Car Wash Redevelopment
For Sale
Contact for pricing
3030 University Dr NW, Huntsville, AL 35816
Closed car wash facility suitable for redevelopment or commercial conversion.
Property Size10,783 SF
Price / SF$125.20
Days on Market1261
Property Features for 3030 University Dr NW
General Information
Standard status
Active
Size
10,783 SF
Property subtype
Retail
Zoning
Light Industry
Building Details
Year Built
1989
Buildings
1
Stories
1
Listing Agency:
Russ Russell Commercial Real Estate
Listed By:
Russ Russell · License #AL000025965-1
(256) 536-7777
Source:
Crexi
Added: Apr 3, 2023
Changed: Sep 4
Last Checked: Sep 13 at 7:27AM
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 Russ Russell Commercial Real Estate
Investment Insights
Based on property information with market context.
This property, currently a closed car wash facility, presents a redevelopment opportunity or the potential for conversion to alternate commercial uses. The property occupies a site of 10783 square feet.
Key Highlights
- Redevelopment Opportunity
- Potential for Alternate Commercial Uses
- Existing Car Wash Facility
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
$68,158
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
5.05%
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%
$1,363,160
$1.4M
Cap Rate 7%
$973,686
$973.7K
Cap Rate 9%
$757,311
$757.3K
Market Conditions
NOI Build-Up for 10,783 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
$103.5K $9.60/SF
− Vacancy
−$6.1K −$0.57/SF
EGI
$97.4K $9.03/SF
− OpEx
−$29.2K −$2.71/SF
NOI
$68.2K $6.32/SF
Area
Huntsville, AL
Vacancy
5.94%
Lease Rate
$9.60 /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%
$1,363,160
Cap Rate 7%
$973,686
Cap Rate 9%
$757,311
Alternative Uses
Best Use
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,617 @ 7.0% cap · market cap 11.16%
Second Best
Retail
$1.88M
$1.65M – $2.20M
NOI $131,790 @ 7.0% cap · market cap 9.76%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,553 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
99k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 81%
Shops & Services 15%
Hotels & Casinos 4%
Olive Garden
Dining
25,363 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
14,822 visits/mo
0.4 miles
Jack's Family Restaurants
Dining
14,246 visits/mo
0.5 miles
Checkers
Dining
7,672 visits/mo
0.5 miles
Shogun
Dining
6,016 visits/mo
0.3 miles
Demographics for 35816, AL
15,035
Population
7,972
Households
1.9
Avg Household Size
28
Median Age
27%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,948
Density / Sq Mi
$38,947
Median Household Income
$28,060
Median Earnings
$875
Median Rent
$114,100
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 - Closed car wash facility suitable for redevelopment or commercial conversion.
Where is this car wash located?
The property is located at 3030 University Dr NW Huntsville, AL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Redevelopment Opportunity; Potential for Alternate Commercial Uses; Existing Car Wash Facility
