Car Wash
New
For Sale
$375,000
30544 Grand River Ave, Farmington Hills, MI 48336
Established automotive service property with documented walkability and bikeability scores.
Property Size5,667 SF
Days on Market2
Property Features for 30544 Grand River Ave
General Information
Standard status
Active
Size
5,667 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,350
Building Details
Building Size
5,667 SF
Year Built
1980
Listing Agency:
Real Estate One
(517) 404-8867
Listed By:
Richard D Clark · License #6501366392
(517) 404-8867
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 21 at 6:23AM
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 Real Estate One
Investment Insights
Based on property information with market context.
This car wash property was built in 1980 and is located at 30544 Grand River Ave in Farmington Hills, Michigan. The site carries a walk score of 59, classified as Somewhat Walkable, and a bike score of 44, classified as Somewhat Bikeable.
Key Highlights
- Car wash property at 30544 Grand River Ave, Farmington Hills, MI 48336
- Constructed in 1980
- Walk score of 59; Somewhat Walkable
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
$28,078
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
7.49%
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%
$561,560
$561.6K
Cap Rate 7%
$401,114
$401.1K
Cap Rate 9%
$311,978
$312.0K
Market Conditions
NOI Build-Up for 5,667 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
$41.7K $7.35/SF
− Vacancy
−$1.5K −$0.27/SF
EGI
$40.1K $7.08/SF
− OpEx
−$12.0K −$2.12/SF
NOI
$28.1K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$561,560
Cap Rate 7%
$401,114
Cap Rate 9%
$311,978
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,563 @ 7.0% cap · market cap 22.82%
Second Best
Retail
$871.1K
$762.2K – $1.02M
NOI $60,979 @ 7.0% cap · market cap 16.26%
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
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Established automotive service property with documented walkability and bikeability scores.
Where is this car wash located?
The property is located at 30544 Grand River Ave Farmington Hills, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Car wash property at 30544 Grand River Ave, Farmington Hills, MI 48336; Constructed in 1980; Walk score of 59; Somewhat Walkable
