Car Wash with Multiple
For Sale
$849,000
19162 Huron River Dr, New Boston, MI 48164
Includes a leased commercial building and a house requiring renovation on the same property.
Property Size2,593 SF
Price / SF$327.42
Days on Market587
Property Features for 19162 Huron River Dr
General Information
Standard status
Active
Size
2,593 SF
Property subtype
Other
Zoning
CBD
Additional Details
Car Wash Bays
5
Listing Agency:
Five Star Real Estate (Grandv)
(616) 304-1015
Listed By:
Drew Born · License #479011514
(616) 304-1015
Source:
Carwm.resimplifi
Added: Jan 20, 2025
Changed: Aug 29
Last Checked: Aug 29 at 11:00PM
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 Five Star Real Estate (Grandv)
Investment Insights
Based on property information with market context.
This car wash property at 19162 Huron River Dr in New Boston, MI includes one touchless automatic bay and four self-service bays. The site also contains a commercial building that is fully leased, along with a house that has been cleared and requires renovation.
The property is zoned CBD and combines operating car wash improvements with additional existing structures. The house may be renovated for future use, while the commercial building remains occupied under its current leasing arrangement.
The property is zoned CBD and combines operating car wash improvements with additional existing structures. The house may be renovated for future use, while the commercial building remains occupied under its current leasing arrangement.
Key Highlights
- One touchless automatic car wash bay
- Four self‑service car wash bays
- Fully leased commercial building included
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
$33,605
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
3.96%
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%
$672,100
$672.1K
Cap Rate 7%
$480,071
$480.1K
Cap Rate 9%
$373,389
$373.4K
Market Conditions
NOI Build-Up for 2,593 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
$46.7K $18.00/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$44.8K $17.28/SF
− OpEx
−$11.2K −$4.32/SF
NOI
$33.6K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /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%
$672,100
Cap Rate 7%
$480,071
Cap Rate 9%
$373,389
Alternative Uses
Best Use
Specialty Retail
$480.1K
$420.1K – $560.1K
NOI $33,605 @ 7.0% cap · market cap 3.96%
Second Best
Retail
$351.0K
$307.1K – $409.5K
NOI $24,569 @ 7.0% cap · market cap 2.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
6,430 visits/mo
0.1 miles
PNC Bank
Shops & Services
3,282 visits/mo
0.2 miles
Pantry
Shops & Services
1,375 visits/mo
0.4 miles
Demographics for 48164, MI
9,676
Population
3,625
Households
2.7
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
30.3 sq mi
ZIP Area
319
Density / Sq Mi
$111,173
Median Household Income
$57,148
Median Earnings
$1,495
Median Rent
$313,700
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 - Includes a leased commercial building and a house requiring renovation on the same property.
Where is this car wash located?
The property is located at 19162 Huron River Dr New Boston, MI.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: One touchless automatic car wash bay; Four self‑service car wash bays; Fully leased commercial building included
