Operating Car Wash For
For Sale
$1,200,000
14615 E Jefferson Ave, Detroit, MI 48215
Car wash and detail shop with renovation plans included.
Property Size6,350 SF
Lot Size0.22 Acres
Days on Market166
Property Features for 14615 E Jefferson Ave
General Information
Standard status
Active
Size
6,350 SF
Lot size
0.22 Acres
Property subtype
Commercial
Building Details
Building Size
6,350 SF
Year Built
1969
Listing Agency:
C3 CRE, LLC
(248) 220-1110
Listed By:
Corbin Yaldoo · License #6502431997
(248) 220-1110
Source:
Elliman
Added: Mar 10
Changed: Aug 9
Last Checked: Aug 21 at 8:15AM
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 C3 CRE, LLC
Investment Insights
Based on property information with market context.
An operating car wash and detail shop is available for sale, including the real estate and business license. Municipal approved plans are in place for future renovations, including upgrades to the building facade, a new equipment package, and expansion for more vacuums to the vacant land at the rear of the site. The property benefits from strong visibility and access along Jefferson Avenue, a high-traffic area, and features prominent pylon signage. It serves consistent customers from local residents and commuters in surrounding neighborhoods such as the Marina District, Grosse Pointe Park, Riverbend, and Jefferson Chalmers. The site is surrounded by a dense residential community and benefits from retail synergy with national and regional tenants. The property is also located 1.5 miles from the Stellantis Jefferson North Assembly Plant, which employs over 5,000 people. The location on Jefferson Avenue supports automotive and retail business. An assumable land contract for seller financing is available for an operator or investor.
Key Highlights
- Operating car wash and detail shop with real estate and business license included.
- Assumable land contract for seller financing available.
- Municipal approved plans for future renovations and expansion.
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
$83,799
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
6.98%
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%
$1,675,980
$1.7M
Cap Rate 7%
$1,197,129
$1.2M
Cap Rate 9%
$931,100
$931.1K
Market Conditions
NOI Build-Up for 6,350 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
$118.1K $18.60/SF
− Vacancy
−$6.4K −$1.00/SF
EGI
$111.7K $17.60/SF
− OpEx
−$27.9K −$4.40/SF
NOI
$83.8K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,675,980
Cap Rate 7%
$1,197,129
Cap Rate 9%
$931,100
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,799 @ 7.0% cap · market cap 6.98%
Second Best
Retail
$1.12M
$977.7K – $1.30M
NOI $78,212 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,058 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
7,058 visits/mo
0.0 miles
Shell
Shops & Services
3,931 visits/mo
0.3 miles
Citgo
Shops & Services
848 visits/mo
0.5 miles
Demographics for 48215, MI
10,520
Population
6,044
Households
1.7
Avg Household Size
41
Median Age
19%
College-Educated
85%
High-School Grad
3.9 sq mi
ZIP Area
2,697
Density / Sq Mi
$33,741
Median Household Income
$36,728
Median Earnings
$897
Median Rent
$105,400
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Car wash and detail shop with renovation plans included.
Where is this car wash located?
The property is located at 14615 E Jefferson Ave Detroit, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Operating car wash and detail shop with real estate and business license included.; Assumable land contract for seller financing available.; Municipal approved plans for future renovations and expansion.
