Listing Agency: Five Star Real Estate (Main)

Listed By: Danielle Lopez Show Phone

Source: Carwm.resimplifi

Added: Aug 7 Changed: Oct 10 Last Checked: Oct 16 at 5:37AM

Report an Issue

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 Five Star Real Estate (Main)

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 2.64-acre commercial property includes an operating self-service car wash and substantial undeveloped land. The additional acreage may support expansion of the existing facility or development of a complementary business, subject to applicable approvals.

The property is identified as 201-COMMERCIAL-IMPROVED and is located in Nelson Township near Sand Lake, Michigan. Potential future uses, including a gas station or liquor store, require verification with Nelson Township and the Michigan Liquor Control Commission, including any necessary licensing.

Key Highlights

• 2.64‑acre property in Nelson Township near Sand Lake, Michigan
• Operating self‑service car wash on site
• Substantial remaining acreage for expansion or additional development

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,327

Cap Rate

8.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,540 $446.5K

Cap Rate 7%

$318,957 $319.0K

Cap Rate 9%

$248,078 $248.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,612 SF

Gross rent

$30.6K $18.96/SF

− Vacancy

−$795 −$0.49/SF

EGI

$29.8K $18.47/SF

− OpEx

−$7.4K −$4.62/SF

NOI

$22.3K $13.85/SF

Area

St. Clair County, MI

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,540

Cap Rate 7%

$318,957

Cap Rate 9%

$248,078

Alternative Uses

Best Use

Specialty Retail

$319.0K

$279.1K – $372.1K (±1% cap)

NOI $22,327 @ 7.0% cap · market cap 8.76%

Second Best

Retail

$297.7K

$260.5K – $347.3K (±1% cap)

NOI $20,838 @ 7.0% cap · market cap 8.17%

Theoretical Best

Multifamily LT 5

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,829 @ 7.0% cap · market cap 33.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Self service car ...

Suggested Use

Top Pick Building Supply Dental Office Restaurant Auto Repair Shop Parking Lot & Garage Auto Parts Store

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

17

Businesses Nearby

Explore this area Business Placement

Demographics for 49343, MI

5,669

Population

2,528

Households

2.2

Avg Household Size

43

Median Age

15%

College-Educated

91%

High-School Grad

55.3 sq mi

ZIP Area

103

Density / Sq Mi

$81,722

Median Household Income

$46,050

Median Earnings

$694

Median Rent

$236,200

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

Similar For Sale Nearby

See more

Updated Storefront Retail Space

9 E Lake St, Sand Lake, MI 49343

$235,000

650 SF

View details

Downtown Bar & Pub Building

42 E Lake Street, Sand Lake, MI 49343

$175,000

3,866 SF

View details

Turn-Key Horse Boarding Facility

13806 S Locust Ave, Sand Lake, MI 49343

$340,000

17,296 SF

View details

Office Building with Walk-Out Basement

94 Cherry Street, Sand Lake, MI 49343

$394,900

43,400 SF

View details

Frequently Asked Questions

What type of property is this?

Self service car wash - Commercially zoned car wash property with additional land for expansion or another permitted business use.

Where is this self service car wash located?

The property is located at 120 S 3rd St Sand Lake, MI.

What is the asking price?

The asking price for this property is $254,900.

What are key features of this property?

This property features: 2.64‑acre property in Nelson Township near Sand Lake, Michigan; Operating self‑service car wash on site; Substantial remaining acreage for expansion or additional development