Car Wash with Grocery and
For Sale
$995,700
2528 Spring Avenue SW, Decatur, AL 35601
Business Opportunity, Decatur, AL
Property Size8,515 SF
Lot Size1.55 Acres
Price / SF$116.93
Days on Market52
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
Changed: Sep 8
Last Checked: Oct 4 at 4:06PM
MLS# 21888502
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Investment Insights
Based on property information with market context.
This 1.55-acre offering consists of two contiguous lots totaling 8,515 square feet. The property includes a car wash, a Hispanic grocery store, and a restaurant, creating a mixed commercial configuration with automotive, food, and retail components. Concrete flooring is present, along with public water and public sewer service.
Located at 2528 Spring Avenue SW in Decatur, Alabama, the property is positioned within Morgan County and carries a 35601 postal code. The combination of established on-site uses across contiguous parcels provides a clearly defined commercial property profile for evaluation by operators or purchasers.
Located at 2528 Spring Avenue SW in Decatur, Alabama, the property is positioned within Morgan County and carries a 35601 postal code. The combination of established on-site uses across contiguous parcels provides a clearly defined commercial property profile for evaluation by operators or purchasers.
Key Highlights
- 1.55‑acre property totaling 8,515 square feet
- Two contiguous lots at 2528 Spring Avenue SW
- Existing car wash, Hispanic grocery store, and restaurant
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
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
449k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Superstores 21%
Apparel 14%
Shops & Services 11%
Walmart
Superstores
96,147 visits/mo
0.4 miles
Academy Sports + Outdoors
Apparel
52,512 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
31,936 visits/mo
0.5 miles
Cracker Barrel Old Country Store
Dining
20,096 visits/mo
0.5 miles
Starbucks
Dining
18,751 visits/mo
0.2 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two contiguous lots combine a car wash with Hispanic grocery and restaurant uses.
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: 1.55‑acre property totaling 8,515 square feet; Two contiguous lots at 2528 Spring Avenue SW; Existing car wash, Hispanic grocery store, and restaurant
