Car Wash on Contiguous Commercial
New
For Sale
$995,700
2528 Spring Avenue SW, Decatur, AL 35601
COMMERCIAL - Decatur, AL
Property Size8,515 SF
Lot Size1.55 Acres
Price / SF$116.93
Days on Market1
Property Features for 2528 Spring Avenue SW
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Metes And Bounds
Directions
Head West On The Beltline Merge Onto Spring Ave Sw Property Will Be On The Right
Standard status
Active
APN
03 09 31 3 001 064.004
Size
8,515 SF
Lot size
1.55 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Access Real Estate
(256) 822-2548
Listed By:
Sam Mozeb · License #90515
(256) 309-7556
Added: Aug 14
Last Checked: Aug 14 at 5:06PM
MLS# 21888502
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1.55-acre commercial property consists of two contiguous lots with an 8,515-square-foot improvement. The site includes a car wash, a Hispanic grocery store, and a restaurant, creating multiple existing commercial components within one property. Concrete flooring is present, with water supplied by the public system and public sewer serving the property.
Located at 2528 Spring Avenue SW in Decatur, the property sits along a busy road and is positioned near residential areas, major retailers, and main thoroughfares. The existing car wash has an established customer base, while the grocery store and restaurant serve a loyal following. The configuration also supports consideration of expansion or redevelopment, as stated in the property information.
Located at 2528 Spring Avenue SW in Decatur, the property sits along a busy road and is positioned near residential areas, major retailers, and main thoroughfares. The existing car wash has an established customer base, while the grocery store and restaurant serve a loyal following. The configuration also supports consideration of expansion or redevelopment, as stated in the property information.
Key Highlights
- Two contiguous commercial lots totaling 1.55 acres
- 8,515 square feet of property improvements
- Existing car wash with an established customer base
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
$70,417
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
7.07%
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%
$1,408,340
$1.4M
Cap Rate 7%
$1,005,957
$1.0M
Cap Rate 9%
$782,411
$782.4K
Market Conditions
NOI Build-Up for 8,515 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
$112.4K $13.20/SF
− Vacancy
−$11.8K −$1.39/SF
EGI
$100.6K $11.81/SF
− OpEx
−$30.2K −$3.54/SF
NOI
$70.4K $8.27/SF
Area
Morgan County, AL
Vacancy
10.50%
Lease Rate
$13.20 /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%
$1,408,340
Cap Rate 7%
$1,005,957
Cap Rate 9%
$782,411
Alternative Uses
Best Use
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $94,994 @ 7.0% cap · market cap 9.54%
Second Best
Retail
$1.01M
$880.2K – $1.17M
NOI $70,417 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,006 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
3,788 visits/mo
0.5 miles
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Includes an established car wash alongside a grocery store and restaurant with public utilities.
Where is this car wash located?
The property is located at 2528 Spring Avenue SW Decatur, AL.
What is the asking price?
The asking price for this property is $995,700.
What are key features of this property?
This property features: Two contiguous commercial lots totaling 1.55 acres; 8,515 square feet of property improvements; Existing car wash with an established customer base
