Operational Self-Serve and Automatic Car
For Sale
Contact for pricing
919 Western Ave, Toledo, OH 43609
Hard-corner car wash property with self-serve and automatic services, including the business, equipment, and real estate.
Property Size2,586 SF
Lot Size0.54 Acres
Price / SF$94.74
Days on Market544
Property Features for 919 Western Ave
General Information
Standard status
Active
Size
2,586 SF
Lot size
0.54 Acres
Property subtype
RETAIL
Additional Details
Business Included
Yes
Road Access
Yes
Building Details
Abandoned
No
Listing Agency:
Reichle | Klein Group
(419) 861-1100
Listed By:
Brent Patterson · License #0000399625
Source:
Moodyscre
Added: Feb 14, 2025
Changed: Aug 11
Last Checked: Aug 11 at 2:09PM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
This operational Caress self-serve and automatic car wash is offered for sale with the business, equipment, and real estate included. The property sits on a 0.54-acre parcel and is currently in operation, providing multiple car cleaning services.
The site is located on a hard corner of Anthony Wayne Trail and Western Ave. Traffic exposure is noted as approximately 30,000 vehicles per day on Anthony Wayne Trail and 9,000 vehicles per day on Western Ave.
The overall offering combines revenue-generating operations with the underlying car wash real estate, creating a straightforward ownership structure for an operator or buyer seeking a running car wash at a high-traffic intersection.
The site is located on a hard corner of Anthony Wayne Trail and Western Ave. Traffic exposure is noted as approximately 30,000 vehicles per day on Anthony Wayne Trail and 9,000 vehicles per day on Western Ave.
The overall offering combines revenue-generating operations with the underlying car wash real estate, creating a straightforward ownership structure for an operator or buyer seeking a running car wash at a high-traffic intersection.
Key Highlights
- 0.54‑acre parcel for the Caress self‑serve and automatic car wash
- Self‑serve and automatic car wash operations currently operational
- Includes business, equipment, and real estate
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
$19,690
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
8.04%
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%
$393,800
$393.8K
Cap Rate 7%
$281,286
$281.3K
Cap Rate 9%
$218,778
$218.8K
Market Conditions
NOI Build-Up for 2,586 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
$27.9K $10.80/SF
− Vacancy
−$1.7K −$0.65/SF
EGI
$26.3K $10.15/SF
− OpEx
−$6.6K −$2.54/SF
NOI
$19.7K $7.61/SF
Area
Toledo, OH
Vacancy
6.00%
Lease Rate
$10.80 /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%
$393,800
Cap Rate 7%
$281,286
Cap Rate 9%
$218,778
Alternative Uses
Best Use
Specialty Retail
$281.3K
$246.1K – $328.2K
NOI $19,690 @ 7.0% cap · market cap 8.04%
Second Best
Retail
$240.9K
$210.8K – $281.0K
NOI $16,860 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$430.4K
$376.6K – $502.1K
NOI $30,126 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Marco's Pizza
Dining
2,887 visits/mo
0.4 miles
Demographics for 43609, OH
20,519
Population
10,272
Households
2
Avg Household Size
34
Median Age
11%
College-Educated
79%
High-School Grad
4.8 sq mi
ZIP Area
4,275
Density / Sq Mi
$42,510
Median Household Income
$32,819
Median Earnings
$913
Median Rent
$58,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Hard-corner car wash property with self-serve and automatic services, including the business, equipment, and real estate.
Where is this self service car wash located?
The property is located at 919 Western Ave Toledo, OH.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 0.54‑acre parcel for the Caress self‑serve and automatic car wash; Self‑serve and automatic car wash operations currently operational; Includes business, equipment, and real estate
