Multi-Service Car, Truck & RV
For Sale
Contact for pricing
28735 Joy Rd, Westland, MI 48185
High-potential commercial property with diverse income streams.
Property Size10,080 SF
Price / SF$178.57
Days on Market476
Property Features for 28735 Joy Rd
General Information
Standard status
Active
Size
10,080 SF
Property subtype
Mixed Use, Retail
Zoning
CB-3
Building Details
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
Sun Flower
Listed By:
Mariam Khalaf · License #313952
Source:
Crexi
Added: Apr 23, 2025
Changed: Aug 8
Last Checked: Aug 10 at 4:18AM
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 Sun Flower
Investment Insights
Based on property information with market context.
This commercial property presents an investment opportunity as a multi-service car, truck, and RV wash facility. The established facility offers diverse income streams, strategically combined in one location. Currently operating as a multi service operation, the property features dedicated car wash bays, an RV wash bay with a convenient dumping station, and an on-site propane filling station. Additional revenue potential comes from integrated Storage Solutions and a detailing service bay catering to all vehicle types. The property is ideal for investors or owner-operators seeking a business with multiple profit centers in high-demand sectors. The property is being sold AS IS, with inventory and equipment included. The sale includes two additional parcels, identified as Parcels 56-002-99-0009-000 and 56-002-99-0010-000. The property size is 10080 square feet. Land Contract is available with term, with minimum $600k down. Business and Real Estate for Sale together.
Key Highlights
- Multi‑service car, truck & RV wash facility with diverse income streams.
- Includes car wash bays, RV wash bay with dumping station, and propane filling station.
- Integrated storage solutions and detailing service bay for additional revenue.
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
$130,637
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
7.26%
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%
$2,612,740
$2.6M
Cap Rate 7%
$1,866,243
$1.9M
Cap Rate 9%
$1,451,522
$1.5M
Market Conditions
NOI Build-Up for 10,080 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
$181.4K $18.00/SF
− Vacancy
−$7.3K −$0.72/SF
EGI
$174.2K $17.28/SF
− OpEx
−$43.5K −$4.32/SF
NOI
$130.6K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
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%
$2,612,740
Cap Rate 7%
$1,866,243
Cap Rate 9%
$1,451,522
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,637 @ 7.0% cap · market cap 7.26%
Second Best
Retail
$1.36M
$1.19M – $1.59M
NOI $95,510 @ 7.0% cap · market cap 5.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
72k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 44%
Groceries 8%
McDonald's
Dining
29,148 visits/mo
0.2 miles
BP
Shops & Services
11,328 visits/mo
0.3 miles
7-Eleven
Shops & Services
9,999 visits/mo
0.2 miles
Dollar Tree
Shops & Services
9,289 visits/mo
0.4 miles
Little Caesars Pizza
Dining
5,544 visits/mo
0.4 miles
Demographics for 48185, MI
49,730
Population
23,554
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
4,076
Density / Sq Mi
$59,085
Median Household Income
$40,435
Median Earnings
$1,123
Median Rent
$183,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - High-potential commercial property with diverse income streams.
Where is this car wash located?
The property is located at 28735 Joy Rd Westland, MI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Multi‑service car, truck & RV wash facility with diverse income streams.; Includes car wash bays, RV wash bay with dumping station, and propane filling station.; Integrated storage solutions and detailing service bay for additional revenue.
