Corner Lot Car Wash
For Sale
Contact for pricing
2912 E Thomas Rd, Phoenix, AZ 85016
C-2-zoned automotive property with multiple structures, wash facilities, monument signage, and exposure along Thomas Road.
Property Size18,836 SF
Lot Size1.48 Acres
Price / SF$167.23
Days on Market188
Property Features for 2912 E Thomas Rd
General Information
Standard status
Active
Size
18,836 SF
Lot size
1.48 Acres
Property subtype
RETAIL
Zoning
C-2
Site & Location
Corner Location
Yes
Traffic Count
38,000 vehicles/day
Road Access
Yes
Additional Details
Asking Price
$3,150,000
Amenities
Monument Signage
Building Details
Buildings
2
Listing Agency:
Lee & Associates | Phoenix
(602) 954-3755
Listed By:
Sean Bishop, CCIM
(602) 321-5307
Source:
Moodyscre
Added: Feb 25
Changed: Aug 31
Last Checked: Aug 31 at 2:21AM
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 Lee & Associates | Phoenix
Investment Insights
Based on property information with market context.
This car wash property includes two buildings measuring 8,916 SF and 5,220 SF, along with a 2,100 SF wash bay structure and a 2,600 SF canopy. The improvements total 18,836 SF, and the approximately 64,647-square-foot site is configured as a corner lot with monument signage.
Located on Thomas Road in Phoenix, the property has reported frontage along the roadway and exposure to approximately 38,000 vehicles per day. C-2 zoning supports its commercial automotive positioning.
Located on Thomas Road in Phoenix, the property has reported frontage along the roadway and exposure to approximately 38,000 vehicles per day. C-2 zoning supports its commercial automotive positioning.
Key Highlights
- Two buildings measuring 8,916 SF and 5,220 SF
- 2,100 SF wash bay structure plus 2,600 SF canopy
- Approximately 64,647 SF corner‑lot site
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
$280,732
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
8.91%
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%
$5,614,640
$5.6M
Cap Rate 7%
$4,010,457
$4.0M
Cap Rate 9%
$3,119,244
$3.1M
Market Conditions
NOI Build-Up for 18,836 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
$406.9K $21.60/SF
− Vacancy
−$32.5K −$1.73/SF
EGI
$374.3K $19.87/SF
− OpEx
−$93.6K −$4.97/SF
NOI
$280.7K $14.90/SF
Area
Phoenix, AZ
Vacancy
8.00%
Lease Rate
$21.60 /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%
$5,614,640
Cap Rate 7%
$4,010,457
Cap Rate 9%
$3,119,244
Alternative Uses
Best Use
Specialty Retail
$4.01M
$3.51M – $4.68M
NOI $280,732 @ 7.0% cap · market cap 8.91%
Second Best
Retail
$3.04M
$2.66M – $3.55M
NOI $212,888 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$5.71M
$4.99M – $6.66M
NOI $399,391 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
38,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
Explore this area
Business Placement
Demographics for 85016, AZ
37,326
Population
21,363
Households
1.7
Avg Household Size
38
Median Age
50%
College-Educated
94%
High-School Grad
8.2 sq mi
ZIP Area
4,552
Density / Sq Mi
$85,085
Median Household Income
$53,781
Median Earnings
$1,575
Median Rent
$508,400
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
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 - C-2-zoned automotive property with multiple structures, wash facilities, monument signage, and exposure along Thomas Road.
Where is this car wash located?
The property is located at 2912 E Thomas Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Two buildings measuring 8,916 SF and 5,220 SF; 2,100 SF wash bay structure plus 2,600 SF canopy; Approximately 64,647 SF corner‑lot site
