Listing Agency: NAI Farbman - Corporate

Listed By: Harrison Yaldoo · License #6501433927 Show Phone

Source: Moodyscre

Added: Jan 22 Changed: Oct 17 Last Checked: Oct 19 at 9:19AM

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Investment Insights

Based on property information with market context.

This five-bay coin-operated car wash is currently operating and set on a 0.80-acre site. The property is a 2,980 SF facility and includes a large pylon sign for visibility.

The site has two curb cuts on Utica Road, providing access to Groesbeck and 13 Mile. The property is positioned on 13 Mile Rd and Groesbeck, with reported traffic of 38,000 VPD on Groesbeck. General commercial zoning supports car wash use.

For a user seeking a working car wash with strong roadside exposure and direct access points, the existing configuration and operating status provide a straightforward platform to consider.

Key Highlights

• Currently operating five‑bay coin‑operated car wash
• Large pylon sign on the site
• 0.80‑acre site

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,053

Cap Rate

5.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$781,060 $781.1K

Cap Rate 7%

$557,900 $557.9K

Cap Rate 9%

$433,922 $433.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,980 SF

Gross rent

$59.0K $19.80/SF

− Vacancy

−$6.9K −$2.33/SF

EGI

$52.1K $17.47/SF

− OpEx

−$13.0K −$4.37/SF

NOI

$39.1K $13.11/SF

Area

Macomb County, MI

Vacancy

11.75%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$781,060

Cap Rate 7%

$557,900

Cap Rate 9%

$433,922

Alternative Uses

Best Use

Specialty Retail

$557.9K

$488.2K – $650.9K (±1% cap)

NOI $39,053 @ 7.0% cap · market cap 5.79%

Second Best

Retail

$314.7K

$275.4K – $367.1K (±1% cap)

NOI $22,028 @ 7.0% cap · market cap 3.26%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Utica Car Wash Car Wash

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Parking Lot & Garage (Bike/Boat/Book/etc) Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

689

Businesses Nearby

68k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 59% Dining 41%

Dollar Tree Shops & Services

18,390 visits/mo 0.5 miles

Valero Energy Shops & Services

9,706 visits/mo 0.1 miles

Jimmy John's Dining

9,535 visits/mo 0.2 miles

Family Dollar Shops & Services

7,638 visits/mo 0.2 miles

Popeyes Louisiana Kitchen Dining

6,919 visits/mo 0.2 miles

Demographics for 48026, MI

14,726

Population

6,778

Households

2.2

Avg Household Size

44

Median Age

21%

College-Educated

91%

High-School Grad

4.1 sq mi

ZIP Area

3,592

Density / Sq Mi

$61,118

Median Household Income

$40,198

Median Earnings

$827

Median Rent

$193,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Car wash - Currently operating five-bay coin-operated car wash with general commercial zoning and pylon signage.

Where is this car wash located?

The property is located at 31062 Utica Road Fraser, MI.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Currently operating five‑bay coin‑operated car wash; Large pylon sign on the site; 0.80‑acre site