Turnkey Car Wash & Quick
For Sale
$1,395,000
1020 Hospital Dr, Batavia, OH 45103
High-performing car wash and quick lube on 0.91 acres.
Property Size6,786 SF
Lot Size0.91 Acres
Price / SF$205.57
Days on Market221
Property Features for 1020 Hospital Dr
General Information
Standard status
Active
Size
6,786 SF
Lot size
0.91 Acres
Building Details
Year Built
1996
Listing Agency:
Coldwell Banker Com Reliant Re
Listed By:
Michael J Bastin
(513) 520-4525
Source:
Finn-team
Added: Jan 26
Changed: Sep 4
Last Checked: Sep 2 at 2:00AM
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 Coldwell Banker Com Reliant Re
Investment Insights
Based on property information with market context.
This turnkey operation, Batavia Car Wash & Quick Lube, is situated on 0.91 acres. It features a 5-bay car wash, which was completely rebuilt in 2016, encompassing 2,800 square feet with 2 automatic bays and 3 self-service bays. Additionally, there is a vacant 1,408-square-foot quick lube building equipped with 2 bay pits and scissor lifts, along with a 1,170-square-foot storage barn. The car wash includes all associated equipment and mechanical systems. With a consistent operating history, this property presents a solid opportunity for investors and owner-operators to generate increased revenue and profitability.
Key Highlights
- High‑performing, turnkey car wash and quick lube operation on 0.91 acres.
- Car wash building completely rebuilt in 2016 with new equipment and mechanical systems.
- Includes a 5‑bay car wash (2 auto bays & 3 self‑serve).
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
$79,839
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
5.72%
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%
$1,596,780
$1.6M
Cap Rate 7%
$1,140,557
$1.1M
Cap Rate 9%
$887,100
$887.1K
Market Conditions
NOI Build-Up for 6,786 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
$142.5K $21.00/SF
− Vacancy
−$36.1K −$5.31/SF
EGI
$106.5K $15.69/SF
− OpEx
−$26.6K −$3.92/SF
NOI
$79.8K $11.77/SF
Area
Clermont County, OH
Vacancy
25.30%
Lease Rate
$21.00 /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%
$1,596,780
Cap Rate 7%
$1,140,557
Cap Rate 9%
$887,100
Alternative Uses
Best Use
Specialty Retail
$1.14M
$998.0K – $1.33M
NOI $79,839 @ 7.0% cap · market cap 5.72%
Second Best
Retail
$941.6K
$823.9K – $1.10M
NOI $65,909 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,162 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
147k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 40%
Hotels & Casinos 1%
McDonald's
Dining
36,349 visits/mo
0.2 miles
United Dairy Farmers
Shops & Services
21,569 visits/mo
0.2 miles
Marathon
Shops & Services
20,581 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
14,537 visits/mo
0.1 miles
Dollar Tree
Shops & Services
13,965 visits/mo
0.3 miles
Demographics for 45103, OH
35,237
Population
14,928
Households
2.4
Avg Household Size
39
Median Age
27%
College-Educated
90%
High-School Grad
85.3 sq mi
ZIP Area
413
Density / Sq Mi
$81,837
Median Household Income
$45,027
Median Earnings
$1,050
Median Rent
$242,700
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 - High-performing car wash and quick lube on 0.91 acres.
Where is this car wash located?
The property is located at 1020 Hospital Dr Batavia, OH.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: High‑performing, turnkey car wash and quick lube operation on 0.91 acres.; Car wash building completely rebuilt in 2016 with new equipment and mechanical systems.; Includes a 5‑bay car wash (2 auto bays & 3 self‑serve).
