Four-Bay Self-Serve Car
For Sale
$350,000
247 W Aurora Road Northfield, Northfield, OH 44067
Four-bay self-serve car wash with multiple vacuum stations and ample on-site parking on a busy commercial corridor.
Property Size1,680 SF
Days on Market66
Property Features for 247 W Aurora Road Northfield
General Information
Standard status
Active
Size
1,680 SF
Taxes and HOA fees
Annual Taxes
$3,188
Amenities
false
0.4821
Public Records
1680
Building Details
Building Size
1,680 SF
Year Built
1984
Listed By:
Christy Clayton
(330) 590-5379
Source:
Akroncantonhomesonline
Added: Jul 9
Changed: Sep 11
Last Checked: Sep 11 at 4:58AM
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 Christy Clayton
Investment Insights
Based on property information with market context.
This for-sale four-bay self-serve car wash includes multiple vacuum stations designed to support customer wash and cleanup needs. The property is described as having strong visibility and convenient customer access.
Located on Aurora Road in Northfield, the site benefits from easy access and is positioned on a well-traveled corridor with high daily traffic counts, according to the seller’s remarks. Ample on-site parking is also identified as a feature for customer convenience.
Offered as an investment opportunity, the car wash is positioned to serve ongoing demand in a proven location, with the property presented as suitable for an owner-operator or investor.
Located on Aurora Road in Northfield, the site benefits from easy access and is positioned on a well-traveled corridor with high daily traffic counts, according to the seller’s remarks. Ample on-site parking is also identified as a feature for customer convenience.
Offered as an investment opportunity, the car wash is positioned to serve ongoing demand in a proven location, with the property presented as suitable for an owner-operator or investor.
Key Highlights
- Four‑bay self‑serve car wash on a nearly half‑acre lot (0.4821 acres, per public records)
- Multiple vacuum stations included
- Building area totals 1,680
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
$20,323
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
5.81%
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%
$406,460
$406.5K
Cap Rate 7%
$290,329
$290.3K
Cap Rate 9%
$225,811
$225.8K
Market Conditions
NOI Build-Up for 1,680 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
$28.0K $16.68/SF
− Vacancy
−$925 −$0.55/SF
EGI
$27.1K $16.13/SF
− OpEx
−$6.8K −$4.03/SF
NOI
$20.3K $12.10/SF
Area
Summit County, OH
Vacancy
3.30%
Lease Rate
$16.68 /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%
$406,460
Cap Rate 7%
$290,329
Cap Rate 9%
$225,811
Alternative Uses
Best Use
Specialty Retail
$290.3K
$254.0K – $338.7K
NOI $20,323 @ 7.0% cap · market cap 5.81%
Second Best
Retail
$152.1K
$133.1K – $177.4K
NOI $10,644 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$412.3K
$360.8K – $481.0K
NOI $28,860 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 83%
Dining 9%
Shops & Services 9%
Marc's
Groceries
20,732 visits/mo
0.5 miles
Exxon
Shops & Services
2,129 visits/mo
0.4 miles
Domino's Pizza
Dining
1,508 visits/mo
0.3 miles
Teresa's Pizza
Dining
666 visits/mo
0.4 miles
Demographics for 44067, OH
19,995
Population
9,201
Households
2.2
Avg Household Size
49
Median Age
40%
College-Educated
94%
High-School Grad
17.2 sq mi
ZIP Area
1,163
Density / Sq Mi
$89,082
Median Household Income
$51,312
Median Earnings
$1,242
Median Rent
$234,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Self service car wash - Four-bay self-serve car wash with multiple vacuum stations and ample on-site parking on a busy commercial corridor.
Where is this self service car wash located?
The property is located at 247 W Aurora Road Northfield Northfield, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four‑bay self‑serve car wash on a nearly half‑acre lot (0.4821 acres, per public records); Multiple vacuum stations included; Building area totals 1,680
