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    Turnkey Car Wash Business Opportunity Title is generated by Realmo AI

    1600 Washington Ave, Frankfort, IN 46041

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    Established car wash in Frankfort, IN with multiple revenue streams.

    Type:Special Purpose
    Property size:
    3,412 SF
    Lot size:
    1.48 Acres
    Price / SF:
    $285/SF
    Added:
    Sep 5, 2025
    Days on Market:
    250
    Last Refresh:
    Mar 16 at 1:25 pm

    Property Features for 1600 Washington Ave

    General Information

    Standard status
    Active
    Size
    3,412 SF
    Lot size
    1.48 Acres
    Property subtype
    Special Purpose

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Josh Deno

    Listing agent Josh Deno License #IN

    Listing office Shook Commercial Real Estate

    Listing date Sep 5, 2025

    Source Crexi

    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 Shook Commercial Real Estate

    HighLights

    • 1.48‑acre turnkey car wash business with a blend of self‑serve and automated systems.
    • Multiple wash options including self‑serve bays, automatic brush, and automatic brushless systems.
    • Strong revenue stream with low overhead and minimal staffing needs.
    • Well‑maintained property with timely upgrades and a reputation for cleanliness.
    • Efficient layout promoting smooth traffic flow and reduced wait times.
    • Seven vacuum stations for a comprehensive customer experience.

    Overview

    This turnkey car wash business is situated on a 1.48-acre parcel in Frankfort, IN. The facility combines self-serve convenience with modern automated systems. It features 5 self-serve bays equipped with high-pressure wands, foam brushes, and user-friendly controls. The property also includes 1 automatic brush system and 1 automatic brushless system suitable for vehicles with sensitive paint. A drying bay is located at the exit of all units. There are 7 vacuum stations available for customer use. The car wash offers multiple wash options and an efficient layout designed for smooth traffic flow. Modern payment systems are in place. The property has been consistently maintained with timely upgrades and replacements. Its reputation for cleanliness and dependable service has resulted in repeat business and positive community feedback. The property size is 3412 square feet. This car wash is suited for entrepreneurs or passive investors seeking a proven asset, first-time business owners, real estate investors, and local entrepreneurs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Washington Avenue Car ... Car Wash

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Clinton
    State
    Indiana
    Longitude
    -86.493829
    Latitude
    40.288031

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    FAQs

    What type of property is this?
    Car wash - Established car wash in Frankfort, IN with multiple revenue streams.
    Where is this car wash located?
    The property is located at 1600 Washington Ave Frankfort, IN.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: 1.48‑acre turnkey car wash business with a blend of self‑serve and automated systems.; Multiple wash options including self‑serve bays, automatic brush, and automatic brushless systems.; Strong revenue stream with low overhead and minimal staffing needs.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Josh Deno
    Real Estate License ID: IN
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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