Car Wash
For Sale
$339,000
3511 Scheele Dr, Jackson, MI 49202
The parcel has a documented history of vehicle-washing operations.
Property Size4,356 SF
Lot Size0.82 Acres
Price / SF$77.82
Days on Market89
Property Features for 3511 Scheele Dr
General Information
Standard status
Active
Size
4,356 SF
Lot size
0.82 Acres
Property subtype
Commercial
Building Details
Year Built
1985
Listing Agency:
ERA Reardon Realty, L.L.C.
Listed By:
Jill Baker · License #6501437282
(517) 745-3114
Source:
Vmrealestatemichigan
Added: Jul 6
Changed: Oct 1
Last Checked: Oct 1 at 12:02PM
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 ERA Reardon Realty, L.L.C.
Investment Insights
Based on property information with market context.
This 0.82-acre property at 3511 Scheele Dr in Blackman Charter Township, Michigan, was built in 1985 and has a history of car wash use.
Major thoroughfares are nearby, and the surrounding area includes commercial and industrial properties.
Major thoroughfares are nearby, and the surrounding area includes commercial and industrial properties.
Key Highlights
- 0.82‑acre property
- Prior use included car wash operations
- Built in 1985
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
$30,263
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
8.93%
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%
$605,260
$605.3K
Cap Rate 7%
$432,329
$432.3K
Cap Rate 9%
$336,256
$336.3K
Market Conditions
NOI Build-Up for 4,356 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
$48.1K $11.04/SF
− Vacancy
−$4.9K −$1.12/SF
EGI
$43.2K $9.92/SF
− OpEx
−$13.0K −$2.98/SF
NOI
$30.3K $6.95/SF
Area
Jackson County, MI
Vacancy
10.10%
Lease Rate
$11.04 /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%
$605,260
Cap Rate 7%
$432,329
Cap Rate 9%
$336,256
Alternative Uses
Best Use
Specialty Retail
$591.3K
$517.4K – $689.8K
NOI $41,388 @ 7.0% cap · market cap 12.21%
Second Best
Industrial
$432.3K
$378.3K – $504.4K
NOI $30,263 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$695.4K
$608.5K – $811.3K
NOI $48,676 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
335k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 30%
Shops & Services 20%
Home Improvements & Furnishings 4%
Meijer
Groceries
99,896 visits/mo
0.3 miles
McDonald's
Dining
27,561 visits/mo
0.2 miles
Meijer Gas Station
Shops & Services
22,038 visits/mo
0.2 miles
Olive Garden
Dining
21,100 visits/mo
0.4 miles
Cracker Barrel Old Country Store
Dining
20,049 visits/mo
0.4 miles
Demographics for 49202, MI
19,359
Population
9,598
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
91%
High-School Grad
12.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$41,916
Median Household Income
$30,638
Median Earnings
$915
Median Rent
$104,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The parcel has a documented history of vehicle-washing operations.
Where is this car wash located?
The property is located at 3511 Scheele Dr Jackson, MI.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 0.82‑acre property; Prior use included car wash operations; Built in 1985
