225 W Houghton Lake Drive Prudenville, MI 48651
Car wash facility offers one touchless automatic wash and four self-serve bays plus six vacuums.
Property Features for 225 W Houghton Lake Drive
General Information
- Standard status
- Active
- Size
- 2,880 SF
- Lot size
- 2.00 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2000
Listing office Coldwell Banker Schmidt Realtors-hl (989) 429-3100
Listing date Apr 12, 2025
Source Xome
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 Schmidt Realtors-hl
Investment Insights
Based on property information with market context.
The site is located on Highway M-55 on the corridor between I-75 and US-127, with frontage on both M-55 and Denton Creek. The property also spans over two acres and offers additional space that may support expansion or additional storage/parking income opportunities.
The offering includes the car wash improvements and the on-site amenities listed above, with exterior site area suitable for additional use consistent with the existing setup.
Key Highlights
- Car wash facility with 1 touchless automatic wash and 4 self‑serve bays
- Includes 6 vacuums plus a vending machine and coin changers
- Site sits on over 2 acres with over 200' frontage on M‑55 and over 200' frontage on Denton Creek
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.4k | $14.04 |
| − Vacancy | −$11.2k | −$3.89 |
| EGI | $29.2k | $10.15 |
| − OpEx | −$7.3k | −$2.54 |
| NOI | $21.9k | $7.61 |
