Touchless Automatic Car
For Sale
$675,000
3938 Columbus Road, Centerburg, OH 43011
Car wash with self-service bays, vacuum stations, and integrated wash equipment.
Property Size2,256 SF
Days on Market29
Property Features for 3938 Columbus Road
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Car Wash Bays
4
Taxes and HOA fees
Annual Taxes
$4,270
Amenities
Hydro-Spray Rainmaker System
Two Car Vacuum Station
Building Details
Building Size
2,256 SF
Year Built
2001
Units
1
Listing Agency:
Best Corporate Real Estate
(614) 559-3350
Listed By:
Randy J Best · License #311236
Source:
Honnerlawrealestate
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 25 at 9:18AM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
This car wash property includes a touchless automatic wash, three self-service bays, and two car vacuum stations. The facility measures 2,256 square feet and was built in 2001. Improvements include a Hydro-Spray Rainmaker system supporting the wash operation.
The property is located at 3938 Columbus Road in Centerburg, Ohio, with the site positioned along Route 36. Its combination of automatic and self-service components provides multiple customer-use areas within one established automotive facility.
The property is located at 3938 Columbus Road in Centerburg, Ohio, with the site positioned along Route 36. Its combination of automatic and self-service components provides multiple customer-use areas within one established automotive facility.
Key Highlights
- Touchless automatic car wash
- Three self‑service bays
- Hydro‑Spray Rainmaker system
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
$44,049
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
6.53%
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%
$880,980
$881.0K
Cap Rate 7%
$629,271
$629.3K
Cap Rate 9%
$489,433
$489.4K
Market Conditions
NOI Build-Up for 2,256 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
$60.9K $27.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$58.7K $26.03/SF
− OpEx
−$14.7K −$6.51/SF
NOI
$44.0K $19.53/SF
Area
Knox County, OH
Vacancy
3.58%
Lease Rate
$27.00 /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%
$880,980
Cap Rate 7%
$629,271
Cap Rate 9%
$489,433
Alternative Uses
Best Use
Specialty Retail
$629.3K
$550.6K – $734.2K
NOI $44,049 @ 7.0% cap · market cap 6.53%
Second Best
Industrial
$132.4K
$115.9K – $154.5K
NOI $9,270 @ 7.0% cap · market cap 1.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,894 visits/mo
0.1 miles
Sunoco
Shops & Services
3,989 visits/mo
0.0 miles
Park National Bank
Shops & Services
2,594 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
828 visits/mo
0.1 miles
Demographics for 43011, OH
7,559
Population
2,804
Households
2.7
Avg Household Size
42
Median Age
27%
College-Educated
97%
High-School Grad
80.0 sq mi
ZIP Area
94
Density / Sq Mi
$97,929
Median Household Income
$57,897
Median Earnings
$741
Median Rent
$287,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Car wash with self-service bays, vacuum stations, and integrated wash equipment.
Where is this car wash located?
The property is located at 3938 Columbus Road Centerburg, OH.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Touchless automatic car wash; Three self‑service bays; Hydro‑Spray Rainmaker system
