Car Wash With
For Sale
$549,000
1617 Dorchester Avenue, Kalamazoo, MI 49001
Commercial Sale, Kalamazoo, MI
Property Size5,400 SF
Lot Size0.45 Acres
Price / SF$101.67
Days on Market65
Property Features for 1617 Dorchester Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business Improv
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
just north ofI 94 on Portage rd behind circle K
Standard status
Active
APN
06-35-415-003
Size
5,400 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
BLOOMFIELD NO. 1 Lot 243, exc W 0.41ft. Also Lots 237 & 238. Also the W 30ft of Lot 244.
Tax Annual Amount
14877
Legal Description
BLOOMFIELD NO. 1 Lot 243, exc W 0.41ft. Also Lots 237 & 238. Also the W 30ft of Lot 244.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1966
Number of units
1
Building materials
Block
Listing Agency:
CENTURY 21 C. Howard
(269) 381-9258
Listed By:
David Howard
(269) 207-4228
Added: Jul 13
Changed: Sep 7
Last Checked: Sep 15 at 10:06AM
MLS# 26039877
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This car wash property includes a 5,400-square-foot building and associated equipment on a 0.45-acre parcel. The structure was built in 1966, uses block construction, and is served by forced-air heating. Broadband and cable availability are also noted.
The property is situated on Dorchester Avenue in Kalamazoo, just north of I-94 near Portage Road and Dorchester. Nearby businesses provide additional commercial activity in the surrounding area.
The property is situated on Dorchester Avenue in Kalamazoo, just north of I-94 near Portage Road and Dorchester. Nearby businesses provide additional commercial activity in the surrounding area.
Key Highlights
- 5,400‑square‑foot building on a 0.45‑acre parcel
- Building and car wash equipment included
- Located just north of I‑94 near Portage Road and Dorchester
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
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
40k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 3%
Hotels & Casinos 3%
Shell
Shops & Services
18,001 visits/mo
0.5 miles
Circle K
Shops & Services
15,836 visits/mo
Consumers Credit Union
Shops & Services
3,577 visits/mo
0.1 miles
Domino's Pizza
Dining
1,168 visits/mo
0.0 miles
Comfort Inn Wings Stadium
Hotels & Casinos
817 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Automotive property with the building and equipment included.
Where is this car wash located?
The property is located at 1617 Dorchester Avenue 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 building on a 0.45‑acre parcel; Building and car wash equipment included; Located just north of I‑94 near Portage Road and Dorchester
