Car Wash Site with Dual
For Sale
$530,000
4803 Gerrardstown Rd, Inwood, WV 25428
For-sale 10.53-acre car wash site with access from Gerrardstown Road and Pilgrim Street.
Property Size2,242 SF
Price / SF$236.40
Days on Market96
Property Features for 4803 Gerrardstown Rd
General Information
Standard status
Active
Size
2,242 SF
Total Parking Spaces
12
Taxes and HOA fees
Annual Taxes
$3,566
Amenities
Baseboard, Electric
Building Details
Building Size
2,242 SF
Year Built
2004
Listing Agency:
BLACK DIAMOND REALTY, LLC
Listed By:
W. Aaron Poling · License #WV0027374
(304) 283-0214
Source:
Evrealestate
Added: Jun 2
Changed: Aug 23
Last Checked: Sep 4 at 5:00AM
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 BLACK DIAMOND REALTY, LLC
Investment Insights
Based on property information with market context.
This for-sale 10.53-acre property is currently improved as a car wash site and includes existing commercial infrastructure. The site offers flexible redevelopment potential for a variety of retail, service, or investment uses.
The property is located in an established retail and shopping center corridor with access from both Gerrardstown Road and Pilgrim Street. It is also described as being near Interstate 81, supporting convenient regional access across the Eastern Panhandle and the greater Washington-Baltimore area.
As a car wash property with multiple access points, the site can be considered for continued use as well as redevelopment, depending on a buyer’s plans.
The property is located in an established retail and shopping center corridor with access from both Gerrardstown Road and Pilgrim Street. It is also described as being near Interstate 81, supporting convenient regional access across the Eastern Panhandle and the greater Washington-Baltimore area.
As a car wash property with multiple access points, the site can be considered for continued use as well as redevelopment, depending on a buyer’s plans.
Key Highlights
- 10.53‑acre commercial property improved as a car wash site
- Access from both Gerrardstown Road and Pilgrim Street
- Located within an established retail and shopping center corridor
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
$21,838
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
4.12%
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%
$436,760
$436.8K
Cap Rate 7%
$311,971
$312.0K
Cap Rate 9%
$242,644
$242.6K
Market Conditions
NOI Build-Up for 2,242 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
$31.5K $14.04/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$29.1K $12.99/SF
− OpEx
−$7.3K −$3.25/SF
NOI
$21.8K $9.74/SF
Area
Berkeley County, WV
Vacancy
7.50%
Lease Rate
$14.04 /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%
$436,760
Cap Rate 7%
$311,971
Cap Rate 9%
$242,644
Alternative Uses
Best Use
Specialty Retail
$312.0K
$273.0K – $364.0K
NOI $21,838 @ 7.0% cap · market cap 4.12%
Second Best
Retail
$206.6K
$180.7K – $241.0K
NOI $14,459 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$405.9K
$355.1K – $473.5K
NOI $28,411 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
154k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Groceries 27%
Shops & Services 21%
Hotels & Casinos 2%
Food Lion Grocery Store
Groceries
40,920 visits/mo
0.5 miles
McDonald's
Dining
36,054 visits/mo
0.2 miles
Burger King
Dining
13,777 visits/mo
0.0 miles
Taco Bell
Dining
11,893 visits/mo
0.1 miles
BP
Shops & Services
9,485 visits/mo
0.2 miles
Demographics for 25428, WV
12,749
Population
5,399
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
92%
High-School Grad
22.0 sq mi
ZIP Area
580
Density / Sq Mi
$80,329
Median Household Income
$43,171
Median Earnings
$1,378
Median Rent
$233,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - For-sale 10.53-acre car wash site with access from Gerrardstown Road and Pilgrim Street.
Where is this self service car wash located?
The property is located at 4803 Gerrardstown Rd Inwood, WV.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 10.53‑acre commercial property improved as a car wash site; Access from both Gerrardstown Road and Pilgrim Street; Located within an established retail and shopping center corridor
