Self-Service Car Wash with Vacant
For Sale
$449,000
2534 Hwy 25 S, Greenwood, SC 29646
Commercial Sale, Greenwood, SC
Property Size2,683 SF
Lot Size1.34 Acres
Price / SF$167.35
Days on Market381
Property Features for 2534 Hwy 25 S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
2,683 SF
Lot size
1.34 Acres
Amenities
High-Performance Pumps - 2,000 PSI, 4 gallons per minute
Two 50-Gallon Air Compressors & Heater
Six Vacuums
Building Details
Year built
2005
Listing Agency:
Greenwood Realty Inc.
(864) 388-0202
Listed By:
Renee Simchon
(864) 388-0202
Added: Aug 13, 2025
Changed: Aug 19
Last Checked: Aug 28 at 11:06AM
MLS# 134265
Copyright © 2026 Greenwood Association of REALTORS. 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 2683-square-foot car wash, built in 2005, combines four self-service bays with one automatic touchless bay. Equipment includes Gin San systems in the self-service bays, Vector equipment in the automatic bay, pumps operating at 2,000 PSI and 4 gallons per minute, two 50-gallon air compressors, a heater, and six vacuums. The property also includes an adjoining vacant lot totaling 1.342 acres, creating additional site area alongside the operating facility.
Located at 2534 Hwy 25 S in Greenwood, the property sits directly in front of Food Lion and beside Dollar General. The Dollar General property borders the adjoining lot on Hwy 25. C-2 zoning supports the property's commercial setting, while the existing operation and sign lease provide established income-producing components.
Located at 2534 Hwy 25 S in Greenwood, the property sits directly in front of Food Lion and beside Dollar General. The Dollar General property borders the adjoining lot on Hwy 25. C-2 zoning supports the property's commercial setting, while the existing operation and sign lease provide established income-producing components.
Key Highlights
- Four self‑service bays equipped with Gin San systems
- One automatic touchless bay with Vector equipment
- Pumps rated at 2,000 PSI and 4 gallons per minute
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
$34,917
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
7.78%
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%
$698,340
$698.3K
Cap Rate 7%
$498,814
$498.8K
Cap Rate 9%
$387,967
$388.0K
Market Conditions
NOI Build-Up for 2,683 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
$48.3K $18.00/SF
− Vacancy
−$1.7K −$0.65/SF
EGI
$46.6K $17.35/SF
− OpEx
−$11.6K −$4.34/SF
NOI
$34.9K $13.01/SF
Area
Greenwood County, SC
Vacancy
3.60%
Lease Rate
$18.00 /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%
$698,340
Cap Rate 7%
$498,814
Cap Rate 9%
$387,967
Alternative Uses
Best Use
Specialty Retail
$498.8K
$436.5K – $582.0K
NOI $34,917 @ 7.0% cap · market cap 7.78%
Second Best
Industrial
$225.8K
$197.6K – $263.4K
NOI $15,804 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$842.8K
$737.5K – $983.3K
NOI $58,998 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
64k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 36%
Dining 18%
Food Lion Grocery Store
Groceries
23,216 visits/mo
0.2 miles
Dollar Tree
Shops & Services
11,988 visits/mo
0.1 miles
7-Eleven
Shops & Services
10,638 visits/mo
0.1 miles
Dollar General
Shops & Services
7,012 visits/mo
0.2 miles
Little Caesars Pizza
Dining
6,360 visits/mo
0.1 miles
Demographics for 29646, SC
26,783
Population
12,316
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
84%
High-School Grad
101.4 sq mi
ZIP Area
264
Density / Sq Mi
$41,669
Median Household Income
$37,556
Median Earnings
$818
Median Rent
$130,900
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 - Established automotive service property with self-service and touchless washing, adjoining land, and C-2 zoning.
Where is this car wash located?
The property is located at 2534 Hwy 25 S Greenwood, SC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Four self‑service bays equipped with Gin San systems; One automatic touchless bay with Vector equipment; Pumps rated at 2,000 PSI and 4 gallons per minute
