Car Wash with Automatic and Self-Serve
For Sale
$1,050,000
386 Baypark Dr, Holland, MI 49424
PUD C-2 zoning combines dog-wash amenities, vacuum stations, automatic bays, and self-service wash facilities.
Property Size8,193 SF
Price / SF$128.16
Days on Market15
Property Features for 386 Baypark Dr
General Information
Standard status
Active
Size
8,193 SF
Total Parking Spaces
15
Property subtype
Other
Zoning
PUD C-2
Amenities
Power
Water
Sewer
Natural Gas
15 Parking Spaces
Building Details
Year Built
2005
Tenancy
Single Tenant
Listing Agency:
Remax Lakeshore
(616) 218-7336
Listed By:
Todd Johns · License #6501310392
(616) 218-7336
Source:
Carwm.resimplifi
Added: Aug 17
Changed: Aug 31
Last Checked: Aug 31 at 9:46AM
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 Remax Lakeshore
Investment Insights
Based on property information with market context.
This car wash property includes three automatic wash bays and four self-service bays, along with a dog wash and vacuum stations. The improvements were constructed in 2005 and incorporate a 2,250-square-foot Batteries Plus occupancy.
The property is positioned at the corner of Baypark Drive and Lakewood Boulevard in Holland, Michigan. Its address is 386 Baypark Dr, Holland, MI 49424, and the site carries PUD C-2 zoning. The combination of automated and self-service equipment provides distinct wash formats within the same commercial property.
The property is positioned at the corner of Baypark Drive and Lakewood Boulevard in Holland, Michigan. Its address is 386 Baypark Dr, Holland, MI 49424, and the site carries PUD C-2 zoning. The combination of automated and self-service equipment provides distinct wash formats within the same commercial property.
Key Highlights
- Three automatic wash bays and four self‑service bays
- Dog wash and on‑site vacuum stations
- PUD C‑2 zoning
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
$91,126
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
8.68%
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%
$1,822,520
$1.8M
Cap Rate 7%
$1,301,800
$1.3M
Cap Rate 9%
$1,012,511
$1.0M
Market Conditions
NOI Build-Up for 8,193 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
$126.8K $15.48/SF
− Vacancy
−$5.3K −$0.65/SF
EGI
$121.5K $14.83/SF
− OpEx
−$30.4K −$3.71/SF
NOI
$91.1K $11.12/SF
Area
Ottawa County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$1,822,520
Cap Rate 7%
$1,301,800
Cap Rate 9%
$1,012,511
Alternative Uses
Best Use
Industrial
$1.73M
$1.51M – $2.02M
NOI $120,905 @ 7.0% cap · market cap 11.51%
Second Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,126 @ 7.0% cap · market cap 8.68%
Theoretical Best
Multifamily LT 5
$101.88M
$89.15M – $118.86M
NOI $7,131,752 @ 7.0% cap · market cap 679.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 49424, MI
47,963
Population
19,906
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
57.3 sq mi
ZIP Area
837
Density / Sq Mi
$82,353
Median Household Income
$41,316
Median Earnings
$1,157
Median Rent
$270,000
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?
Car wash - PUD C-2 zoning combines dog-wash amenities, vacuum stations, automatic bays, and self-service wash facilities.
Where is this car wash located?
The property is located at 386 Baypark Dr Holland, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three automatic wash bays and four self‑service bays; Dog wash and on‑site vacuum stations; PUD C‑2 zoning
