Established Car Wash Business
For Sale
Contact for pricing
423 N Colorado Ave, Burrton, KS 67020
Thriving car wash business with income-generating lease and expansion potential.
Property Size1,230 SF
Lot Size1.38 Acres
Price / SF$105.69
Days on Market162
Property Features for 423 N Colorado Ave
General Information
Standard status
Active
Size
1,230 SF
Lot size
1.38 Acres
Property subtype
Business for Sale, Land
Zoning
C - Commercial & Industrial
Building Details
Year Built
1970
Year Renovated
2023
Units
2
Listing Agency:
RE/MAX Associates
Listed By:
M. Kaitlyn Rostetter · License #00247867
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 10 at 11:17AM
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 RE/MAX Associates
Investment Insights
Based on property information with market context.
This property features a self-serve car wash business situated in Burrton. The car wash includes two wash bays equipped with new equipment and modern pressure washers, along with vacuum stations. The property, spanning 1.38 acres, is located just off a high-traffic highway, providing exposure and customer flow. A coffee truck parking lease is in place, generating monthly income. The property offers space for future expansion or additional business opportunities. The property is suitable for automotive or retail use, or could be used as commercial land.
Key Highlights
- Prime location off a high‑traffic highway ensures exceptional exposure and strong customer flow.
- Ready‑to‑run self‑serve car wash business with all new equipment, modern pressure washers, and vacuum stations.
- Existing coffee truck parking lease generates steady monthly income.
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
$10,626
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
8.17%
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%
$212,520
$212.5K
Cap Rate 7%
$151,800
$151.8K
Cap Rate 9%
$118,067
$118.1K
Market Conditions
NOI Build-Up for 1,230 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
$16.2K $13.20/SF
− Vacancy
−$1.1K −$0.86/SF
EGI
$15.2K $12.34/SF
− OpEx
−$4.6K −$3.70/SF
NOI
$10.6K $8.64/SF
Area
Harvey County, KS
Vacancy
6.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$212,520
Cap Rate 7%
$151,800
Cap Rate 9%
$118,067
Alternative Uses
Best Use
Specialty Retail
$190.2K
$166.4K – $221.9K
NOI $13,312 @ 7.0% cap · market cap 10.24%
Second Best
Retail
$151.8K
$132.8K – $177.1K
NOI $10,626 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$261.1K
$228.5K – $304.7K
NOI $18,279 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
2,698 visits/mo
0.2 miles
Demographics for 67020, KS
1,666
Population
686
Households
2.4
Avg Household Size
43
Median Age
20%
College-Educated
88%
High-School Grad
126.6 sq mi
ZIP Area
13
Density / Sq Mi
$77,848
Median Household Income
$37,161
Median Earnings
$819
Median Rent
$116,500
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 - Thriving car wash business with income-generating lease and expansion potential.
Where is this self service car wash located?
The property is located at 423 N Colorado Ave Burrton, KS.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Prime location off a high‑traffic highway ensures exceptional exposure and strong customer flow.; Ready‑to‑run self‑serve car wash business with **all new equipment**, **modern pressure washers**, and vacuum stations.; Existing coffee truck parking lease generates steady monthly income.
