Corner Car Wash
For Sale
$525,000
Pending
1605 W Memorial Boulevard, Lakeland, FL 33815
Commercial Sale, Lakeland, FL
Property Size2,910 SF
Lot Size0.45 Acres
Days on Market602
Property Features for 1605 W Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
33815 - Lakeland
High school district
000000
Directions
I-4 Exit Hwy 92 E. Go to Signalized Hard Corner at West Memorial and Brunnell Parkway Brunnell Pkwy.
Standard status
Pending
APN
23-28-11-033500-009010
Size
2,910 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2938
Building Details
Year built
1964
Floors in Building
1
Listing Agency:
La Rosa Realty Llc
(321) 939-3748
Listed By:
Earl Moore Jr. · License #3314553
(813) 803-0337
Added: Jan 13, 2025
Changed: Aug 22
Last Checked: Sep 7 at 7:06PM
MLS# 11408013
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.
Investment Insights
Based on property information with market context.
This car wash property includes a 2,910-square-foot commercial building on approximately 0.45 acres. Constructed in 1964, the asset is positioned on a corner parcel and offers an established automotive-oriented commercial format.
The property is located at 1605 W Memorial Boulevard in Lakeland, Florida 33815, within Polk County. Its building area and site acreage provide a defined combination of enclosed commercial space and land for a car wash operation.
The property is located at 1605 W Memorial Boulevard in Lakeland, Florida 33815, within Polk County. Its building area and site acreage provide a defined combination of enclosed commercial space and land for a car wash operation.
Key Highlights
- 2,910‑square‑foot commercial building
- Approximately 0.45‑acre site
- Corner parcel on W Memorial Boulevard
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
$37,834
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
7.21%
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%
$756,680
$756.7K
Cap Rate 7%
$540,486
$540.5K
Cap Rate 9%
$420,378
$420.4K
Market Conditions
NOI Build-Up for 2,910 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
$54.1K $18.60/SF
− Vacancy
−$3.7K −$1.26/SF
EGI
$50.4K $17.34/SF
− OpEx
−$12.6K −$4.33/SF
NOI
$37.8K $13.00/SF
Area
Lakeland, FL
Vacancy
6.80%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$756,680
Cap Rate 7%
$540,486
Cap Rate 9%
$420,378
Alternative Uses
Best Use
Specialty Retail
$540.5K
$472.9K – $630.6K
NOI $37,834 @ 7.0% cap · market cap 7.21%
Second Best
Retail
$466.8K
$408.5K – $544.7K
NOI $32,679 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$699.3K
$611.9K – $815.9K
NOI $48,951 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 23%
Wendy's
Dining
19,025 visits/mo
0.2 miles
Taco Bell
Dining
12,512 visits/mo
0.4 miles
Lakeland Ford
Shops & Services
5,072 visits/mo
0.2 miles
Mobil
Shops & Services
2,348 visits/mo
0.0 miles
Enterprise Rent-A-Car
Shops & Services
1,281 visits/mo
0.4 miles
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
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?
Car wash - Established automotive-oriented commercial property with a corner setting and an existing building.
Where is this car wash located?
The property is located at 1605 W Memorial Boulevard Lakeland, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,910‑square‑foot commercial building; Approximately 0.45‑acre site; Corner parcel on W Memorial Boulevard
