Turnkey Car Wash
For Sale
Contact for pricing
1723 S Miami Boulevard, Durham, NC 27703
Established, fully operational car wash configured for immediate operation and income production.
Property Size4,474 SF
Price / SF$379.97
Days on Market58
Property Features for 1723 S Miami Boulevard
General Information
Standard status
Active
Size
4,474 SF
Property subtype
Special Purpose
Zoning
Commercial General (CG)
Investment Type
Stabilized
Net Operating Income
$170,262
Additional Details
Business Included
Yes
Building Details
Tenancy
Single
Listing Agency:
CityPlat LLC
(919) 698-8799
Listed By:
Graham Storey · License #NC 298847
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 11 at 7:16AM
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 CityPlat LLC
Investment Insights
Based on property information with market context.
This established car wash facility is offered as a turnkey ownership opportunity. The property is fully operational, and the business is described as income-producing and cash-flowing from day one. It is positioned for an owner-operator or an investor seeking a car wash with operating status at the time of sale.
The property is located at 1723 S Miami Blvd in Durham, North Carolina. The listing provides a specific street address for access and due diligence, and the offering is marketed as a proven, operating site rather than a redevelopment or value-add concept.
For prospective buyers, the practical advantage here is continuity of operations, since the facility is already operating and characterized as income-producing in the provided materials. This type of asset can be an effective fit for buyers who want an automotive-focused business with an operational track record at closing, subject to standard underwriting, inspections, and review of all operational and financial documents during due diligence.
The property is located at 1723 S Miami Blvd in Durham, North Carolina. The listing provides a specific street address for access and due diligence, and the offering is marketed as a proven, operating site rather than a redevelopment or value-add concept.
For prospective buyers, the practical advantage here is continuity of operations, since the facility is already operating and characterized as income-producing in the provided materials. This type of asset can be an effective fit for buyers who want an automotive-focused business with an operational track record at closing, subject to standard underwriting, inspections, and review of all operational and financial documents during due diligence.
Key Highlights
- Established, fully operational car wash at 1723 S Miami Blvd in Durham
- Income‑producing property configured for immediate operation and income production
- Car wash is fully operational and cash‑flowing from day one
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
$65,885
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
3.88%
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%
$1,317,700
$1.3M
Cap Rate 7%
$941,214
$941.2K
Cap Rate 9%
$732,056
$732.1K
Market Conditions
NOI Build-Up for 4,474 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
$94.0K $21.00/SF
− Vacancy
−$6.1K −$1.37/SF
EGI
$87.8K $19.64/SF
− OpEx
−$22.0K −$4.91/SF
NOI
$65.9K $14.73/SF
Area
Durham, NC
Vacancy
6.50%
Lease Rate
$21.00 /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%
$1,317,700
Cap Rate 7%
$941,214
Cap Rate 9%
$732,056
Alternative Uses
Best Use
Specialty Retail
$941.2K
$823.6K – $1.10M
NOI $65,885 @ 7.0% cap · market cap 3.88%
Second Best
Industrial
$844.6K
$739.0K – $985.4K
NOI $59,121 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.44M
$1.26M – $1.69M
NOI $101,129 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
134k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 20%
Home Improvements & Furnishings 2%
Bojangles' Famous Chicken 'n Biscuits
Dining
33,435 visits/mo
0.0 miles
Cook Out
Dining
25,679 visits/mo
0.2 miles
McDonald's
Dining
20,197 visits/mo
0.1 miles
Wendy's
Dining
16,240 visits/mo
0.2 miles
BP
Shops & Services
12,792 visits/mo
0.3 miles
Demographics for 27703, NC
61,539
Population
27,122
Households
2.3
Avg Household Size
36
Median Age
45%
College-Educated
88%
High-School Grad
49.1 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,953
Median Household Income
$51,462
Median Earnings
$1,469
Median Rent
$340,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Established, fully operational car wash configured for immediate operation and income production.
Where is this car wash located?
The property is located at 1723 S Miami Boulevard Durham, NC.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Established, fully operational car wash at 1723 S Miami Blvd in Durham; Income‑producing property configured for immediate operation and income production; Car wash is fully operational and cash‑flowing from day one
