Heatherdowns Car Wash For
For Sale
Contact for pricing
4425 Heatherdowns Blvd, Toledo, OH 43614
Car wash with manual and touchless bays on busy street.
Property Size2,745 SF
Price / SF$182.15
Days on Market557
Property Features for 4425 Heatherdowns Blvd
General Information
Standard status
Active
Size
2,745 SF
Property subtype
Special Purpose
Zoning
CR
Building Details
Year Built
1997
Listing Agency:
Reichle | Klein Group
(419) 861-1100
Listed By:
Brent Patterson · License #OH 0000399625
Source:
Crexi
Added: Feb 11, 2025
Changed: Aug 21
Last Checked: Aug 21 at 1:53PM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
A car wash located on Heatherdowns Boulevard is available for purchase. The property benefits from high visibility on a heavily traveled road, which sees approximately 16,000 vehicles per day. The car wash includes 5 manual bays and 1 touchless bay. The property size is 2,745 square feet.
Key Highlights
- High visibility location on Heather Downs Blvd.
- Heavily traveled road with approximately 16,000 vehicles per day.
- Five manual bays.
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
$20,900
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
4.18%
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%
$418,000
$418.0K
Cap Rate 7%
$298,571
$298.6K
Cap Rate 9%
$232,222
$232.2K
Market Conditions
NOI Build-Up for 2,745 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
$29.6K $10.80/SF
− Vacancy
−$1.8K −$0.65/SF
EGI
$27.9K $10.15/SF
− OpEx
−$7.0K −$2.54/SF
NOI
$20.9K $7.61/SF
Area
Toledo, OH
Vacancy
6.00%
Lease Rate
$10.80 /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%
$418,000
Cap Rate 7%
$298,571
Cap Rate 9%
$232,222
Alternative Uses
Best Use
Specialty Retail
$298.6K
$261.3K – $348.3K
NOI $20,900 @ 7.0% cap · market cap 4.18%
Second Best
Retail
$255.7K
$223.7K – $298.3K
NOI $17,897 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$456.8K
$399.7K – $533.0K
NOI $31,978 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Dollar General
Shops & Services
8,329 visits/mo
0.1 miles
Sunoco
Shops & Services
6,630 visits/mo
0.0 miles
Huntington Bank
Shops & Services
5,038 visits/mo
0.4 miles
Papa John's Pizza
Dining
1,280 visits/mo
0.0 miles
Demographics for 43614, OH
29,866
Population
14,651
Households
2
Avg Household Size
42
Median Age
32%
College-Educated
94%
High-School Grad
9.0 sq mi
ZIP Area
3,318
Density / Sq Mi
$57,253
Median Household Income
$38,463
Median Earnings
$887
Median Rent
$160,600
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 - Car wash with manual and touchless bays on busy street.
Where is this self service car wash located?
The property is located at 4425 Heatherdowns Blvd Toledo, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: High visibility location on Heather Downs Blvd.; Heavily traveled road with approximately 16,000 vehicles per day.; Five manual bays.
