8-Bay Coin-Operated Car
47720 E Gratiot Avenue, Chesterfield, MI 48051
For Sale
New
$399,000
Commercial zoning and Gratiot Avenue frontage support the property's automotive use.
Property Size3,942 SF
Price / SF$101.22
Days on Market4
Property Features for 47720 E Gratiot Avenue
General Information
Standard status
Size
Property subtype
Zoning
Automotive
Car Wash Bays
Automotive Uses
Car Wash Format
Additional Details
Road Access
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
First Team Real Estate
Listed By:
Dominic Prezzato
(586) 436-3295
Source:
Homeflexrealty
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 13 at 2:00PM
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 First Team Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,942-square-foot, eight-bay car wash was built in 1982 and operated as a coin-operated facility. The property is currently closed and offered in as-is condition; the seller does not know whether the existing equipment operates.
The site fronts E Gratiot Avenue in Chesterfield, Michigan, and is zoned Commercial. The sale is as-is, with the existing car wash improvements and equipment conveyed in their current condition.
The site fronts E Gratiot Avenue in Chesterfield, Michigan, and is zoned Commercial. The sale is as-is, with the existing car wash improvements and equipment conveyed in their current condition.
Key Highlights
- Eight‑bay coin‑operated car wash
- 3,942 square feet; built in 1982
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,139
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,780
$582.8K
Cap Rate 7%
$416,271
$416.3K
Cap Rate 9%
$323,767
$323.8K
Market Conditions
NOI Build-Up for 3,942 SF
Gross rent
$47.3K $12.00/SF
− Vacancy
−$5.7K −$1.44/SF
EGI
$41.6K $10.56/SF
− OpEx
−$12.5K −$3.17/SF
NOI
$29.1K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,780
Cap Rate 7%
$416,271
Cap Rate 9%
$323,767
Alternative Uses
Best Use
Specialty Retail
$738.0K
$645.8K – $861.0K
NOI $51,660 @ 7.0% cap · market cap 12.95%
Second Best
Retail
$416.3K
$364.2K – $485.7K
NOI $29,139 @ 7.0% cap · market cap 7.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
47k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 10%
Electronics 5%
Speedway
Shops & Services
16,940 visits/mo
0.4 miles
Genisys Credit Union
Shops & Services
5,877 visits/mo
0.1 miles
Exxon
Shops & Services
5,501 visits/mo
0.4 miles
Fifth Third Bank & ATM
Shops & Services
4,584 visits/mo
0.3 miles
The UPS Store
Shops & Services
4,327 visits/mo
0.4 miles
Demographics for 48051, MI
17,718
Population
7,255
Households
2.4
Avg Household Size
40
Median Age
24%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
1,248
Density / Sq Mi
$89,923
Median Household Income
$50,569
Median Earnings
$1,064
Median Rent
$247,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Self service car wash - Commercial zoning and Gratiot Avenue frontage support the property's automotive use.
Where is this self service car wash located?
The property is located at 47720 E Gratiot Avenue Chesterfield, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Eight‑bay coin‑operated car wash; 3,942 square feet; built in 1982; Commercial zoning
