Freestanding Full-Service Car
For Sale
Contact for pricing
2404 West Washington Street, West Bend, WI 53090
Freestanding full-service/flex car wash on a high-traffic I-43 corridor, positioned for convenient customer access.
Property Size9,248 SF
Price / SF$161.66
Days on Market96
Property Features for 2404 West Washington Street
General Information
Standard status
Active
Size
9,248 SF
Class
A
Property subtype
Retail, Special Purpose, Business for Sale
Zoning
B-1 Community Business District, (https://www.ci.west-bend.wi.us)
Investment Type
Owner/User
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Year Built
1996
Buildings
1
Tenancy
Single
Listing Agency:
Realty Executives Integrity Brookfield
Listed By:
Larry Giorgi · License #WI
Source:
Crexi
Added: Jun 2
Changed: Sep 4
Last Checked: Sep 3 at 6:52AM
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 Realty Executives Integrity Brookfield
Investment Insights
Based on property information with market context.
This sale opportunity features a well established full service/flex car wash operated from a freestanding building. The property is configured for ongoing car wash operations and is offered as a single-purpose automotive facility through exclusive listing arrangements.
The site is positioned on a high traffic retail corridor along the I-43 and Hwy 33 corridor in the Northwest Metropolitan Milwaukee area. This location is intended to support customer visibility and drive-by access for daily operations.
For buyers seeking an operating automotive wash facility, this property provides a dedicated site for full service and flex use within the existing car wash building. The combination of a freestanding structure and a corridor-based placement can support an efficient customer flow and straightforward use for an experienced operator or an owner-operator looking to acquire an established car wash business.
The site is positioned on a high traffic retail corridor along the I-43 and Hwy 33 corridor in the Northwest Metropolitan Milwaukee area. This location is intended to support customer visibility and drive-by access for daily operations.
For buyers seeking an operating automotive wash facility, this property provides a dedicated site for full service and flex use within the existing car wash building. The combination of a freestanding structure and a corridor-based placement can support an efficient customer flow and straightforward use for an experienced operator or an owner-operator looking to acquire an established car wash business.
Key Highlights
- Freestanding full‑service/flex car wash building
- Built in 1996
- Located on a high‑traffic retail corridor along the I‑43/Hwy 33 corridor
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
$112,330
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
7.51%
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%
$2,246,600
$2.2M
Cap Rate 7%
$1,604,714
$1.6M
Cap Rate 9%
$1,248,111
$1.2M
Market Conditions
NOI Build-Up for 9,248 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
$166.5K $18.00/SF
− Vacancy
−$6.0K −$0.65/SF
EGI
$160.5K $17.35/SF
− OpEx
−$48.1K −$5.21/SF
NOI
$112.3K $12.15/SF
Area
Washington County, WI
Vacancy
3.60%
Lease Rate
$18.00 /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%
$2,246,600
Cap Rate 7%
$1,604,714
Cap Rate 9%
$1,248,111
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.87M
NOI $112,330 @ 7.0% cap · market cap 7.51%
Second Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,295 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,969 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
Demographics for 53090, WI
21,478
Population
9,247
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
57.9 sq mi
ZIP Area
371
Density / Sq Mi
$87,786
Median Household Income
$49,156
Median Earnings
$1,132
Median Rent
$267,500
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?
Car wash - Freestanding full-service/flex car wash on a high-traffic I-43 corridor, positioned for convenient customer access.
Where is this car wash located?
The property is located at 2404 West Washington Street West Bend, WI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Freestanding full‑service/flex car wash building; Built in 1996; Located on a high‑traffic retail corridor along the I‑43/Hwy 33 corridor
