Turnkey Car Wash & Oil
For Sale
$499,800
47365 Five Mile Road, Plymouth, MI 48170
Newer 110-foot tunnel car wash plus a four-bay oil change setup, offered as a turn-key business with long-term lease.
Property Size5,000 SF
Days on Market93
Property Features for 47365 Five Mile Road
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Service Bays
4
Taxes and HOA fees
Annual Taxes
$2.00
Building Details
Building Size
5,000 SF
Year Built
2008
Listing Agency:
Century 21 Curran & Oberski
(313) 715-2020
Listed By:
Bill M Darwich · License #6501368264
Source:
Buyatthelake
Added: May 23
Changed: Aug 23
Last Checked: Aug 23 at 6:23AM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This for-sale car wash and oil change business is offered as a completely turn-key operation. The property includes a newer-built 2008, 110-foot tunnel car wash with updated equipment, along with a four-bay oil change facility.
The business is located on a corner at Five Mile and Beck, in a growing area of the City of Plymouth and the City of Northville, with high traffic counts cited in the listing.
A long-term lease is in place at a “great rate,” and the listing notes room for growth for an owner-operator or investor. All other details are described as approximate in the provided remarks.
The business is located on a corner at Five Mile and Beck, in a growing area of the City of Plymouth and the City of Northville, with high traffic counts cited in the listing.
A long-term lease is in place at a “great rate,” and the listing notes room for growth for an owner-operator or investor. All other details are described as approximate in the provided remarks.
Key Highlights
- 110‑ft tunnel car wash built in 2008 with updated equipment
- Four‑bay oil change setup included
- Business offered as turn‑key with a long‑term lease in place
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
$25,885
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
5.18%
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%
$517,700
$517.7K
Cap Rate 7%
$369,786
$369.8K
Cap Rate 9%
$287,611
$287.6K
Market Conditions
NOI Build-Up for 5,000 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
$38.4K $7.68/SF
− Vacancy
−$1.4K −$0.28/SF
EGI
$37.0K $7.40/SF
− OpEx
−$11.1K −$2.22/SF
NOI
$25.9K $5.18/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /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%
$517,700
Cap Rate 7%
$369,786
Cap Rate 9%
$287,611
Alternative Uses
Best Use
Specialty Retail
$925.7K
$810.0K – $1.08M
NOI $64,800 @ 7.0% cap · market cap 12.97%
Second Best
Retail
$676.8K
$592.2K – $789.6K
NOI $47,376 @ 7.0% cap · market cap 9.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
173k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 19%
Home Improvements & Furnishings 18%
Hotels & Casinos 2%
The Home Depot
Home Improvements & Furnishings
30,095 visits/mo
0.3 miles
Shell
Shops & Services
29,413 visits/mo
0.1 miles
McDonald's
Dining
27,324 visits/mo
0.2 miles
Starbucks
Dining
15,583 visits/mo
0.2 miles
Panera Bread
Dining
13,539 visits/mo
0.1 miles
Demographics for 48170, MI
41,069
Population
18,184
Households
2.3
Avg Household Size
45
Median Age
59%
College-Educated
97%
High-School Grad
34.5 sq mi
ZIP Area
1,190
Density / Sq Mi
$109,442
Median Household Income
$68,920
Median Earnings
$1,114
Median Rent
$400,800
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?
Car wash - Newer 110-foot tunnel car wash plus a four-bay oil change setup, offered as a turn-key business with long-term lease.
Where is this car wash located?
The property is located at 47365 Five Mile Road Plymouth, MI.
What is the asking price?
The asking price for this property is $499,800.
What are key features of this property?
This property features: 110‑ft tunnel car wash built in 2008 with updated equipment; Four‑bay oil change setup included; Business offered as turn‑key with a long‑term lease in place
