Car Wash on 0.48
For Sale
$775,000
115 SOUTH STREET, Front Royal, VA 22630
Car wash on 0.48 acres in excellent location.
Property Size2,000 SF
Lot Size0.48 Acres
Price / SF$387.50
Days on Market221
Property Features for 115 SOUTH STREET
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.48 Acres
Property subtype
Commercial
Building Details
Year Built
2006
Listing Agency:
Classic Realty LTD
(703) 891-4520
Listed By:
Tam T Luong · License #0225202980
(571) 232-1878
Source:
Cummingsrealtors
Added: Jan 26
Changed: Sep 3
Last Checked: Sep 4 at 5:15AM
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 Classic Realty LTD
Investment Insights
Based on property information with market context.
This car wash property is situated on a 0.48-acre lot. Zoned C1, the site is connected to public water and sewer systems. The property is being sold in its current condition and is located in an excellent location.
Key Highlights
- Excellent location for car wash
- Zoned C1
- Lot size: 0.48 acres
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
$66,903
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
8.63%
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%
$1,338,060
$1.3M
Cap Rate 7%
$955,757
$955.8K
Cap Rate 9%
$743,367
$743.4K
Market Conditions
NOI Build-Up for 2,000 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
$100.1K $50.04/SF
− Vacancy
−$4.5K −$2.25/SF
EGI
$95.6K $47.79/SF
− OpEx
−$28.7K −$14.34/SF
NOI
$66.9K $33.45/SF
Area
Warren County, VA
Vacancy
4.50%
Lease Rate
$50.04 /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%
$1,338,060
Cap Rate 7%
$955,757
Cap Rate 9%
$743,367
Alternative Uses
Best Use
Specialty Retail
$1.11M
$972.0K – $1.30M
NOI $77,760 @ 7.0% cap · market cap 10.03%
Second Best
Retail
$955.8K
$836.3K – $1.12M
NOI $66,903 @ 7.0% cap · market cap 8.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
285k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 26%
Home Improvements & Furnishings 17%
Groceries 15%
Rural King
Home Improvements & Furnishings
47,374 visits/mo
0.3 miles
Martin's Food Market
Groceries
39,443 visits/mo
0.2 miles
McDonald's
Dining
26,710 visits/mo
0.2 miles
7-Eleven
Shops & Services
19,575 visits/mo
0.4 miles
Starbucks
Dining
17,036 visits/mo
0.4 miles
Demographics for 22630, VA
33,829
Population
14,465
Households
2.3
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
121.9 sq mi
ZIP Area
278
Density / Sq Mi
$84,513
Median Household Income
$44,771
Median Earnings
$1,183
Median Rent
$329,500
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 - Car wash on 0.48 acres in excellent location.
Where is this car wash located?
The property is located at 115 SOUTH STREET Front Royal, VA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Excellent location for car wash; Zoned C1; Lot size: 0.48 acres
