Freestanding Car Wash
For Sale
$339,000
3511 Scheele Drive, Jackson, MI 49202
Commercial Sale, Jackson, MI
Property Size4,356 SF
Lot Size0.83 Acres
Price / SF$77.82
Days on Market52
Property Features for 3511 Scheele Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
20
Elementary school district
Northwest
Middle school district
Northwest
High school district
Northwest
Standard status
Active
APN
000-08-29-129-008-02
Size
4,356 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE W 208 FT OF THE E 378 FT OF LOT 23 SCHEELE INDUSTRIAL SUBDIVISION EXTENSION NUMBER ONE DDA
Tax Annual Amount
7755
Legal Description
THE W 208 FT OF THE E 378 FT OF LOT 23 SCHEELE INDUSTRIAL SUBDIVISION EXTENSION NUMBER ONE DDA
Utilities
Utilities
Cable Available
Heating system
Space Heater, Forced Air
Building Details
Year built
1985
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding, Brick, Stone
Roof type
Composition
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
Jill Baker · License #6501437282
(517) 745-3114
Added: Aug 12
Changed: Aug 25
Last Checked: Oct 2 at 2:06AM
MLS# 26042122
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,356-square-foot automotive wash property at 3511 Scheele Drive includes a bathroom and was constructed in 1985. The building features vinyl siding, brick, stone, and a composition roof, with forced-air heating and a space heater. The property historically operated as a car wash, supporting continued consideration of an automotive service use.
The site is positioned in Jackson near major thoroughfares and established commercial and industrial uses. Cable service is available. Additional permitted commercial uses are not specified.
The site is positioned in Jackson near major thoroughfares and established commercial and industrial uses. Cable service is available. Additional permitted commercial uses are not specified.
Key Highlights
- 4,356‑square‑foot car wash property at 3511 Scheele Drive, Jackson, MI 49202
- Historically operated as a car wash
- Constructed 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 - Former automotive wash facility with commercial access and a range of building systems and improvements.
Where is this car wash located?
The property is located at 3511 Scheele Drive 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: 4,356‑square‑foot car wash property at 3511 Scheele Drive, Jackson, MI 49202; Historically operated as a car wash; Constructed in 1985
