Former Car Wash
New
For Sale
$230,000
133 W Hebble Ave, Fairborn, OH 45324
Existing improvements are not operational and require rehabilitation before reuse.
Property Size2,968 SF
Lot Size1.34 Acres
Price / SF$77.49
Days on Market4
Property Features for 133 W Hebble Ave
General Information
Standard status
Active
Size
2,968 SF
Lot size
1.34 Acres
Property subtype
Land
Property Condition
Severity
Repairs Needed
Evidence
will require investment and improvements
Additional Details
Asking Price
$230,000
Road Access
Yes
Land Use
commercial
Building Details
Buildings
1
Listing Agency:
Howard Hanna Real Estate Serv
(937) 654-7355
Listed By:
Jonathan H Murray
(937) 654-7355
Source:
Exprealty
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 7:33PM
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 Howard Hanna Real Estate Serv
Investment Insights
Based on property information with market context.
This approximately 1.34-acre commercial property includes a 2,968-square-foot structure that previously operated as a car wash. The facility is currently inactive and is being offered in its existing condition, with rehabilitation and improvements needed before resuming that use.
The property combines an existing commercial building with a sizable land component, providing a foundation for evaluating restoration, adaptive reuse, or redevelopment. Any proposed use, including questions involving condition, equipment, utilities, zoning, permitted uses, and feasibility, requires independent due diligence with the City of Fairborn. The site is located at 133 Hebble Ave in Fairborn, Ohio, within the greater Dayton market.
The property combines an existing commercial building with a sizable land component, providing a foundation for evaluating restoration, adaptive reuse, or redevelopment. Any proposed use, including questions involving condition, equipment, utilities, zoning, permitted uses, and feasibility, requires independent due diligence with the City of Fairborn. The site is located at 133 Hebble Ave in Fairborn, Ohio, within the greater Dayton market.
Key Highlights
- Approximately 1.34 acres of commercial property
- Existing 2,968‑square‑foot former car wash structure
- Facility is not currently operational
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
$18,356
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
7.98%
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%
$367,120
$367.1K
Cap Rate 7%
$262,229
$262.2K
Cap Rate 9%
$203,956
$204.0K
Market Conditions
NOI Build-Up for 2,968 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
$28.1K $9.48/SF
− Vacancy
−$1.9K −$0.64/SF
EGI
$26.2K $8.84/SF
− OpEx
−$7.9K −$2.65/SF
NOI
$18.4K $6.18/SF
Area
Greene County, OH
Vacancy
6.80%
Lease Rate
$9.48 /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%
$367,120
Cap Rate 7%
$262,229
Cap Rate 9%
$203,956
Alternative Uses
Best Use
Specialty Retail
$474.7K
$415.4K – $553.9K
NOI $33,232 @ 7.0% cap · market cap 14.45%
Second Best
Retail
$400.0K
$350.0K – $466.7K
NOI $28,003 @ 7.0% cap · market cap 12.18%
Theoretical Best
Office B
$558.1K
$488.3K – $651.1K
NOI $39,064 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
89k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 42%
Hotels & Casinos 1%
McDonald's
Dining
20,332 visits/mo
0.1 miles
Dollar Tree
Shops & Services
10,821 visits/mo
0.2 miles
Taco Bell
Dining
10,602 visits/mo
0.2 miles
Dollar General
Shops & Services
9,658 visits/mo
0.5 miles
Speedway
Shops & Services
8,665 visits/mo
0.5 miles
Demographics for 45324, OH
40,449
Population
19,729
Households
2.1
Avg Household Size
34
Median Age
30%
College-Educated
92%
High-School Grad
33.1 sq mi
ZIP Area
1,222
Density / Sq Mi
$59,861
Median Household Income
$37,348
Median Earnings
$989
Median Rent
$177,700
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?
Car wash - Existing improvements are not operational and require rehabilitation before reuse.
Where is this car wash located?
The property is located at 133 W Hebble Ave Fairborn, OH.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Approximately 1.34 acres of commercial property; Existing 2,968‑square‑foot former car wash structure; Facility is not currently operational
