Established Self-Serve Car
For Sale
Contact for pricing
19501 PLYMOUTH Road, Detroit, MI 48228
High-traffic, 4-bay car wash with income potential.
Property Size1,944 SF
Price / SF$133.74
Days on Market553
Property Features for 19501 PLYMOUTH Road
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Retail
Building Details
Year Built
1967
Listing Agency:
RE/MAX Team 2000
(313) 525-1101
Listed By:
Yousef Beydoun · License #6501354088
Source:
Crexi
Added: Feb 4, 2025
Changed: Aug 8
Last Checked: Aug 10 at 2:35PM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This established self-serve car wash features 4 bays and is located on a major road in a densely populated area with easy freeway access. The property has undergone recent renovations and features newer, well-maintained equipment. It is strategically located near a variety of national retailers, ensuring consistent visibility and customer flow. The property size is 1944 square feet.
Key Highlights
- High‑traffic location on a major road in a densely populated area
- Easy freeway access
- Newer, well‑maintained equipment
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
$11,408
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
4.39%
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%
$228,160
$228.2K
Cap Rate 7%
$162,971
$163.0K
Cap Rate 9%
$126,756
$126.8K
Market Conditions
NOI Build-Up for 1,944 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
$17.0K $8.76/SF
− Vacancy
−$732 −$0.38/SF
EGI
$16.3K $8.38/SF
− OpEx
−$4.9K −$2.51/SF
NOI
$11.4K $5.87/SF
Area
ZIP 48228
Vacancy
4.30%
Lease Rate
$8.76 /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%
$228,160
Cap Rate 7%
$162,971
Cap Rate 9%
$126,756
Alternative Uses
Best Use
Specialty Retail
$379.9K
$332.4K – $443.2K
NOI $26,594 @ 7.0% cap · market cap 10.23%
Second Best
Retail
$342.1K
$299.3K – $399.1K
NOI $23,944 @ 7.0% cap · market cap 9.21%
Theoretical Best
Office A
$399.3K
$349.4K – $465.8K
NOI $27,950 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Electronics 11%
Citgo
Shops & Services
4,331 visits/mo
0.1 miles
AutoZone
Shops & Services
3,432 visits/mo
0.2 miles
Sunoco
Shops & Services
2,592 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
1,322 visits/mo
0.2 miles
Maaco
Shops & Services
572 visits/mo
0.1 miles
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self service car wash - High-traffic, 4-bay car wash with income potential.
Where is this self service car wash located?
The property is located at 19501 PLYMOUTH Road Detroit, MI.
What is the asking price?
The asking price for this property is $259,999.
What are key features of this property?
This property features: High‑traffic location on a major road in a densely populated area; Easy freeway access; Newer, well‑maintained equipment
