Car Wash Property with Open
New
For Sale
$50,000
4696 Hanson Rd, Madisonville, KY 42431
Utility service is in place, with a concrete pad supporting the existing commercial improvements.
Property Size1,000 SF
Lot Size0.74 Acres
Price / SF$50
Days on Market7
Property Features for 4696 Hanson Rd
General Information
Standard status
Active
Size
1,000 SF
Lot size
0.74 Acres
Property subtype
Commercial Building
Additional Details
Utilities to Site
Yes
Car Wash Bays
2
Amenities
Lot Size Acres: 0.9, Lot Size Square Feet: 39190
Sewer Type: Municipal
Percentage of Tax that is Deductable: 0
Sale, Sale Type: Foreclosure, Sale Type: Auction, Online Only Auction, Auction URL: https://bakerauctionandrealty.hibid.com/catalog/765096/established-car-wash-property-with-high-visibility-location, Auction Start Time: 2026-08-05 04:00:00, Auction End Time: 2026-08-31 04:00:00
One Story, Built in 2016
Street View
Water Source: Community
Construction Type: Frame
Building Details
Year Built
2016
Buildings
1
Listing Agency:
Baker Auction and Realty
(812) 491-6247
Listed By:
Jonathan Baker · License #RB14032449
(812) 491-6247
Source:
Doyle-realty
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 11 at 6:33AM
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 Baker Auction and Realty
Investment Insights
Based on property information with market context.
Located at 4696 Hanson Rd in Madisonville, this 0.74-acre car wash property includes a 1,000-square-foot building and two open wash bays. The site was built in 2016 and includes a substantial concrete pad for the existing operation.
Water, sewer, and electric utilities are already connected to the property. Commercial zoning allows flexibility for continued car wash use, business expansion, or redevelopment within the permitted commercial framework.
Water, sewer, and electric utilities are already connected to the property. Commercial zoning allows flexibility for continued car wash use, business expansion, or redevelopment within the permitted commercial framework.
Key Highlights
- 0.74‑acre car wash property at 4696 Hanson Rd, Madisonville, KY 42431
- 1,000‑square‑foot building constructed in 2016
- Two open wash 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
$4,274
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
8.55%
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%
$85,480
$85.5K
Cap Rate 7%
$61,057
$61.1K
Cap Rate 9%
$47,489
$47.5K
Market Conditions
NOI Build-Up for 1,000 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
$6.6K $6.60/SF
− Vacancy
−$495 −$0.50/SF
EGI
$6.1K $6.10/SF
− OpEx
−$1.8K −$1.83/SF
NOI
$4.3K $4.27/SF
Area
Hopkins County, KY
Vacancy
7.50%
Lease Rate
$6.60 /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%
$85,480
Cap Rate 7%
$61,057
Cap Rate 9%
$47,489
Alternative Uses
Best Use
Retail
$157.0K
$137.4K – $183.2K
NOI $10,990 @ 7.0% cap · market cap 21.98%
Second Best
Specialty Retail
$144.1K
$126.1K – $168.1K
NOI $10,088 @ 7.0% cap · market cap 20.18%
Theoretical Best
Office A
$168.7K
$147.6K – $196.8K
NOI $11,808 @ 7.0% cap · market cap 23.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
2,617 visits/mo
0.1 miles
Demographics for 42431, KY
26,566
Population
12,569
Households
2.1
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
166.7 sq mi
ZIP Area
159
Density / Sq Mi
$57,529
Median Household Income
$37,671
Median Earnings
$858
Median Rent
$151,800
Median Home Value
Market
Vacancy Rate% for Retail in South 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 - Utility service is in place, with a concrete pad supporting the existing commercial improvements.
Where is this car wash located?
The property is located at 4696 Hanson Rd Madisonville, KY.
What is the asking price?
The asking price for this property is $50,000.
What are key features of this property?
This property features: 0.74‑acre car wash property at 4696 Hanson Rd, Madisonville, KY 42431; 1,000‑square‑foot building constructed in 2016; Two open wash bays
