Updated Self-Service Car
New
For Sale
$230,000
2505 East Kalamazoo Street, Lansing, MI 48912
Commercial-zoned car wash with refreshed exterior elements and modernized payment equipment.
Property Size1,440 SF
Days on Market4
Property Features for 2505 East Kalamazoo Street
General Information
Standard status
Active
Size
1,440 SF
Property subtype
BO-OTH, SCR-VEH
Zoning
Commercial
Additional Details
Road Access
Yes
Building Details
Building Size
1,440 SF
Year Built
1964
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty Lansing
Listed By:
Kenneth Burton · License #6501414220
(517) 242-2000
Source:
Realnex
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 24 at 6:32AM
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 Keller Williams Realty Lansing
Investment Insights
Based on property information with market context.
This self-service car wash at 2505 East Kalamazoo Street in Lansing, Michigan, dates to 1964 and is situated on a corner parcel. The property has received several updates, including a replacement roof, exterior repainting, and refreshed payment equipment supporting both credit card and coin transactions.
Access is provided by two curb cuts, creating separate entry and exit points for customer circulation. The site is identified as Commercial zoning and benefits from a location described as carrying strong vehicle traffic. The existing car wash infrastructure and recent physical improvements provide a defined operating platform for an automotive service user.
Access is provided by two curb cuts, creating separate entry and exit points for customer circulation. The site is identified as Commercial zoning and benefits from a location described as carrying strong vehicle traffic. The existing car wash infrastructure and recent physical improvements provide a defined operating platform for an automotive service user.
Key Highlights
- Self‑service car wash at 2505 East Kalamazoo Street, Lansing, MI 48912
- Built in 1964
- Commercial zoning
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
$15,396
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
6.69%
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%
$307,920
$307.9K
Cap Rate 7%
$219,943
$219.9K
Cap Rate 9%
$171,067
$171.1K
Market Conditions
NOI Build-Up for 1,440 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
$23.3K $16.20/SF
− Vacancy
−$2.8K −$1.94/SF
EGI
$20.5K $14.26/SF
− OpEx
−$5.1K −$3.56/SF
NOI
$15.4K $10.69/SF
Area
Lansing, MI
Vacancy
12.00%
Lease Rate
$16.20 /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%
$307,920
Cap Rate 7%
$219,943
Cap Rate 9%
$171,067
Alternative Uses
Best Use
Specialty Retail
$219.9K
$192.5K – $256.6K
NOI $15,396 @ 7.0% cap · market cap 6.69%
Second Best
Retail
$186.2K
$162.9K – $217.2K
NOI $13,033 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$296.4K
$259.4K – $345.8K
NOI $20,749 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 48912, MI
17,155
Population
9,064
Households
1.9
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
3,299
Density / Sq Mi
$53,072
Median Household Income
$34,598
Median Earnings
$1,037
Median Rent
$139,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Self service car wash - Commercial-zoned car wash with refreshed exterior elements and modernized payment equipment.
Where is this self service car wash located?
The property is located at 2505 East Kalamazoo Street Lansing, MI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Self‑service car wash at 2505 East Kalamazoo Street, Lansing, MI 48912; Built in 1964; Commercial zoning
