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    The Largest CRE Database in the US with Over 1 Million Listings

    118 S 1St St SE Clay City, IL 62824

    Sponsored
    For Sale
    $57,000

    Vacant Land - Clay City, IL

    Lot size:
    0.17 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 31 at 10:06 pm

    Property Features for 118 S 1St St SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1219204006
    Parking features
    Garage
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Building materials
    Vinyl Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Heidi Howard

    AMY LEE REALTY LLC

    Listing agent Heidi Howard (618) 662-3170

    Listing date Jan 24, 2026

    MLS# 11636073 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Laundromat and Car Wash

    This offering presents a business opportunity with two turnkey, profitable businesses available for one price. The first is a 24/7 laundromat housed in a building and equipped with all machines, supplies, and systems needed for immediate operation. Recent updates include new lighting, laundry soap and dryer sheet vending, coffee and cocoa pod vending, a candy dispenser, cash bill validators, and a credit card payment system. The second business is a 24/7 car wash, also fully operational. Improvements include new lighting, credit card machines, bill validators, new soap and rinse options, updated low-pressure chemical panels, and new foam brushes. The car wash building measures approximately 39' x 26', while the laundromat measures approximately 30' x 24', both featuring newer metal roofs. Situated in Clay City, IL, on a lot of approximately 0.17 acres, both businesses are currently profitable and well-maintained, presenting an opportunity for an owner-operator or investor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Spa & Massage Hair Salon Auto Repair Shop Nail Salon Auto Parts Store Storage Facility Bar & Pub Electrical Service Bakery

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

    Location Insight

    • Map
    • Local Demand
    City
    Clay City
    County
    Clay
    State
    Illinois
    Longitude
    -88.353031
    Latitude
    38.690027

    Nearby Similar for Sale

    • $57,000
      1,734 SF

      Turnkey Laundromat and Car Wash

      Profitable laundromat and car wash businesses offered together in Clay City.
      118 S 1St St SE, Clay City, IL 62824
      View Details
    • Contact for pricing
      2,500 SF

      Commercial Building in Clay City

      Solid block and brick commercial building in Clay City, Illinois.
      137 S Main St, Clay City, IL 62824
      View Details

    FAQs

    What type of property is this?
    Car wash - Two profitable businesses in one package: laundromat and car wash.
    Where is this car wash located?
    The property is located at 118 S 1St St SE Clay City, IL.
    What is the asking price?
    The asking price for this property is $57,000.
    What are key features of this property?
    This property features: - Two turnkey, profitable, essential businesses (Laundromat and Car Wash) included in one price.; - Both businesses are fully operational 24/7 with updated equipment and systems.; - Recent updates include credit card payment systems and bill validators for both businesses.
    (618) 662-3170
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    118 S 1St St SE Clay City, IL 62824
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    Clay City, IL 62824
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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.

    More about this property
    118 S 1St St SE Clay City, IL 62824
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    We can help!
    Listing Contact
    Heidi Howard
    (618) 662-3170
    Learn more
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