Six-Bay Self-Service Car
For Sale
$650,000
37521 Green St New, New Baltimore, MI 48047
Operational wash facility with updated mechanical systems, truck-capable high-bay space, and a fenced rear yard.
Property Size3,866 SF
Lot Size1.05 Acres
Days on Market193
Property Features for 37521 Green St New
General Information
Standard status
Active
Size
3,866 SF
Lot size
1.05 Acres
Property subtype
Other Hospitality
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Business Included
Yes
Car Wash Bays
6
Amenities
coin operated vacuums
quarter machine
vendor machine
high-bay area for trucks
Building Details
Building Size
3,866 SF
Year Built
1984
Listing Agency:
P.A. Commercial Corporate & Investment Real Estate
(248) 663-0506
Listed By:
John Arthurs · License #6501222941
(248) 663-0506
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 5:57PM
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 P.A. Commercial Corporate & Investment Real Estate
Investment Insights
Based on property information with market context.
This self-service car wash includes six manually operated bays supported by updated mechanical systems. The facility also has three coin-operated vacuums, a quarter machine, and a vendor machine. A high-bay area accommodates trucks, while the fenced rear portion of the property provides trailer parking and outside storage space.
The property occupies 1.05 acres on Green Street, east of County Line Road, near Lake St. Clair. Built in 1984, the site includes a fenced lot and rear yard that expand its practical operating and storage configuration.
The property occupies 1.05 acres on Green Street, east of County Line Road, near Lake St. Clair. Built in 1984, the site includes a fenced lot and rear yard that expand its practical operating and storage configuration.
Key Highlights
- Six (6) manually operated car wash bays
- Updated mechanical systems and operational wash facility
- Three (3) coin operated vacuums, quarter machine, and vendor machine
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
$50,664
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
7.79%
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%
$1,013,280
$1.0M
Cap Rate 7%
$723,771
$723.8K
Cap Rate 9%
$562,933
$562.9K
Market Conditions
NOI Build-Up for 3,866 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
$76.5K $19.80/SF
− Vacancy
−$9.0K −$2.33/SF
EGI
$67.6K $17.47/SF
− OpEx
−$16.9K −$4.37/SF
NOI
$50.7K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /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%
$1,013,280
Cap Rate 7%
$723,771
Cap Rate 9%
$562,933
Alternative Uses
Best Use
Specialty Retail
$723.8K
$633.3K – $844.4K
NOI $50,664 @ 7.0% cap · market cap 7.79%
Second Best
Retail
$408.2K
$357.2K – $476.3K
NOI $28,577 @ 7.0% cap · market cap 4.40%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
Shell
Shops & Services
8,469 visits/mo
0.1 miles
Dollar General
Shops & Services
6,040 visits/mo
0.4 miles
Hungry Howie's Pizza
Dining
1,107 visits/mo
0.1 miles
Demographics for 48047, MI
39,775
Population
16,765
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,210
Density / Sq Mi
$95,381
Median Household Income
$50,151
Median Earnings
$1,109
Median Rent
$297,600
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 - Operational wash facility with updated mechanical systems, truck-capable high-bay space, and a fenced rear yard.
Where is this self service car wash located?
The property is located at 37521 Green St New New Baltimore, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Six (6) manually operated car wash bays; Updated mechanical systems and operational wash facility; Three (3) coin operated vacuums, quarter machine, and vendor machine
