Turnkey Auto Spa
For Sale
Contact for pricing
Pending
15865 Dixie Highway, Harvey, IL 60426
Fully operational auto spa offering additional on-site income through an included cafe and separate gaming room.
Property Size4,900 SF
Days on Market372
Property Features for 15865 Dixie Highway
General Information
Standard status
Pending
Size
4,900 SF
Property subtype
Business for Sale
Zoning
COMMR
Additional Details
Business Included
Yes
Amenities
on-site cafe
gaming room
flexible space
Listing Agency:
Keller Williams ONEChicago
(773) 697-5555
Listed By:
DJ Peoples · License #475157028
Source:
Crexi
Added: Aug 3, 2025
Changed: Aug 8
Last Checked: Jul 24 at 5:34PM
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 Keller Williams ONEChicago
Investment Insights
Based on property information with market context.
This turnkey auto spa is presented as a clean, thoughtfully designed, fully operational facility. The property includes an on-site cafe intended to provide an additional revenue stream, along with a separate gaming room. There is also flexible space that can be rented or operated, depending on how the next owner wants to run the business.
The property is located at 15865 Dixie Highway in Harvey, IL 60426. The seller is described as motivated, and serious buyers are encouraged to inquire for financials and operational details.
Overall, it is being marketed as a complete business opportunity centered on the auto spa operation, supplemented by the cafe and gaming room features already built into the site’s setup.
The property is located at 15865 Dixie Highway in Harvey, IL 60426. The seller is described as motivated, and serious buyers are encouraged to inquire for financials and operational details.
Overall, it is being marketed as a complete business opportunity centered on the auto spa operation, supplemented by the cafe and gaming room features already built into the site’s setup.
Key Highlights
- Fully operational auto spa setup
- On‑site cafe provides an additional income stream
- Separate gaming room adds potential entertainment and revenue
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
$21,093
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
6.03%
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%
$421,860
$421.9K
Cap Rate 7%
$301,329
$301.3K
Cap Rate 9%
$234,367
$234.4K
Market Conditions
NOI Build-Up for 4,900 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
$31.8K $6.48/SF
− Vacancy
−$1.6K −$0.33/SF
EGI
$30.1K $6.15/SF
− OpEx
−$9.0K −$1.84/SF
NOI
$21.1K $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%
$421,860
Cap Rate 7%
$301,329
Cap Rate 9%
$234,367
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,026 @ 7.0% cap · market cap 23.44%
Second Best
Retail
$971.6K
$850.2K – $1.13M
NOI $68,013 @ 7.0% cap · market cap 19.43%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,422 @ 7.0% cap · market cap 33.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Explore this area
Business Placement
Demographics for 60426, IL
24,114
Population
10,870
Households
2.2
Avg Household Size
37
Median Age
10%
College-Educated
77%
High-School Grad
7.7 sq mi
ZIP Area
3,132
Density / Sq Mi
$40,995
Median Household Income
$29,712
Median Earnings
$987
Median Rent
$88,500
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?
Car wash - Fully operational auto spa offering additional on-site income through an included cafe and separate gaming room.
Where is this car wash located?
The property is located at 15865 Dixie Highway Harvey, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Fully operational auto spa setup; On‑site cafe provides an additional income stream; Separate gaming room adds potential entertainment and revenue
