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    Turnkey Car Wash Business Opportunity Title is generated by Realmo AI

    4172 Lakeville Rd, Geneseo, NY 14454

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    Claim this Listing
    For Sale
    $299,900

    Established car wash with six bays, great location, endless possibilities.

    Type:General Commercial
    Property size:
    2,640 SF
    Price / SF:
    $113/SF
    Added:
    Sep 5, 2024
    Days on Market:
    634
    Last Refresh:
    May 13 at 8:19 pm

    Property Features for 4172 Lakeville Rd

    General Information

    Standard status
    Active
    Size
    2,640 SF
    Property subtype
    General Commercial

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    Howard Hanna

    Listing agent Howard Hanna

    Listing office

    Listing date Sep 5, 2024

    Source Xome

    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 Howard Hanna

    HighLights

    • Turnkey car wash business opportunity in the Village of Geneseo.
    • High‑traffic location between Lakeville Road and Reservoir Road.
    • Six self‑serving car wash bays with potential for conversion to laser wash.
    • Radiant heat flooring in each bay with individual drains connected to the public sewer system.
    • Well‑maintained property with roof replaced in 2011.
    • Convenient access to I‑390 and SUNY Geneseo.

    Overview

    This turnkey operation features a 2,640 square foot block building with six self-serving car wash bays. Constructed in 1993 by the original owner, this is the first time the property has been offered for sale. The property is situated between Lakeville Road and Reservoir Road, benefiting from substantial weekly traffic. The car wash presents an opportunity to own a self-service car wash or convert some of the six bays into a laser wash. Currently a cash-only business, there is potential to add credit card acceptance. The central boiler room houses two boilers, a newer forced air natural gas furnace, and car wash equipment, including soaps and a coin dispenser. The floors of the bays have radiant heat under the concrete, and each bay is equipped with its own drain connected to the public sewer system. Six vacuum units are available for interior car cleaning. The roof was replaced in 2011, and the property has been very well maintained. The property is located minutes from I-390 and SUNY Geneseo.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self service car ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Geneseo
    County
    Livingston
    State
    New York
    Longitude
    -77.7933246
    Latitude
    42.7953179

    Nearby Similar for Sale

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    • $479,900
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      Updated 6-Unit Investment Property

      Fully updated 6-unit property near SUNY Geneseo.
      72 2nd Street, Geneseo, NY 14454
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    • $299,900
      2,640 SF

      Turnkey Car Wash Business Opportunity

      Six-bay self-service car wash in Geneseo, NY, for sale.
      4172 Lakeville Rd, Geneseo, NY, 14454-1134
      View Details

    FAQs

    What type of property is this?
    Self service car wash - Established car wash with six bays, great location, endless possibilities.
    Where is this self service car wash located?
    The property is located at 4172 Lakeville Rd Geneseo, NY.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Turnkey car wash business opportunity in the Village of Geneseo.; High‑traffic location between Lakeville Road and Reservoir Road.; Six self‑serving car wash bays with potential for conversion to laser wash.
    (585) 335-2070
    We can help!
    Listing Contact
    Howard Hanna
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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