8-Bay Self-Service Wash
For Sale
$895,000
19595 15 Mile Rd Clinton, Clinton Township, MI 48035
Renovated wash facility with touchless systems, upgraded electrical capacity, and additional land for future development.
Property Size3,570 SF
Days on Market64
Property Features for 19595 15 Mile Rd Clinton
General Information
Standard status
Active
Size
3,570 SF
Property subtype
Other Hospitality
Financials
Cap Rate
8.52%
Business Included
Yes
Site & Location
Traffic Count
22,000 vehicles/day
Road Access
Yes
Utilities to Site
Yes
Additional Details
Car Wash Bays
8
Amenities
Self-Service Car Wash
Vacuum Stations
Extra-Wide Bays
Additional Land for Expansion
In-Bay Touchless Wash Systems
600 AMP Electrical Service
New Plumbing Infrastructure
Building Details
Building Size
3,570 SF
Year Built
1967
Year Renovated
2025
Listing Agency:
P.A. Commercial Corporate & Investment Real Estate
(248) 358-0100
Listed By:
Phil Myers
(248) 358-0100
Source:
Thebrokerlist
Added: Jun 28
Changed: Aug 30
Last Checked: Aug 30 at 12:51PM
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.
Located at 19595 15 Mile Rd in Clinton Township, MI, this self-service car wash includes eight washing bays, five vacuum stations, and extra-wide bays suited to larger vehicles. The property was built in 1967 and has received substantial improvements, including major renovations completed in 2025, new in-bay touchless wash systems installed in December 2021, and a new plumbing infrastructure supporting in-bay automatic washing. Electrical service has been upgraded to 600 AMP.
The site provides 160 feet of frontage on 15 Mile Rd, with reported traffic of 22,000 vehicles per day. Additional land is included for expansion or future development. The offering is reported at an 8.52% cap rate.
The site provides 160 feet of frontage on 15 Mile Rd, with reported traffic of 22,000 vehicles per day. Additional land is included for expansion or future development. The offering is reported at an 8.52% cap rate.
Key Highlights
- Eight self‑service washing bays and five vacuum stations
- 160' of frontage on 15 Mile Rd
- 22,000 vehicles passing per day
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
5.23%
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 5.23%
Second Best
Retail
$377.0K
$329.9K – $439.8K
NOI $26,389 @ 7.0% cap · market cap 2.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Yes
Utilities to site
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 - Renovated wash facility with touchless systems, upgraded electrical capacity, and additional land for future development.
Where is this self service car wash located?
The property is located at 19595 15 Mile Rd Clinton Clinton Township, MI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Eight self‑service washing bays and five vacuum stations; 160' of frontage on 15 Mile Rd; 22,000 vehicles passing per day
