Self-Service Car Wash with Coffee
For Sale
$385,000
2430 E Pikes Peak Avenue, Colorado Springs, CO 80909
Corner-lot car wash with an on-site drive-through coffee kiosk.
Property Size3,042 SF
Lot Size0.52 Acres
Days on Market36
Property Features for 2430 E Pikes Peak Avenue
General Information
Standard status
Active
Size
3,042 SF
Lot size
0.52 Acres
Property subtype
Commercial
Zoning
C6
Property Condition
Severity
Repairs Needed
Evidence
NEEDS SOME LOVE
Site & Location
Drive-Thru
Yes
Traffic Count
12,000 vehicles/day
Additional Details
Asking Price
$990,000
Car Wash Bays
7
Taxes and HOA fees
Annual Taxes
$3,732
Amenities
Drive-Thru Coffee Kiosk
Billboards
Vacuum Stations
Building Details
Building Size
3,042 SF
Year Built
1986
Units
3
Listing Agency:
Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
(303) 328-2075
Listed By:
Clayton Primm · License #FA100024161
(303) 328-2075
Source:
Coloradopartners
Added: Jul 28
Changed: Aug 31
Last Checked: Aug 31 at 5:12PM
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 Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Investment Insights
Based on property information with market context.
This self-service car wash occupies a 0.52-acre corner parcel and includes six self-serve bays, six vacuum stations, and a former automatic bay currently used for storage. The property was built in 1986 and is zoned C6. An on-site drive-through coffee kiosk adds a second commercial component to the site, while a double billboard provides an additional income stream.
The property fronts E Pikes Peak Avenue in Colorado Springs and is positioned along a corridor reporting 12,000 vehicles per day. Its corner configuration, established car wash improvements, and combination of automotive service, coffee kiosk, and billboard components create a mixed-use operating profile.
The property fronts E Pikes Peak Avenue in Colorado Springs and is positioned along a corridor reporting 12,000 vehicles per day. Its corner configuration, established car wash improvements, and combination of automotive service, coffee kiosk, and billboard components create a mixed-use operating profile.
Key Highlights
- Six self‑serve car wash bays
- Six vacuum stations
- 0.52‑acre corner lot
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
$27,604
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
7.17%
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%
$552,080
$552.1K
Cap Rate 7%
$394,343
$394.3K
Cap Rate 9%
$306,711
$306.7K
Market Conditions
NOI Build-Up for 3,042 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
$41.2K $13.56/SF
− Vacancy
−$1.8K −$0.60/SF
EGI
$39.4K $12.96/SF
− OpEx
−$11.8K −$3.89/SF
NOI
$27.6K $9.07/SF
Area
Colorado Springs, CO
Vacancy
4.40%
Lease Rate
$13.56 /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%
$552,080
Cap Rate 7%
$394,343
Cap Rate 9%
$306,711
Alternative Uses
Best Use
Specialty Retail
$600.8K
$525.7K – $700.9K
NOI $42,053 @ 7.0% cap · market cap 10.92%
Second Best
Retail
$522.9K
$457.6K – $610.1K
NOI $36,604 @ 7.0% cap · market cap 9.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 25%
Apparel 21%
Hotels & Casinos 1%
Rocky Mountain Chocolate Factory
Dining
6,520 visits/mo
0.1 miles
Goodwill
Apparel
5,564 visits/mo
0.1 miles
Circle K
Shops & Services
4,671 visits/mo
0.3 miles
Conoco
Shops & Services
4,563 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
3,161 visits/mo
0.3 miles
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Retail in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Corner-lot car wash with an on-site drive-through coffee kiosk.
Where is this self service car wash located?
The property is located at 2430 E Pikes Peak Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Six self‑serve car wash bays; Six vacuum stations; 0.52‑acre corner lot
