Turnkey Car Wash Investment
For Sale
$850,000
1610 Gleneagles Boulevard, Billings, MT 59105
Well-maintained car wash with self and automatic bays.
Property Size2,503 SF
Lot Size0.45 Acres
Price / SF$339.59
Days on Market165
Property Features for 1610 Gleneagles Boulevard
General Information
Standard status
Active
Size
2,503 SF
Lot size
0.45 Acres
Property subtype
Retail
Building Details
Year Built
2005
Listing Agency:
NAI Business Properties
(406) 671-1158
Listed By:
Matt Robertson, SIOR
(406) 671-1158
Source:
Naiglobal
Added: Feb 26
Changed: Jul 10
Last Checked: Aug 10 at 3:59AM
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 NAI Business Properties
Investment Insights
Based on property information with market context.
This turnkey car wash investment opportunity is located in the Heights area of Billings. Shiny Ride Carwash, built in 2005, features three self-serve bays and one automatic bay, providing user convenience and income potential. The property includes a 2,503 square foot building on a 19,428 square foot lot. The site has concrete paving and easy access. Constructed with durable, fire-resistant materials, the car wash is equipped with three CAT pumps for the self bays and a new Razor auto wash for the auto bay. The lit intersection and prime Heights location contribute to its appeal. This site offers both owner-operator potential and passive investment appeal with minimal oversight and stable cash flow.
Key Highlights
- Turnkey car wash investment with consistent income potential.
- Prime location in Billings' Heights, a growing residential and retail corridor.
- Features a mix of self‑serve (3 bays) and automatic (1 Razor wash) options.
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
$29,803
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
3.51%
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%
$596,060
$596.1K
Cap Rate 7%
$425,757
$425.8K
Cap Rate 9%
$331,144
$331.1K
Market Conditions
NOI Build-Up for 2,503 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
$40.5K $16.20/SF
− Vacancy
−$811 −$0.32/SF
EGI
$39.7K $15.88/SF
− OpEx
−$9.9K −$3.97/SF
NOI
$29.8K $11.91/SF
Area
Billings, MT
Vacancy
2.00%
Lease Rate
$16.20 /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%
$596,060
Cap Rate 7%
$425,757
Cap Rate 9%
$331,144
Alternative Uses
Best Use
Specialty Retail
$425.8K
$372.5K – $496.7K
NOI $29,803 @ 7.0% cap · market cap 3.51%
Second Best
Retail
$366.1K
$320.3K – $427.1K
NOI $25,624 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$546.1K
$477.9K – $637.2K
NOI $38,230 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 59105, MT
33,310
Population
14,198
Households
2.3
Avg Household Size
37
Median Age
30%
College-Educated
96%
High-School Grad
95.9 sq mi
ZIP Area
347
Density / Sq Mi
$74,572
Median Household Income
$44,359
Median Earnings
$1,261
Median Rent
$314,900
Median Home Value
Market
Vacancy Rate% for Retail in West 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?
Car wash - Well-maintained car wash with self and automatic bays.
Where is this car wash located?
The property is located at 1610 Gleneagles Boulevard Billings, MT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Turnkey car wash investment with consistent income potential.; Prime location in Billings' Heights, a growing residential and retail corridor.; Features a mix of self‑serve (3 bays) and automatic (1 Razor wash) options.
