Twenty-Four-Hour Self-Service Car
For Sale
Contact for pricing
19595 15 Mile Rd, Clinton Township, MI 48035
OS-1-zoned car wash with multiple service bays, vacuum stations, and additional land on 15 Mile Rd.
Property Size3,570 SF
Price / SF$266.11
Days on Market160
Property Features for 19595 15 Mile Rd
General Information
Standard status
Active
Size
3,570 SF
Property subtype
Retail
Zoning
OS-1
Net Operating Income
$76,295
Financials
Cap Rate
8.03%
Business Included
Yes
Additional Details
Road Access
Yes
Car Wash Bays
8
Amenities
vacuum stations
extra-wide bays
Building Details
Year Built
1967
Listing Agency:
P.A. Commercial Corporate & Investment Real Estate
(248) 281-9904
Listed By:
Phillip Myers · License #MI 6501333084
Source:
Crexi
Added: Mar 24
Changed: Aug 30
Last Checked: Aug 30 at 10:04AM
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 P.A. Commercial Corporate & Investment Real Estate
Investment Insights
Based on property information with market context.
This self-service car wash property includes a 3,570-square-foot facility with eight washing bays and five vacuum stations. The operation runs 24 hours and includes extra-wide bays designed for larger vehicles. Built in 1967, the site is zoned OS-1 and includes additional land beyond the operating area.
The property is located at 19595 15 Mile Rd in Clinton Township, Michigan, with 160 feet of frontage along the road. Its configuration combines established car wash improvements with dedicated vacuum service and room on the site beyond the existing facility. The offering includes an 8.03% cap rate.
The property is located at 19595 15 Mile Rd in Clinton Township, Michigan, with 160 feet of frontage along the road. Its configuration combines established car wash improvements with dedicated vacuum service and room on the site beyond the existing facility. The offering includes an 8.03% cap rate.
Key Highlights
- 8.03% cap rate
- 3,570‑square‑foot facility built in 1967
- Eight self‑service washing bays and five vacuum stations
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
$46,785
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
4.92%
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%
$935,700
$935.7K
Cap Rate 7%
$668,357
$668.4K
Cap Rate 9%
$519,833
$519.8K
Market Conditions
NOI Build-Up for 3,570 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
$70.7K $19.80/SF
− Vacancy
−$8.3K −$2.33/SF
EGI
$62.4K $17.47/SF
− OpEx
−$15.6K −$4.37/SF
NOI
$46.8K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /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%
$935,700
Cap Rate 7%
$668,357
Cap Rate 9%
$519,833
Alternative Uses
Best Use
Specialty Retail
$668.4K
$584.8K – $779.8K
NOI $46,785 @ 7.0% cap · market cap 4.92%
Second Best
Retail
$377.0K
$329.9K – $439.8K
NOI $26,389 @ 7.0% cap · market cap 2.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
90k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 25%
Home Improvements & Furnishings 13%
McDonald's
Dining
22,510 visits/mo
0.1 miles
Wendy's
Dining
12,116 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
11,232 visits/mo
0.2 miles
Taco Bell
Dining
10,061 visits/mo
0.5 miles
Burger King
Dining
8,580 visits/mo
0.3 miles
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - OS-1-zoned car wash with multiple service bays, vacuum stations, and additional land on 15 Mile Rd.
Where is this self service car wash located?
The property is located at 19595 15 Mile Rd Clinton Township, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 8.03% cap rate; 3,570‑square‑foot facility built in 1967; Eight self‑service washing bays and five vacuum stations
