Car Wash with Four
For Sale
$249,000
18 Pine Street, Corinth, NY 12822
Car wash property features four bays, including three self-serve bays and one power wash bay.
Property Size2,294 SF
Lot Size0.50 Acres
Price / SF$108.54
Days on Market57
Property Features for 18 Pine Street
General Information
Standard status
Active
Size
2,294 SF
Lot size
0.50 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Heavy Power
Yes
Service Bays
4
Taxes and HOA fees
Annual Taxes
$3,352
Amenities
Attached Garage
Metal Roof
Cleared
Concrete Flooring
Forced Air Heating
Irregular Lot
Level
Paved
Propane Tank Owned Heating
Road Frontage
Sloped
Building Details
Year Built
1989
Listing Agency:
CROSSPOINT REALTY
(518) 401-0270
Listed By:
RACHEAL VAUGHN · License #40FL1093918
(518) 307-6925
Source:
Corcoran
Added: Jul 11
Changed: Sep 4
Last Checked: Sep 5 at 10:33AM
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 CROSSPOINT REALTY
Investment Insights
Based on property information with market context.
This for-sale car wash property is built around four bays, including three self-serve bays and one power wash bay. The facility currently generates income from three vacuum stations and three of the four bays. Equipment includes a motorized pit cleaner and heated floors, supported by 3-phase electric with a 400-amp service. For winter operation, the property uses propane heat for the equipment, and a security system is in place.
The paved parking lot was repaved within the last two years. The drive-through bay is described as needing some fine-tuning, and the site includes a half-acre parcel in the town of Corinth.
Additional operational upside is noted in the remarks, including the potential to add vending machines and more vacuums, alongside existing vacuum and bay usage.
The paved parking lot was repaved within the last two years. The drive-through bay is described as needing some fine-tuning, and the site includes a half-acre parcel in the town of Corinth.
Additional operational upside is noted in the remarks, including the potential to add vending machines and more vacuums, alongside existing vacuum and bay usage.
Key Highlights
- Car wash on a half‑acre lot in the town of Corinth with 4 bays: 3 self‑serve bays and 1 power wash bay
- Current income from 3 vacuum stations and 3 of the 4 bays
- 3‑phase electric with 400 amp service plus propane heat for equipment during winter months
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
Current Use
Lease Details
4
Service bays
Turnkey business
Opportunity
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
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?
Self service car wash - Car wash property features four bays, including three self-serve bays and one power wash bay.
Where is this self service car wash located?
The property is located at 18 Pine Street 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 on a half‑acre lot in the town of Corinth with 4 bays: 3 self‑serve bays and 1 power wash bay; Current income from 3 vacuum stations and 3 of the 4 bays; 3‑phase electric with 400 amp service plus propane heat for equipment during winter months
