Established Car Wash on
For Sale
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25056 Lorain Rd, North Olmsted, OH 44070
Operating car wash on 0.44 acres near Great Northern.
Property Size2,307 SF
Lot Size0.44 Acres
Price / SF$693.54
Days on Market1243
Property Features for 25056 Lorain Rd
General Information
Standard status
Active
Size
2,307 SF
Lot size
0.44 Acres
Property subtype
Land
Listing Agency:
Goodman Real Estate Services Group LLC
(216) 381-8200
Listed By:
Jim Becker · License #OH SAL.2006002500
Source:
Crexi
Added: Apr 6, 2023
Changed: Aug 23
Last Checked: Aug 28 at 11:42AM
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 Goodman Real Estate Services Group LLC
Investment Insights
Based on property information with market context.
The property features a 2,307-square-foot laser wash facility situated on 0.44 acres. Established in 2006, the car wash includes an M5 touchless system and two automatic bays. The equipment has been solidly maintained. Located on Lorain Road, the property is in the vicinity of Great Northern Mall and Plazas. The business has demonstrated steady and increasing annual revenue.
Key Highlights
- Established touchless car wash business (since 2006) with steady, increasing annual revenue.
- Prime location on Lorain Road near Great Northern Mall and Plazas.
- Two automatic bays with M5 touchless car wash system.
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
$106,559
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
6.66%
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%
$2,131,180
$2.1M
Cap Rate 7%
$1,522,271
$1.5M
Cap Rate 9%
$1,183,989
$1.2M
Market Conditions
NOI Build-Up for 2,307 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
$158.1K $68.52/SF
− Vacancy
−$5.8K −$2.54/SF
EGI
$152.2K $65.98/SF
− OpEx
−$45.7K −$19.80/SF
NOI
$106.6K $46.19/SF
Area
Cuyahoga County, OH
Vacancy
3.70%
Lease Rate
$68.52 /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%
$2,131,180
Cap Rate 7%
$1,522,271
Cap Rate 9%
$1,183,989
Alternative Uses
Best Use
Industrial
$1.52M
$1.33M – $1.78M
NOI $106,559 @ 7.0% cap · market cap 6.66%
Second Best
Specialty Retail
$360.5K
$315.5K – $420.6K
NOI $25,237 @ 7.0% cap · market cap 1.58%
Theoretical Best
Warehouse
$1.85M
$1.62M – $2.16M
NOI $129,393 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 44070, OH
32,442
Population
13,953
Households
2.3
Avg Household Size
44
Median Age
33%
College-Educated
95%
High-School Grad
11.7 sq mi
ZIP Area
2,773
Density / Sq Mi
$85,435
Median Household Income
$49,900
Median Earnings
$1,092
Median Rent
$202,400
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 - Operating car wash on 0.44 acres near Great Northern.
Where is this car wash located?
The property is located at 25056 Lorain Rd North Olmsted, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Established touchless car wash business (since 2006) with steady, increasing annual revenue.; Prime location on Lorain Road near Great Northern Mall and Plazas.; Two automatic bays with M5 touchless car wash system.
