Car Wash Redevelopment
New
For Sale
$1,000,000
3206 East Washington Avenue, Madison, WI 53704
Future use is restricted to car washes, with equipment removed from the existing building.
Property Size2,500 SF
Lot Size0.61 Acres
Price / SF$400
Days on Market5
Property Features for 3206 East Washington Avenue
General Information
Standard status
Active
Size
2,500 SF
Lot size
0.61 Acres
Property subtype
Retail
Zoning
CC-T
Site & Location
Traffic Count
30,800 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$1,000,000
Building Details
Year Built
2025
Buildings
1
Listing Agency:
CBRE, Inc.
Listed By:
Nathan Powers
(414) 274-1690
Source:
Cbre
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 5 at 4:00PM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
The 2,500-square-foot building sits on a 0.61-acre parcel and was built in 2025. It previously operated as a car wash, but the equipment has been removed. A deed restriction limits future car wash use. The property is zoned CC-T.
At a signalized corner along Hwy 151 and E Washington Avenue, the site records 30,800 vehicles per day.
At a signalized corner along Hwy 151 and E Washington Avenue, the site records 30,800 vehicles per day.
Key Highlights
- Future car wash use required by deed restriction
- 2,500‑square‑foot building on 0.61 acre
- Signalized corner along Hwy 151 and E Washington Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,613
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,260
$812.3K
Cap Rate 7%
$580,186
$580.2K
Cap Rate 9%
$451,256
$451.3K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$57.0K $22.80/SF
− Vacancy
−$2.9K −$1.14/SF
EGI
$54.2K $21.66/SF
− OpEx
−$13.5K −$5.42/SF
NOI
$40.6K $16.25/SF
Area
Madison, WI
Vacancy
5.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,260
Cap Rate 7%
$580,186
Cap Rate 9%
$451,256
Alternative Uses
Best Use
Specialty Retail
$580.2K
$507.7K – $676.9K
NOI $40,613 @ 7.0% cap · market cap 4.06%
Second Best
Retail
$510.8K
$447.0K – $596.0K
NOI $35,759 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$730.3K
$639.0K – $852.0K
NOI $51,120 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
30,800 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 53704, WI
47,066
Population
22,740
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
21.9 sq mi
ZIP Area
2,149
Density / Sq Mi
$75,007
Median Household Income
$47,665
Median Earnings
$1,231
Median Rent
$289,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Future use is restricted to car washes, with equipment removed from the existing building.
Where is this car wash located?
The property is located at 3206 East Washington Avenue Madison, WI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Future car wash use required by deed restriction; 2,500‑square‑foot building on 0.61 acre; Signalized corner along Hwy 151 and E Washington Avenue
