Building Details

Year Built 1974

Listing Agency: Turlington Real Estate Group

Listed By: Lucia Turlington · License #265256 Show Phone

Source: Tcrnc

Added: Sep 18 Changed: Oct 25 Last Checked: Oct 7 at 3:52PM

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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 Turlington Real Estate Group

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Investment Insights

Based on property information with market context.

This automotive property at 365 S McKinley St in Coats, NC, includes a touchless LaserWash G5, three self-service wash bays, five vacuums, and car wash vending. The site also features a mechanic shop with 13 service bays, and most mechanic equipment is included in the sale.

The property covers 1.64 acres with 300 feet of road frontage on McKinley St. It includes 80 mini storage units, adding a storage component to the car wash and repair operations. The improvements date to 1974.

Key Highlights

• 1.64‑acre property with 300 feet of road frontage on McKinley St
• Touchless LaserWash G5 system
• 13 service bays in the mechanic shop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$109,892

Cap Rate

9.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,197,840 $2.2M

Cap Rate 7%

$1,569,886 $1.6M

Cap Rate 9%

$1,221,022 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,505 SF

Gross rent

$195.4K $12.60/SF

− Vacancy

−$19.5K −$1.26/SF

EGI

$175.8K $11.34/SF

− OpEx

−$65.9K −$4.25/SF

NOI

$109.9K $7.09/SF

Area

Harnett County, NC

Vacancy

10.00%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,197,840

Cap Rate 7%

$1,569,886

Cap Rate 9%

$1,221,022

Alternative Uses

Best Use

Specialty Retail

$2.66M

$2.32M – $3.10M (±1% cap)

NOI $185,868 @ 7.0% cap · market cap 15.49%

Second Best

Retail

$1.96M

$1.72M – $2.29M (±1% cap)

NOI $137,347 @ 7.0% cap · market cap 11.45%

Theoretical Best

Office A

$3.38M

$2.95M – $3.94M (±1% cap)

NOI $236,266 @ 7.0% cap · market cap 19.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Stewart's Tire Service (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Dental Office HVAC Service Real Estate Agency Electrical Service Plumbing Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

13

Service bays

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

121

Businesses Nearby

Explore this area Business Placement

Demographics for 27521, NC

6,345

Population

2,896

Households

2.2

Avg Household Size

38

Median Age

21%

College-Educated

80%

High-School Grad

26.0 sq mi

ZIP Area

244

Density / Sq Mi

$57,540

Median Household Income

$40,742

Median Earnings

$912

Median Rent

$201,700

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Frequently Asked Questions

What type of property is this?

Car wash - Automotive property combines touchless washing, self-service bays, and an on-site mechanic shop.

Where is this car wash located?

The property is located at 365 S McKinley St Coats, NC.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 1.64‑acre property with 300 feet of road frontage on McKinley St; Touchless LaserWash G5 system; 13 service bays in the mechanic shop