Car Wash Property with Forced Air
For Sale
$549,000
1617 Dorchester Avenue, Kalamazoo, MI 49001
COMMERCIAL - Kalamazoo, MI
Property Size5,400 SF
Lot Size0.45 Acres
Price / SF$101.67
Days on Market41
Property Features for 1617 Dorchester Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business Improv
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
just north ofI 94 on Portage rd behind circle K
Standard status
Active
APN
06-35-415-003
Size
5,400 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
BLOOMFIELD NO. 1 Lot 243, exc W 0.41ft. Also Lots 237 & 238. Also the W 30ft of Lot 244.
Tax Annual Amount
14877
Legal Description
BLOOMFIELD NO. 1 Lot 243, exc W 0.41ft. Also Lots 237 & 238. Also the W 30ft of Lot 244.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1966
Number of units
1
Building materials
Block
Listing Agency:
CENTURY 21 C. Howard
(269) 381-9258
Listed By:
David Howard
(269) 207-4228
Added: Jul 13
Changed: Aug 4
Last Checked: Aug 22 at 6:06AM
MLS# 26039877
Copyright © 2026 Michigan Regional Information Center, LLC. 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.
Car wash property offered for sale with real estate and equipment included. The building is constructed of block and contains forced air heating and a bathroom 1. Interior features include broadband, and utilities include cable available. Built in 1966, the property sits on a 0.45-acre lot and totals 5,400 SF.
Located at 1617 Dorchester Avenue in Kalamazoo, it is described as a Milwood area site just north of I-94 on busy Portage road and Dorchester.
This is a straightforward option for an operator looking for an established car wash location with the building, equipment, and core on-site infrastructure already in place.
Located at 1617 Dorchester Avenue in Kalamazoo, it is described as a Milwood area site just north of I-94 on busy Portage road and Dorchester.
This is a straightforward option for an operator looking for an established car wash location with the building, equipment, and core on-site infrastructure already in place.
Key Highlights
- 0.45‑acre car wash site
- 5,400 SF block building
- Built in 1966
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
$37,241
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
6.78%
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%
$744,820
$744.8K
Cap Rate 7%
$532,014
$532.0K
Cap Rate 9%
$413,789
$413.8K
Market Conditions
NOI Build-Up for 5,400 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
$64.8K $12.00/SF
− Vacancy
−$11.6K −$2.15/SF
EGI
$53.2K $9.85/SF
− OpEx
−$16.0K −$2.96/SF
NOI
$37.2K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$744,820
Cap Rate 7%
$532,014
Cap Rate 9%
$413,789
Alternative Uses
Best Use
Industrial
$1.16M
$1.02M – $1.36M
NOI $81,459 @ 7.0% cap · market cap 14.84%
Second Best
Specialty Retail
$723.8K
$633.3K – $844.4K
NOI $50,663 @ 7.0% cap · market cap 9.23%
Theoretical Best
Warehouse
$1.41M
$1.24M – $1.65M
NOI $98,915 @ 7.0% cap · market cap 18.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
40k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 3%
Hotels & Casinos 3%
Shell
Shops & Services
18,001 visits/mo
0.5 miles
Circle K
Shops & Services
15,836 visits/mo
Consumers Credit Union
Shops & Services
3,577 visits/mo
0.1 miles
Domino's Pizza
Dining
1,168 visits/mo
0.0 miles
Comfort Inn Wings Stadium
Hotels & Casinos
817 visits/mo
0.3 miles
Demographics for 49001, MI
21,730
Population
9,670
Households
2.2
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
2,822
Density / Sq Mi
$52,327
Median Household Income
$35,447
Median Earnings
$1,055
Median Rent
$139,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Car wash property on a 0.45-acre site with a 5,400 SF block building, forced air heat, and broadband availability.
Where is this car wash located?
The property is located at 1617 Dorchester Avenue Kalamazoo, MI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 0.45‑acre car wash site; 5,400 SF block building; Built in 1966
