7-Bay Self-Service Car
For Sale
$550,000
12299 W Center Avenue, Denver, CO 80228
Operating car wash with existing coin-operated, mechanical, and plumbing systems in place.
Property Size4,030 SF
Lot Size0.57 Acres
Price / SF$136.48
Days on Market13
Property Features for 12299 W Center Avenue
General Information
Standard status
Active
Size
4,030 SF
Lot size
0.57 Acres
Property subtype
Commercial/Industrial
Zoning
C-2
Additional Details
Utilities to Site
Yes
Car Wash Bays
7
Taxes and HOA fees
Annual Taxes
$7,582
Building Details
Year Built
1982
Buildings
1
Construction
brick veneer
Abandoned
No
Listing Agency:
DNVR Realty & Financing LLC
(303) 350-8142
Listed By:
Thu Le · License #100095382
(303) 350-8142
Source:
Exitrealty
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 1:32PM
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 DNVR Realty & Financing LLC
Investment Insights
Based on property information with market context.
This self-service car wash includes 7 bays within a 4,030-square-foot brick veneer building constructed in 1982. The facility is operating, with core mechanical, plumbing, and coin-operated systems installed and functional. The property is offered in as-is condition.
The improvements occupy a level 24,829-square-foot lot, equivalent to 0.57 acres, at 12299 W Center Avenue. C-2 zoning supports the property’s current commercial setting and provides a basis for evaluating continued operation or future commercial redevelopment. The site is positioned within the Green Mountain Plaza corridor.
The improvements occupy a level 24,829-square-foot lot, equivalent to 0.57 acres, at 12299 W Center Avenue. C-2 zoning supports the property’s current commercial setting and provides a basis for evaluating continued operation or future commercial redevelopment. The site is positioned within the Green Mountain Plaza corridor.
Key Highlights
- 7‑bay self‑service car wash
- 4,030‑square‑foot brick veneer facility built in 1982
- 24,829‑square‑foot level lot measuring 0.57 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
$34,228
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
6.22%
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%
$684,560
$684.6K
Cap Rate 7%
$488,971
$489.0K
Cap Rate 9%
$380,311
$380.3K
Market Conditions
NOI Build-Up for 4,030 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
$53.2K $13.20/SF
− Vacancy
−$4.3K −$1.07/SF
EGI
$48.9K $12.13/SF
− OpEx
−$14.7K −$3.64/SF
NOI
$34.2K $8.49/SF
Area
Denver, CO
Vacancy
8.08%
Lease Rate
$13.20 /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%
$684,560
Cap Rate 7%
$488,971
Cap Rate 9%
$380,311
Alternative Uses
Best Use
Specialty Retail
$844.4K
$738.8K – $985.1K
NOI $59,107 @ 7.0% cap · market cap 10.75%
Second Best
Retail
$788.1K
$689.6K – $919.4K
NOI $55,166 @ 7.0% cap · market cap 10.03%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,803 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,269
Businesses Nearby
202k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Groceries 28%
Shops & Services 22%
Apparel 6%
King Soopers
Groceries
50,345 visits/mo
0.3 miles
McDonald's
Dining
28,002 visits/mo
0.3 miles
Shell
Shops & Services
13,890 visits/mo
0.4 miles
Starbucks
Dining
13,359 visits/mo
0.2 miles
Arc Thrift Store
Apparel
12,960 visits/mo
0.4 miles
Demographics for 80228, CO
34,836
Population
15,921
Households
2.2
Avg Household Size
40
Median Age
60%
College-Educated
96%
High-School Grad
11.5 sq mi
ZIP Area
3,029
Density / Sq Mi
$110,013
Median Household Income
$62,872
Median Earnings
$1,819
Median Rent
$607,300
Median Home Value
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Operating car wash with existing coin-operated, mechanical, and plumbing systems in place.
Where is this self service car wash located?
The property is located at 12299 W Center Avenue Denver, CO.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 7‑bay self‑service car wash; 4,030‑square‑foot brick veneer facility built in 1982; 24,829‑square‑foot level lot measuring 0.57 acres
