Established Hand Car
For Sale
$1,475,000
320 Lake St, Maywood, IL 60153
Automotive facility combines customer showroom space with service areas and detailing infrastructure.
Property Size3,706 SF
Price / SF$398
Days on Market52
Property Features for 320 Lake St
General Information
Standard status
Active
Size
3,706 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Amenities
open service areas
high ceilings
multiple overhead garage doors
floor drains
work stations
compressed-air infrastructure
vacuum equipment
storage areas
finished customer showroom
retail area
updated lighting
signage
canopies
Listing Agency:
Alexander Realty LLC
Listed By:
Tony Tinoco · License #475206330
(708) 878-7213
Source:
Searchillinoishomesforsale
Added: Aug 26
Changed: Oct 1
Last Checked: Oct 14 at 11:34PM
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 Alexander Realty LLC
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Investment Insights
Based on property information with market context.
Located at 320 Lake St in Maywood, Illinois, this 3,706 SF automotive property is offered with an operating hand car wash and auto appearance business. The facility includes open service areas, high ceilings, multiple overhead garage doors, floor drains, workstations, storage, compressed-air equipment, vacuum equipment, and a finished showroom with retail space.
The operation has been established at the site for more than 25 years and services approximately 14,000-15,000 vehicles annually. Improvements include a newer roof, upgraded garage doors, updated lighting, signage, canopies, showroom work, compressor equipment, vacuum equipment, and related operating infrastructure. The business and real estate are offered together, along with existing equipment, customer relationships, goodwill, and an experienced staff of approximately six full-time and two part-time employees. Services and capabilities include hand washing, detailing, window tinting, automotive accessories, remote starters, and car audio and sound systems.
The operation has been established at the site for more than 25 years and services approximately 14,000-15,000 vehicles annually. Improvements include a newer roof, upgraded garage doors, updated lighting, signage, canopies, showroom work, compressor equipment, vacuum equipment, and related operating infrastructure. The business and real estate are offered together, along with existing equipment, customer relationships, goodwill, and an experienced staff of approximately six full-time and two part-time employees. Services and capabilities include hand washing, detailing, window tinting, automotive accessories, remote starters, and car audio and sound systems.
Key Highlights
- Real estate and operating hand car wash business offered together
- Business has operated at the location for more than 25 years
- Services approximately 14,000‑15,000 vehicles annually
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,038
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,240,760
$1.2M
Cap Rate 7%
$886,257
$886.3K
Cap Rate 9%
$689,311
$689.3K
Market Conditions
NOI Build-Up for 3,706 SF
Gross rent
$88.9K $24.00/SF
− Vacancy
−$6.2K −$1.68/SF
EGI
$82.7K $22.32/SF
− OpEx
−$20.7K −$5.58/SF
NOI
$62.0K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,240,760
Cap Rate 7%
$886,257
Cap Rate 9%
$689,311
Alternative Uses
Best Use
Specialty Retail
$886.3K
$775.5K – $1.03M
NOI $62,038 @ 7.0% cap · market cap 4.21%
Second Best
Retail
$734.9K
$643.0K – $857.3K
NOI $51,440 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,566 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 25%
Apparel 1%
McDonald's
Dining
29,111 visits/mo
0.2 miles
Church's Chicken
Dining
8,428 visits/mo
0.4 miles
Exxon
Shops & Services
5,851 visits/mo
0.4 miles
AutoZone
Shops & Services
3,606 visits/mo
0.5 miles
CubeSmart Self Storage
Shops & Services
3,302 visits/mo
0.2 miles
Demographics for 60153, IL
23,512
Population
8,385
Households
2.8
Avg Household Size
36
Median Age
17%
College-Educated
79%
High-School Grad
2.8 sq mi
ZIP Area
8,397
Density / Sq Mi
$66,498
Median Household Income
$40,734
Median Earnings
$1,203
Median Rent
$212,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Car wash - Automotive facility combines customer showroom space with service areas and detailing infrastructure.
Where is this car wash located?
The property is located at 320 Lake St Maywood, IL.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Real estate and operating hand car wash business offered together; Business has operated at the location for more than 25 years; Services approximately 14,000‑15,000 vehicles annually
