Updated Self-Service Car
For Sale
$429,000
14510 Pulaski Road, Midlothian, IL 60445
Updated facility with a touchless bay and card-enabled vacuum stations.
Property Size4,375 SF
Days on Market222
Property Features for 14510 Pulaski Road
General Information
Standard status
Active
Size
4,375 SF
Property subtype
Business Opportunity
Zoning
COMMR
Additional Details
Business Included
Yes
Car Wash Bays
1
Taxes and HOA fees
Annual Taxes
$25,696
Amenities
credit card payment
vacuum stations
Building Details
Building Size
4,375 SF
Year Renovated
2023
Stories
1
Listing Agency:
Century 21 Circle
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(773) 465-4200
Source:
Perillorealestategroup
Added: Jan 8
Changed: Aug 15
Last Checked: Aug 17 at 11:43PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
The property includes a self-service car wash facility and the associated business. The site has one touchless wash bay, and the facility was fully updated in 2023.
Customers can use credit cards at the vacuum stations, adding a cashless payment option beyond the wash equipment. The property is located at 14510 Pulaski Road in Midlothian, Illinois, and the sale includes both the real estate and business.
Customers can use credit cards at the vacuum stations, adding a cashless payment option beyond the wash equipment. The property is located at 14510 Pulaski Road in Midlothian, Illinois, and the sale includes both the real estate and business.
Key Highlights
- One touchless wash bay
- Facility fully updated in 2023
- Credit card payments available at vacuum stations
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
$18,833
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
4.39%
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%
$376,660
$376.7K
Cap Rate 7%
$269,043
$269.0K
Cap Rate 9%
$209,256
$209.3K
Market Conditions
NOI Build-Up for 4,375 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
$28.4K $6.48/SF
− Vacancy
−$1.4K −$0.33/SF
EGI
$26.9K $6.15/SF
− OpEx
−$8.1K −$1.84/SF
NOI
$18.8K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$376,660
Cap Rate 7%
$269,043
Cap Rate 9%
$209,256
Alternative Uses
Best Use
Specialty Retail
$1.05M
$915.5K – $1.22M
NOI $73,238 @ 7.0% cap · market cap 17.07%
Second Best
Retail
$867.5K
$759.1K – $1.01M
NOI $60,726 @ 7.0% cap · market cap 14.16%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,734 @ 7.0% cap · market cap 24.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
40k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 81%
Shops & Services 19%
McDonald's
Dining
23,579 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,624 visits/mo
0.2 miles
Old National Bank
Shops & Services
5,683 visits/mo
0.3 miles
Extra Space Storage
Shops & Services
1,706 visits/mo
0.4 miles
Demographics for 60445, IL
14,692
Population
6,228
Households
2.4
Avg Household Size
37
Median Age
19%
College-Educated
88%
High-School Grad
4.3 sq mi
ZIP Area
3,417
Density / Sq Mi
$68,385
Median Household Income
$46,480
Median Earnings
$1,202
Median Rent
$201,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self service car wash - Updated facility with a touchless bay and card-enabled vacuum stations.
Where is this self service car wash located?
The property is located at 14510 Pulaski Road Midlothian, IL.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: One touchless wash bay; Facility fully updated in 2023; Credit card payments available at vacuum stations
