Freestanding Car Wash
For Sale
Contact for pricing
1291 Lake Washington Road Bldg 2, Melbourne, FL 32935
Former car wash with parking and direct Lake Washington frontage, offering as-is occupancy or a build-to-suit configuration.
Property Size13,704 SF
Price / SF$0.34
Days on Market49
Property Features for 1291 Lake Washington Road Bldg 2
General Information
Standard status
Active
Size
13,704 SF
Building Details
Buildings
1
Listing Agency:
Waterman Real Estate Inc.
(321) 244-7653
Listed By:
Meili Viera Porter · License #3215665
(321) 848-7344
Source:
Startbrevardsearch
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 8:57AM
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 Waterman Real Estate Inc.
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Investment Insights
Based on property information with market context.
This freestanding commercial property includes approximately 3,700 square feet and was formerly operated as a car wash. The existing improvements can support an as-is occupancy plan, while a build-to-suit alternative is also available for a substantially reconfigured commercial or flex facility. Parking and usable land accompany the building, providing additional operational flexibility.
The property has direct frontage on Lake Washington and is located at 1291 Lake Washington Road, Building 2, in Melbourne. Its freestanding layout, existing car wash improvements, and ability to accommodate either the current configuration or a newly planned build-out create multiple paths for commercial use.
The property has direct frontage on Lake Washington and is located at 1291 Lake Washington Road, Building 2, in Melbourne. Its freestanding layout, existing car wash improvements, and ability to accommodate either the current configuration or a newly planned build-out create multiple paths for commercial use.
Key Highlights
- Approximately 3,700 SF freestanding commercial building
- Former car wash facility with existing improvements
- Direct frontage on Lake Washington
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,745
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,674,900
$1.7M
Cap Rate 7%
$1,196,357
$1.2M
Cap Rate 9%
$930,500
$930.5K
Market Conditions
NOI Build-Up for 13,704 SF
Gross rent
$123.3K $9.00/SF
− Vacancy
−$3.7K −$0.27/SF
EGI
$119.6K $8.73/SF
− OpEx
−$35.9K −$2.62/SF
NOI
$83.7K $6.11/SF
Area
Brevard County, FL
Vacancy
3.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,674,900
Cap Rate 7%
$1,196,357
Cap Rate 9%
$930,500
Alternative Uses
Best Use
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,537 @ 7.0% cap · market cap 3,946.75%
Second Best
Retail
$2.26M
$1.97M – $2.63M
NOI $157,993 @ 7.0% cap · market cap 3,416.06%
Theoretical Best
Office A
$3.62M
$3.16M – $4.22M
NOI $253,085 @ 7.0% cap · market cap 5,472.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
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Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Car wash - Former car wash with parking and direct Lake Washington frontage, offering as-is occupancy or a build-to-suit configuration.
Where is this car wash located?
The property is located at 1291 Lake Washington Road Bldg 2 Melbourne, FL.
What are key features of this property?
This property features: Approximately 3,700 SF freestanding commercial building; Former car wash facility with existing improvements; Direct frontage on Lake Washington
