Self-Service Car Wash
New
For Sale
$350,000
47720 Gratiot Avenue, New Baltimore, MI 48051
Commercially zoned car wash property offered in as-is condition.
Property Size3,942 SF
Days on Market3
Property Features for 47720 Gratiot Avenue
General Information
Standard status
Active
Size
3,942 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$9,097
Building Details
Building Size
3,942 SF
Year Built
1982
Listing Agency:
World Showcase Realty
(586) 675-8791
Listed By:
Vince Saragosa · License #6501269114
Source:
Thebrokeragehouse
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 6 at 12:42PM
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 World Showcase Realty
Investment Insights
Based on property information with market context.
This self-service car wash property is located at 47720 Gratiot Avenue in New Baltimore, Michigan. The property carries Commercial zoning and was built in 1982.
The sale is offered in as-is condition. The seller has not confirmed whether the existing car wash equipment is operational, so equipment functionality remains to be verified.
The sale is offered in as-is condition. The seller has not confirmed whether the existing car wash equipment is operational, so equipment functionality remains to be verified.
Key Highlights
- Self‑service car wash property
- Commercial zoning
- Built in 1982
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
$29,139
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
8.33%
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%
$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
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
$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 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%
$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 14.76%
Second Best
Retail
$416.3K
$364.2K – $485.7K
NOI $29,139 @ 7.0% cap · market cap 8.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Retail in Midwest 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?
Self service car wash - Commercially zoned car wash property offered in as-is condition.
Where is this self service car wash located?
The property is located at 47720 Gratiot Avenue New Baltimore, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Self‑service car wash property; Commercial zoning; Built in 1982
