,750 sq ft warehouse on a 10,000+ sq ft lot in a bustling commercial corridor; Ideal for automotive businesses with existing lift, compressor, air lines, and paint booth; Additional 450 sq ft available for development into office or storage space
