Multi-Bay Self Service Car
For Sale
$249,000
18 Pine St, Corinth, NY 12822
Car wash features four bays, heated floors, and a repaved parking lot, generating income from three vacuum units and three bays.
Property Size2,294 SF
Lot Size0.50 Acres
Price / SF$108.54
Days on Market58
Property Features for 18 Pine St
General Information
Standard status
Active
Size
2,294 SF
Lot size
0.50 Acres
Additional Details
Heavy Power
Yes
Service Bays
4
Taxes and HOA fees
Annual Taxes
$3,352
Listing Agency:
Berkshire Hathaway HomeServices Blake, REALTORS
(518) 793-6628
Listed By:
Racheal Vaughn · License #40FL1093918
(518) 307-6925
Source:
Exprealty
Added: Jul 10
Changed: Sep 2
Last Checked: Sep 5 at 1:15PM
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 Berkshire Hathaway HomeServices Blake, REALTORS
Investment Insights
Based on property information with market context.
This is a car wash property offering four bays, including three self-serve bays and one power wash bay. The site is currently generating income from three vacuum units and three of the four bays, with the drive-through bay described as needing some fine tuning. On the equipment side, the property includes a motorized pit cleaner, heated floors, and propane heat for winter operations. There is a security system in place, and utilities include three-phase electric with a 400-amp service.
Additional site improvements include a repaved parking lot completed about two years ago. The property is located in the town of Corinth, and the public remarks indicate it is the only car wash within a 10-mile radius.
The existing setup supports multiple income-producing components, with the remarks noting current vacuum and bay usage and potential to add additional vacuums and vending machines.
Additional site improvements include a repaved parking lot completed about two years ago. The property is located in the town of Corinth, and the public remarks indicate it is the only car wash within a 10-mile radius.
The existing setup supports multiple income-producing components, with the remarks noting current vacuum and bay usage and potential to add additional vacuums and vending machines.
Key Highlights
- Car wash with 4 bays: 3 self‑serve bays plus 1 power wash, with drive‑thru bay needing fine tuning
- Currently generates income from 3 vacuum units and 3 of the 4 bays
- 3‑phase electric with 400 amp service; motorized pit cleaner and heated floors
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
$14,188
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
5.70%
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%
$283,760
$283.8K
Cap Rate 7%
$202,686
$202.7K
Cap Rate 9%
$157,644
$157.6K
Market Conditions
NOI Build-Up for 2,294 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
$21.7K $9.48/SF
− Vacancy
−$1.5K −$0.64/SF
EGI
$20.3K $8.84/SF
− OpEx
−$6.1K −$2.65/SF
NOI
$14.2K $6.18/SF
Area
Saratoga County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$283,760
Cap Rate 7%
$202,686
Cap Rate 9%
$157,644
Alternative Uses
Best Use
Specialty Retail
$508.6K
$445.0K – $593.4K
NOI $35,602 @ 7.0% cap · market cap 14.30%
Second Best
Retail
$395.6K
$346.1K – $461.5K
NOI $27,690 @ 7.0% cap · market cap 11.12%
Theoretical Best
Office A
$686.6K
$600.8K – $801.1K
NOI $48,064 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,168 visits/mo
0.2 miles
Demographics for 12822, NY
6,282
Population
3,246
Households
1.9
Avg Household Size
42
Median Age
15%
College-Educated
91%
High-School Grad
67.8 sq mi
ZIP Area
93
Density / Sq Mi
$80,000
Median Household Income
$44,704
Median Earnings
$971
Median Rent
$187,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Car wash features four bays, heated floors, and a repaved parking lot, generating income from three vacuum units and three bays.
Where is this car wash located?
The property is located at 18 Pine St Corinth, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Car wash with 4 bays: 3 self‑serve bays plus 1 power wash, with drive‑thru bay needing fine tuning; Currently generates income from 3 vacuum units and 3 of the 4 bays; 3‑phase electric with 400 amp service; motorized pit cleaner and heated floors
