Car Wash with Building and
For Sale
$549,000
1617 DORCHESTER AVE, Kalamazoo, MI 49001
Car-wash equipment and the associated building are included in the sale.
Property Size5,400 SF
Price / SF$101.67
Days on Market29
Property Features for 1617 DORCHESTER AVE
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Business Opportunities
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
3
1202648913230132
Building Details
Year Built
1966
Listing Agency:
CENTURY 21 C. Howard
(269) 381-9258
Listed By:
David Howard
Source:
Xome
Added: Jul 11
Changed: Aug 3
Last Checked: Aug 7 at 1:33AM
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 C. Howard
Investment Insights
Based on property information with market context.
This 5,400-square-foot car wash property includes both the building and equipment. Constructed in 1966, the asset combines an established automotive-use facility with its operating components in a single sale. The property is located at 1617 Dorchester Ave. in Kalamazoo, just north of I-94 and near Portage Road. Several businesses are situated nearby, adding commercial activity to the surrounding area.
Key Highlights
- 5,400‑square‑foot car wash property
- Building and equipment included in the sale
- Built in 1966
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
$37,241
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
6.78%
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%
$744,820
$744.8K
Cap Rate 7%
$532,014
$532.0K
Cap Rate 9%
$413,789
$413.8K
Market Conditions
NOI Build-Up for 5,400 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
$64.8K $12.00/SF
− Vacancy
−$11.6K −$2.15/SF
EGI
$53.2K $9.85/SF
− OpEx
−$16.0K −$2.96/SF
NOI
$37.2K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$744,820
Cap Rate 7%
$532,014
Cap Rate 9%
$413,789
Alternative Uses
Best Use
Industrial
$1.16M
$1.02M – $1.36M
NOI $81,459 @ 7.0% cap · market cap 14.84%
Second Best
Specialty Retail
$723.8K
$633.3K – $844.4K
NOI $50,663 @ 7.0% cap · market cap 9.23%
Theoretical Best
Warehouse
$1.41M
$1.24M – $1.65M
NOI $98,915 @ 7.0% cap · market cap 18.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Circle K
Shops & Services
15,836 visits/mo
0.3 miles
Consumers Credit Union
Shops & Services
3,577 visits/mo
0.4 miles
Domino's Pizza
Dining
1,168 visits/mo
0.3 miles
Demographics for 49001, MI
21,730
Population
9,670
Households
2.2
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
2,822
Density / Sq Mi
$52,327
Median Household Income
$35,447
Median Earnings
$1,055
Median Rent
$139,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest 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 - Car-wash equipment and the associated building are included in the sale.
Where is this car wash located?
The property is located at 1617 DORCHESTER AVE Kalamazoo, MI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 5,400‑square‑foot car wash property; Building and equipment included in the sale; Built in 1966
