Updated Self-Service Car
For Sale
$429,000
14510 Pulaski Rd, Midlothian, IL 60445
Real estate and the operating business are included in the sale.
Property Size4,375 SF
Price / SF$98.06
Days on Market40
Property Features for 14510 Pulaski Rd
General Information
Standard status
Active
Size
4,375 SF
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Car Wash Bays
1
Amenities
touchless bay
vacuum stations
Building Details
Year Renovated
2023
Listing Agency:
Century 21 Circle
(773) 983-1553
Listed By:
Mark Ahmad · License #471007186
Source:
Bktchicago
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 4:08AM
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.
This self-service car wash includes one touchless bay and was fully updated in 2023. The facility accepts credit card payments, including at the vacuum stations, and the sale includes both the real estate and business.
The property is located at 14510 Pulaski Rd in Midlothian, Illinois, along a busy traffic corridor. Multiple PINs are associated with the property.
The property is located at 14510 Pulaski Rd in Midlothian, Illinois, along a busy traffic corridor. Multiple PINs are associated with the property.
Key Highlights
- One touchless self‑service wash bay
- Facility fully updated in 2023
- Credit card payment capability at wash and 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
443
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
0.1 miles
Dunkin' Donuts
Dining
8,624 visits/mo
0.1 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
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Frequently Asked Questions
What type of property is this?
Self service car wash - Real estate and the operating business are included in the sale.
Where is this self service car wash located?
The property is located at 14510 Pulaski Rd 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 self‑service wash bay; Facility fully updated in 2023; Credit card payment capability at wash and vacuum stations
