Self-Service Car
For Sale
Contact for pricing
1351 Ashley River Road, Charleston, SC 29407
Automotive property with self-service wash operations and General Business zoning.
Property Size1,100 SF
Price / SF$454.54
Days on Market188
Property Features for 1351 Ashley River Road
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Special Purpose
Zoning
City of Charleston - GB - General Business
Building Details
Year Built
2003
Listing Agency:
Coldwell Banker Realty Summerville
(858) 243-2998
Listed By:
Dennis Leslie · License #119843
Source:
Crexi
Added: Feb 25
Changed: Aug 31
Last Checked: Aug 31 at 1:54AM
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 Coldwell Banker Realty Summerville
Investment Insights
Based on property information with market context.
This self-service car wash property was built in 2003 and is identified for automotive use. The asset carries General Business zoning under the City of Charleston designation.
The property is located at 1351 Ashley River Road in Charleston, South Carolina 29407. Its listed property size is 1,100.
The property is located at 1351 Ashley River Road in Charleston, South Carolina 29407. Its listed property size is 1,100.
Key Highlights
- Self‑service car wash property
- Built in 2003
- City of Charleston GB - General Business zoning
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
$17,799
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
3.56%
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%
$355,980
$356.0K
Cap Rate 7%
$254,271
$254.3K
Cap Rate 9%
$197,767
$197.8K
Market Conditions
NOI Build-Up for 1,100 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
$25.7K $23.40/SF
− Vacancy
−$2.0K −$1.83/SF
EGI
$23.7K $21.57/SF
− OpEx
−$5.9K −$5.39/SF
NOI
$17.8K $16.18/SF
Area
Charleston, SC
Vacancy
7.80%
Lease Rate
$23.40 /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%
$355,980
Cap Rate 7%
$254,271
Cap Rate 9%
$197,767
Alternative Uses
Best Use
Specialty Retail
$254.3K
$222.5K – $296.7K
NOI $17,799 @ 7.0% cap · market cap 3.56%
Second Best
Retail
$211.6K
$185.2K – $246.9K
NOI $14,812 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,838 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,013
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 38%
Leisure 6%
Circle K
Shops & Services
9,506 visits/mo
0.3 miles
Little Caesars Pizza
Dining
6,861 visits/mo
0.0 miles
Wine and Design
Leisure
1,046 visits/mo
0.1 miles
Extra Space Storage
Shops & Services
525 visits/mo
0.4 miles
Demographics for 29407, SC
35,373
Population
18,723
Households
1.9
Avg Household Size
39
Median Age
51%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,297
Density / Sq Mi
$80,568
Median Household Income
$51,827
Median Earnings
$1,388
Median Rent
$407,300
Median Home Value
Market
Vacancy Rate% for Retail in Charleston, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Automotive property with self-service wash operations and General Business zoning.
Where is this self service car wash located?
The property is located at 1351 Ashley River Road Charleston, SC.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Self‑service car wash property; Built in 2003; City of Charleston GB - General Business zoning
