Leased Retail Car Wash
For Sale
Contact for pricing
220 South St, Front Royal, VA 22630
Retail building leased to Jiffy Lube with an on-site car wash, offering 3.5 years remaining on the current lease.
Property Size2,610 SF
Lot Size0.94 Acres
Price / SF$593.87
Days on Market164
Property Features for 220 South St
General Information
Standard status
Active
Size
2,610 SF
Lot size
0.94 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Mid Atlantic Commercial
Listed By:
Jonathan Guion · License #VA 0226007065
(757) 620-2932
Source:
Crexi
Added: Mar 26
Changed: Sep 2
Last Checked: Sep 1 at 10:57AM
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 Mid Atlantic Commercial
Investment Insights
Based on property information with market context.
The property consists of one retail building leased to Jiffy Lube, with an on-site car wash. The site is approximately 2,610 SF on 0.94 acres, providing a combined retail-and-wash setup intended to support ongoing vehicle services. The current lease has approximately 3.5 years remaining, and a new owner can operate the car wash.
Located along South Street in Front Royal, the property offers high visibility and convenient access to U.S. Route 340. The surrounding area includes national retailers, service businesses, and residential neighborhoods, supporting local demand for automotive-related services.
As presented, the asset is structured around a single leased retail use with the car wash component on site, creating a straightforward configuration for an owner looking to oversee the wash operation alongside the existing lease.
Located along South Street in Front Royal, the property offers high visibility and convenient access to U.S. Route 340. The surrounding area includes national retailers, service businesses, and residential neighborhoods, supporting local demand for automotive-related services.
As presented, the asset is structured around a single leased retail use with the car wash component on site, creating a straightforward configuration for an owner looking to oversee the wash operation alongside the existing lease.
Key Highlights
- Retail building leased to Jiffy Lube with an on‑site car wash
- Approximately 2,610 SF on 0.94 acres
- About 3.5 years remaining on the current lease
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
$101,477
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
6.55%
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%
$2,029,540
$2.0M
Cap Rate 7%
$1,449,671
$1.4M
Cap Rate 9%
$1,127,522
$1.1M
Market Conditions
NOI Build-Up for 2,610 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
$140.9K $54.00/SF
− Vacancy
−$5.6K −$2.16/SF
EGI
$135.3K $51.84/SF
− OpEx
−$33.8K −$12.96/SF
NOI
$101.5K $38.88/SF
Area
Warren County, VA
Vacancy
4.00%
Lease Rate
$54.00 /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%
$2,029,540
Cap Rate 7%
$1,449,671
Cap Rate 9%
$1,127,522
Alternative Uses
Best Use
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,477 @ 7.0% cap · market cap 6.55%
Second Best
Retail
$1.25M
$1.09M – $1.46M
NOI $87,309 @ 7.0% cap · market cap 5.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
285k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 26%
Home Improvements & Furnishings 17%
Groceries 15%
Rural King
Home Improvements & Furnishings
47,374 visits/mo
0.3 miles
Martin's Food Market
Groceries
39,443 visits/mo
0.2 miles
McDonald's
Dining
26,710 visits/mo
0.2 miles
7-Eleven
Shops & Services
19,575 visits/mo
0.4 miles
Starbucks
Dining
17,036 visits/mo
0.4 miles
Demographics for 22630, VA
33,829
Population
14,465
Households
2.3
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
121.9 sq mi
ZIP Area
278
Density / Sq Mi
$84,513
Median Household Income
$44,771
Median Earnings
$1,183
Median Rent
$329,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Truckworx Diesel Performance & Repair — 430 Remount Rd #2179, Front Royal, VA 22630
- Rural King Tractors — 465 South St, Front Royal, VA 22630
- Jiffy Lube Multicare — 220 South St, Front Royal, VA 22630
- Dillbuilt Automotive — 521 Short St, Front Royal, VA 22630
- Hijacked Off-Road & Repair — 350B S Commerce Ave, Front Royal, VA 22630
Frequently Asked Questions
What type of property is this?
Auto shop - Retail building leased to Jiffy Lube with an on-site car wash, offering 3.5 years remaining on the current lease.
Where is this auto shop located?
The property is located at 220 South St Front Royal, VA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Retail building leased to Jiffy Lube with an on‑site car wash; Approximately 2,610 SF on 0.94 acres; About 3.5 years remaining on the current lease
