Established Service Garage Business
For Sale
Contact for pricing
2973 Philips Hwy, Jacksonville, FL 32207
Commercial property with an established service garage business for sale.
Property Size2,339 SF
Price / SF$341.47
Days on Market858
Property Features for 2973 Philips Hwy
General Information
Standard status
Active
Size
2,339 SF
Property subtype
Retail
Zoning
CCG-2
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$30,078
Building Details
Year Built
1941
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Landmark Commercial Realty Group Inc
Listed By:
Stephen Nebrat · License #BK605752
(904) 477-1017
Source:
Crexi
Added: Jun 13, 2024
Changed: Oct 15
Last Checked: Oct 16 at 6:06AM
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 Landmark Commercial Realty Group Inc
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Investment Insights
Based on property information with market context.
This commercial property, with a size of 2339 square feet, features an established service garage business. It presents an opportunity for investors or entrepreneurs seeking a turnkey operation. The property is currently used by the owner. Seller may entertain Seller Financing with 50% down.
Key Highlights
- Established service garage business included.
- Turnkey operation for investors or entrepreneurs.
- Potential for Seller Financing with 50% down.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,436
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,720
$528.7K
Cap Rate 7%
$377,657
$377.7K
Cap Rate 9%
$293,733
$293.7K
Market Conditions
NOI Build-Up for 2,339 SF
Gross rent
$42.1K $18.00/SF
− Vacancy
−$4.3K −$1.85/SF
EGI
$37.8K $16.15/SF
− OpEx
−$11.3K −$4.84/SF
NOI
$26.4K $11.30/SF
Area
Jacksonville, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,720
Cap Rate 7%
$377,657
Cap Rate 9%
$293,733
Alternative Uses
Best Use
Retail
$377.7K
$330.5K – $440.6K
NOI $26,436 @ 7.0% cap · market cap 3.31%
Second Best
Industrial
$185.7K
$162.5K – $216.6K
NOI $12,997 @ 7.0% cap · market cap 1.63%
Theoretical Best
Office A
$640.8K
$560.7K – $747.6K
NOI $44,853 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
2,131 visits/mo
0.1 miles
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property with an established service garage business for sale.
Where is this auto shop located?
The property is located at 2973 Philips Hwy Jacksonville, FL.
What is the asking price?
The asking price for this property is $798,700.
What are key features of this property?
This property features: Established service garage business included.; Turnkey operation for investors or entrepreneurs.; Potential for Seller Financing with 50% down.
