Self Service Car Wash
For Sale
$1,200,000
127 groesbeck, Mount Clemens, MI 48043
Self-service and automatic car wash with major renovations and new two-bay touchless equipment.
Property Size2,624 SF
Days on Market66
Property Features for 127 groesbeck
General Information
Standard status
Active
Size
2,624 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,543
Building Details
Building Size
2,624 SF
Year Built
1997
Listing Agency:
(248) 813-4900
Listed By:
Jack Butris · License #MI 6501294875
(248) 813-4900
Source:
Elliman
Added: Jun 18
Changed: Aug 19
Last Checked: Aug 21 at 9:29AM
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 Jack Butris
Investment Insights
Based on property information with market context.
This self-service car wash facility has undergone major renovations, including new self-service and automatic equipment. The site includes two bays with touchless wash systems and five self-service bays, supporting both customer self-wash and automated wash options.
The property is located right off the Groesbeck highway in a busy intersection. The business has been operating since 1997. The offering also includes additional land that may be purchased for expansion or future development.
The property is configured as a car wash operation with seven total wash bays (two touchless automated bays and five self-service bays), designed for continued operations with the recently installed equipment.
The property is located right off the Groesbeck highway in a busy intersection. The business has been operating since 1997. The offering also includes additional land that may be purchased for expansion or future development.
The property is configured as a car wash operation with seven total wash bays (two touchless automated bays and five self-service bays), designed for continued operations with the recently installed equipment.
Key Highlights
- Operating car wash built in 1997
- Self‑service and automatic car wash with five self‑service bays
- New two‑bay touchless wash systems installed
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
$34,388
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
2.87%
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%
$687,760
$687.8K
Cap Rate 7%
$491,257
$491.3K
Cap Rate 9%
$382,089
$382.1K
Market Conditions
NOI Build-Up for 2,624 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
$52.0K $19.80/SF
− Vacancy
−$6.1K −$2.33/SF
EGI
$45.9K $17.47/SF
− OpEx
−$11.5K −$4.37/SF
NOI
$34.4K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$687,760
Cap Rate 7%
$491,257
Cap Rate 9%
$382,089
Alternative Uses
Best Use
Specialty Retail
$491.3K
$429.9K – $573.1K
NOI $34,388 @ 7.0% cap · market cap 2.87%
Second Best
Retail
$277.1K
$242.5K – $323.3K
NOI $19,397 @ 7.0% cap · market cap 1.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
64k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 25%
Electronics 5%
McDonald's
Dining
19,042 visits/mo
0.2 miles
Taco Bell
Dining
12,729 visits/mo
0.2 miles
Dollar Tree
Shops & Services
11,776 visits/mo
0.2 miles
Dunkin' Donuts
Dining
9,271 visits/mo
0.4 miles
Little Caesars Pizza
Dining
3,411 visits/mo
0.4 miles
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest 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 - Self-service and automatic car wash with major renovations and new two-bay touchless equipment.
Where is this car wash located?
The property is located at 127 groesbeck Mount Clemens, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Operating car wash built in 1997; Self‑service and automatic car wash with five self‑service bays; New two‑bay touchless wash systems installed
