Indoor Car Wash and Detailing
For Sale
$75,000
1211 Lake Shore Drive, Homer, AK 99603
Fully equipped operation in a leased facility with a year-round service model.
Property Size1,070 SF
Price / SF$70.09
Days on Market15
Property Features for 1211 Lake Shore Drive
General Information
Standard status
Active
Size
1,070 SF
Property subtype
Business Opportunities
Additional Details
Business Included
Yes
Amenities
3
Metal
5 Parking Spaces.
Concrete
Building Details
Year Built
2023
Listing Agency:
Berkshire Hathaway HomeServices Alaska Realty
(907) 399-6183
Listed By:
Gina Pelaia · License #16355
(907) 399-6183
Source:
Xome
Added: Aug 4
Changed: Aug 15
Last Checked: Aug 18 at 5:18AM
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 Berkshire Hathaway HomeServices Alaska Realty
Investment Insights
Based on property information with market context.
Homer Auto Spa is an indoor car wash and auto detailing business operating from a leased facility at 1211 Lake Shore Drive in Homer, Alaska. The operation is fully equipped and provides car wash and professional detailing services throughout the year. The facility was built in 2023 and includes 5 parking spaces, concrete construction, and metal exterior elements.
The lease may be transferred to a qualified buyer, subject to applicable approval. The business has established operating systems, repeat customers, and a reported 5-star review history. Its service model is designed for Alaska’s climate, with the indoor setting supporting consistent operations across the seasons.
The lease may be transferred to a qualified buyer, subject to applicable approval. The business has established operating systems, repeat customers, and a reported 5-star review history. Its service model is designed for Alaska’s climate, with the indoor setting supporting consistent operations across the seasons.
Key Highlights
- Established indoor car wash and auto detailing business
- Leased facility may transfer to a qualified buyer
- 2023‑built facility at 1211 Lake Shore Drive, Homer, AK 99603
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
$6,618
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
8.82%
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%
$132,360
$132.4K
Cap Rate 7%
$94,543
$94.5K
Cap Rate 9%
$73,533
$73.5K
Market Conditions
NOI Build-Up for 1,070 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
$10.1K $9.48/SF
− Vacancy
−$690 −$0.64/SF
EGI
$9.5K $8.84/SF
− OpEx
−$2.8K −$2.65/SF
NOI
$6.6K $6.18/SF
Area
Kenai Peninsula County, AK
Vacancy
6.80%
Lease Rate
$9.48 /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%
$132,360
Cap Rate 7%
$94,543
Cap Rate 9%
$73,533
Alternative Uses
Best Use
Specialty Retail
$304.5K
$266.5K – $355.3K
NOI $21,317 @ 7.0% cap · market cap 28.42%
Second Best
Retail
$246.0K
$215.3K – $287.0K
NOI $17,221 @ 7.0% cap · market cap 22.96%
Theoretical Best
Multifamily LT 5
$7.42M
$6.49M – $8.66M
NOI $519,472 @ 7.0% cap · market cap 692.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Demographics for 99603, AK
10,766
Population
6,251
Households
1.7
Avg Household Size
43
Median Age
39%
College-Educated
94%
High-School Grad
1,068.8 sq mi
ZIP Area
10
Density / Sq Mi
$76,368
Median Household Income
$41,530
Median Earnings
$1,236
Median Rent
$345,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Fully equipped operation in a leased facility with a year-round service model.
Where is this car wash located?
The property is located at 1211 Lake Shore Drive Homer, AK.
What is the asking price?
The asking price for this property is $75,000.
What are key features of this property?
This property features: Established indoor car wash and auto detailing business; Leased facility may transfer to a qualified buyer; 2023‑built facility at 1211 Lake Shore Drive, Homer, AK 99603
