Self-Service Car Wash
For Sale
$275,000
3562 Lagrange St, Toledo, OH 43608
2,970 SF car wash built in 1971 with self-service bays, coin-paid vacuums, and four vending towers on 0.1837 acres.
Property Size2,970 SF
Lot Size0.18 Acres
Price / SF$92.59
Days on Market64
Property Features for 3562 Lagrange St
General Information
Standard status
Active
Size
2,970 SF
Lot size
0.18 Acres
Property subtype
Retail
Site & Location
Traffic Count
83,849 vehicles/day
Highway Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1971
Listing Agency:
SVN | Ascension Commercial Realty
Listed By:
Ali Sayed · License #OH #2022003059
(419) 766-9988
Source:
Svn-acre
Added: Jul 4
Changed: Jul 21
Last Checked: Sep 4 at 5:48AM
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 SVN | Ascension Commercial Realty
Investment Insights
Based on property information with market context.
This 2,970 SF self-service car wash was built in 1971 and is offered for sale on 0.1837 acres. The property includes two self-service bays and one automatic bay; the automatic bay is currently out of commission for repairs. On site, there are two coin-paid vacuums, a change machine, and four product vending towers located at the front of the building.
Access is provided from Lagrange Street (7,355 VPD, as provided), with additional traffic data listed for E Manhattan Blvd (7,499 VPD) and I-475 (83,849 VPD), supporting visibility along major corridors in Toledo.
The car wash accepts coin and card at the bays, and the property is configured as a functional, equipment-focused car wash site with on-premise change and vending.
Access is provided from Lagrange Street (7,355 VPD, as provided), with additional traffic data listed for E Manhattan Blvd (7,499 VPD) and I-475 (83,849 VPD), supporting visibility along major corridors in Toledo.
The car wash accepts coin and card at the bays, and the property is configured as a functional, equipment-focused car wash site with on-premise change and vending.
Key Highlights
- 2,970 SF self‑service car wash built in 1971 on 0.1837 acres
- Features two self‑service bays and one automatic bay (automatic bay currently out of commission for repairs)
- Automatic bay accepts coin and card; includes on‑site coin‑paid vacuums
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
$22,614
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
8.22%
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%
$452,280
$452.3K
Cap Rate 7%
$323,057
$323.1K
Cap Rate 9%
$251,267
$251.3K
Market Conditions
NOI Build-Up for 2,970 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
$32.1K $10.80/SF
− Vacancy
−$1.9K −$0.65/SF
EGI
$30.2K $10.15/SF
− OpEx
−$7.5K −$2.54/SF
NOI
$22.6K $7.61/SF
Area
Toledo, OH
Vacancy
6.00%
Lease Rate
$10.80 /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%
$452,280
Cap Rate 7%
$323,057
Cap Rate 9%
$251,267
Alternative Uses
Best Use
Specialty Retail
$323.1K
$282.7K – $376.9K
NOI $22,614 @ 7.0% cap · market cap 8.22%
Second Best
Retail
$276.6K
$242.1K – $322.7K
NOI $19,364 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$494.3K
$432.5K – $576.7K
NOI $34,599 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
83,849 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Electronics 23%
Home Improvements & Furnishings 21%
Marco's Pizza
Dining
989 visits/mo
0.2 miles
Vito's Pizza & Subs
Dining
893 visits/mo
0.3 miles
Boost Mobile
Electronics
759 visits/mo
0.4 miles
Johnstone Supply
Home Improvements & Furnishings
688 visits/mo
0.4 miles
Demographics for 43608, OH
12,948
Population
6,419
Households
2
Avg Household Size
35
Median Age
10%
College-Educated
75%
High-School Grad
3.3 sq mi
ZIP Area
3,924
Density / Sq Mi
$28,535
Median Household Income
$24,107
Median Earnings
$828
Median Rent
$41,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - 2,970 SF car wash built in 1971 with self-service bays, coin-paid vacuums, and four vending towers on 0.1837 acres.
Where is this self service car wash located?
The property is located at 3562 Lagrange St Toledo, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,970 SF self‑service car wash built in 1971 on 0.1837 acres; Features two self‑service bays and one automatic bay (automatic bay currently out of commission for repairs); Automatic bay accepts coin and card; includes on‑site coin‑paid vacuums
