Five-Bay Self-Service Car
For Sale
$450,000
134 Patterson Lane, Meridianville, AL 35759
Business Opportunity, Meridianville, AL
Property Size1,968 SF
Lot Size0.98 Acres
Price / SF$228.66
Days on Market225
Property Features for 134 Patterson Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Driveway
Interior features
Compressor
Directions
North On 231/431 To Meridianville - Left On Patterson Lane - Property Is On Left After Circle K Gas Station
Standard status
Active
APN
0706130003001.001
Size
1,968 SF
Lot size
0.98 Acres
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Propane (Heating)
Cooling system
Window Unit(s)
Water source
Public
Amenities
credit card & coin acceptance
vacuums
tire air machine
drop shelve vendors
equipment room
septic permitted by ADEM
Building Details
Year built
1989
Floors in Building
1
Flooring type
Concrete
Roof type
Metal, Composition
Listing Agency:
Ecs Realty
(256) 919-9074
Listed By:
Chuck Valosen · License #90309
(256) 489-2602
Added: Feb 14
Changed: Sep 12
Last Checked: Sep 27 at 11:06AM
MLS# 21896816
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-service car wash includes five wash bays, an equipment room, five vacuums, a tire air machine, and five drop-shelf vendors. Customer payment equipment accepts both credit cards and coins. The property also includes a spot-free system, air compressor, water softener, chemical distribution equipment, and chemical holding systems. Bay equipment includes Mark VI systems with CAT pumps. The building measures 1,968 square feet and was built in 1989, with concrete flooring, a bathroom, public water, and septic service.
Located at 134 Patterson Lane in Meridianville, the property sits next to a Circle K. The facility is permitted by ADEM to use septic service. The current owner, a Realtor, is willing to provide six weeks of training to the new owner.
Located at 134 Patterson Lane in Meridianville, the property sits next to a Circle K. The facility is permitted by ADEM to use septic service. The current owner, a Realtor, is willing to provide six weeks of training to the new owner.
Key Highlights
- Five‑bay self‑service car wash with 1,968 square feet of improvements
- Payment equipment accepts credit cards and coins
- Five vacuums, tire air machine, and five drop‑shelf vendors
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
$27,489
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
6.11%
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%
$549,780
$549.8K
Cap Rate 7%
$392,700
$392.7K
Cap Rate 9%
$305,433
$305.4K
Market Conditions
NOI Build-Up for 1,968 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
$37.8K $19.20/SF
− Vacancy
−$1.1K −$0.58/SF
EGI
$36.7K $18.62/SF
− OpEx
−$9.2K −$4.66/SF
NOI
$27.5K $13.97/SF
Area
Madison County, AL
Vacancy
3.00%
Lease Rate
$19.20 /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%
$549,780
Cap Rate 7%
$392,700
Cap Rate 9%
$305,433
Alternative Uses
Best Use
Specialty Retail
$392.7K
$343.6K – $458.2K
NOI $27,489 @ 7.0% cap · market cap 6.11%
Second Best
Retail
$343.6K
$300.7K – $400.9K
NOI $24,053 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$512.5K
$448.4K – $597.9K
NOI $35,873 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
47k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 24%
Circle K
Shops & Services
11,401 visits/mo
0.1 miles
Jack's Family Restaurants
Dining
11,190 visits/mo
0.1 miles
Redstone Federal Credit Union
Shops & Services
10,204 visits/mo
0.2 miles
Dollar General
Shops & Services
6,004 visits/mo
0.3 miles
Regions Bank
Shops & Services
3,933 visits/mo
0.5 miles
Demographics for 35759, AL
9,894
Population
4,785
Households
2.1
Avg Household Size
39
Median Age
40%
College-Educated
90%
High-School Grad
18.5 sq mi
ZIP Area
535
Density / Sq Mi
$98,374
Median Household Income
$58,858
Median Earnings
$1,242
Median Rent
$272,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Self-service facility includes automated payment capability, vacuum stations, tire inflation equipment, and vending fixtures.
Where is this self service car wash located?
The property is located at 134 Patterson Lane Meridianville, AL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Five‑bay self‑service car wash with 1,968 square feet of improvements; Payment equipment accepts credit cards and coins; Five vacuums, tire air machine, and five drop‑shelf vendors
