Building Details

Building Size 2,640 SF

Year Built 1972

Listing Agency: SVN | Silveri Company p***@svn.com Show Phone

Listed By: Peter Colvin · License #6501197270 Show Phone

Source: Svn

Added: Mar 6 Changed: Aug 11 Last Checked: Aug 20 at 4:20AM

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Investment Insights

Based on property information with market context.

This investment property features a fresh 15-year absolute triple net corporate lease to Clean and Lube Incorporated. The lease includes annual rent increases during the base term and the two 15-year renewal option periods. The property is undergoing a complete renovation and will soon include two new Castrol Premium Lube Express Oil Change bays, one automatic wash, one large self-serve bay, and Clean and Lube Community Car Wash Fundraisers. The tenant is responsible for all costs associated with the property.

Key Highlights

• 15‑year absolute triple net corporate lease to Clean and Lube Incorporated.
• Annual rent increases during base term and renewal options.
• Complete renovation underway.

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

$31,050

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

3.67%

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%

$621,000 $621.0K

Cap Rate 7%

$443,571 $443.6K

Cap Rate 9%

$345,000 $345.0K

Market Conditions

NOI Build-Up for 2,640 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

$42.8K $16.20/SF

− Vacancy

−$1.4K −$0.52/SF

EGI

$41.4K $15.68/SF

− OpEx

−$10.3K −$3.92/SF

NOI

$31.0K $11.76/SF

Area

Rock Island County, IL

Vacancy

3.20%

Lease Rate

$16.20 /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%

$621,000

Cap Rate 7%

$443,571

Cap Rate 9%

$345,000

Alternative Uses

Best Use

Specialty Retail

$443.6K

$388.1K – $517.5K (±1% cap)

NOI $31,050 @ 7.0% cap · market cap 3.67%

Second Best

Retail

$311.9K

$272.9K – $363.9K (±1% cap)

NOI $21,832 @ 7.0% cap · market cap 2.58%

Theoretical Best

Healthcare Medical

$449.6K

$393.4K – $524.5K (±1% cap)

NOI $31,472 @ 7.0% cap · market cap 3.72%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Waterworks Car Wash Car Wash

Suggested Use

Top Pick Dental Office Hair Salon (Bike/Boat/Book/etc) Store Storage Facility Computer & Electronic Repair Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

96

Businesses Nearby

25k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 76% Dining 24%

7-Eleven Shops & Services

8,573 visits/mo 0.2 miles

Dollar General Shops & Services

7,200 visits/mo 0.2 miles

Happy Joe's Dining

4,997 visits/mo 0.4 miles

BP Shops & Services

1,992 visits/mo 0.2 miles

Blackhawk Bank Shops & Services

1,197 visits/mo 0.3 miles

Demographics for 61240, IL

5,902

Population

2,561

Households

2.3

Avg Household Size

47

Median Age

33%

College-Educated

95%

High-School Grad

36.4 sq mi

ZIP Area

162

Density / Sq Mi

$108,929

Median Household Income

$65,737

Median Earnings

$231,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this car washes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Car wash - Car wash with long-term corporate lease and renovation.

Where is this car wash located?

The property is located at 102 E 3rd St Coal Valley, IL.

What is the asking price?

The asking price for this property is $845,000.

What are key features of this property?

This property features: 15‑year absolute triple net corporate lease to Clean and Lube Incorporated.; Annual rent increases during base term and renewal options.; Complete renovation underway.