Self-Service Car Wash with Automatic
For Sale
Contact for pricing
311 VAN GIESEN ST, Richland, WA 99354
C-2 commercial car wash with concrete block construction and remote security monitoring in a downtown setting.
Property Size3,390 SF
Price / SF$412.98
Days on Market102
Property Features for 311 VAN GIESEN ST
General Information
Standard status
Active
Size
3,390 SF
Class
B
Property subtype
Special Purpose
Zoning
C-2 Commercial
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$95,000
Additional Details
Car Wash Bays
6
Amenities
remote security and monitoring systems
Building Details
Year Built
1992
Buildings
1
Stories
1
Units
12
Construction
concrete block
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Chris Schreiber · License #ID AB33610
Source:
Crexi
Added: May 22
Changed: Aug 30
Last Checked: Aug 30 at 7:13AM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This 3,390-square-foot self-service car wash was built in 1992 and includes five self-service bays plus a drive-through automatic bay. Concrete block construction, limited landscaping, and remote security and monitoring systems support a straightforward operating setup. The property is identified as income-producing and has an established operating history.
Located at 311 Van Giesen St in Richland, the car wash sits in a downtown infill setting surrounded by multifamily and apartment properties. The site serves both residential and commercial customers and is zoned C-2 Commercial.
Located at 311 Van Giesen St in Richland, the car wash sits in a downtown infill setting surrounded by multifamily and apartment properties. The site serves both residential and commercial customers and is zoned C-2 Commercial.
Key Highlights
- Five self‑service bays and one drive‑through automatic bay
- 3,390 SF car wash building constructed in 1992
- C‑2 Commercial zoning
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
$52,227
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
3.73%
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%
$1,044,540
$1.0M
Cap Rate 7%
$746,100
$746.1K
Cap Rate 9%
$580,300
$580.3K
Market Conditions
NOI Build-Up for 3,390 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
$73.2K $21.60/SF
− Vacancy
−$3.6K −$1.06/SF
EGI
$69.6K $20.54/SF
− OpEx
−$17.4K −$5.14/SF
NOI
$52.2K $15.41/SF
Area
Benton County, WA
Vacancy
4.90%
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%
$1,044,540
Cap Rate 7%
$746,100
Cap Rate 9%
$580,300
Alternative Uses
Best Use
Specialty Retail
$746.1K
$652.8K – $870.5K
NOI $52,227 @ 7.0% cap · market cap 3.73%
Second Best
Retail
$569.9K
$498.7K – $664.9K
NOI $39,895 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$940.3K
$822.7K – $1.10M
NOI $65,818 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
157k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Shops & Services 30%
Groceries 25%
Home Improvements & Furnishings 11%
Safeway
Groceries
38,568 visits/mo
0.4 miles
Circle K
Shops & Services
19,214 visits/mo
0.3 miles
Taco Bell
Dining
18,040 visits/mo
0.5 miles
Griggs Ace Hardware & Sporting Goods - Richland
Home Improvements & Furnishings
16,755 visits/mo
0.2 miles
Bruchi's CheeseSteaks & Subs
Dining
7,877 visits/mo
0.3 miles
Demographics for 99354, WA
24,839
Population
10,807
Households
2.3
Avg Household Size
37
Median Age
42%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,039
Density / Sq Mi
$88,601
Median Household Income
$50,192
Median Earnings
$1,299
Median Rent
$355,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - C-2 commercial car wash with concrete block construction and remote security monitoring in a downtown setting.
Where is this self service car wash located?
The property is located at 311 VAN GIESEN ST Richland, WA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Five self‑service bays and one drive‑through automatic bay; 3,390 SF car wash building constructed in 1992; C‑2 Commercial zoning
