Operating Car Wash with
For Sale
Contact for pricing
511 W Main St, Laurel, MT 59044
Established car wash with heated warehouse on six city lots.
Property Size9,804 SF
Lot Size0.55 Acres
Price / SF$244.80
Days on Market148
Property Features for 511 W Main St
General Information
Standard status
Active
Size
9,804 SF
Lot size
0.55 Acres
Property subtype
Special Purpose
Zoning
Central Business District
Building Details
Year Built
1977
Buildings
2
Stories
1
Units
2
Listing Agency:
A Haus of Realty, Inc
(406) 855-9528
Listed By:
Daniel Klein · License #14023
Source:
Crexi
Added: Mar 26
Changed: Aug 8
Last Checked: Aug 19 at 3:06PM
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 A Haus of Realty, Inc
Investment Insights
Based on property information with market context.
This property features an established, operating car wash along with a large, heated warehouse/shop. The warehouse/shop, approximately 5400 square feet, has varied potential uses or may be leased out for additional income. It had formerly been used for retail purposes. The property is situated on 6 city lots totaling over 24,000 square feet of land. Newer equipment and systems are in place, including electronic payment processing on all 3 bays. The car wash includes 1 touchless automatic bay and 2 manual bays, along with 2 vacuums and a cleaning product vending machine. The property benefits from an excellent, high-visibility location. The car wash and warehouse offer potential business opportunities.
Key Highlights
- Excellent high visibility location
- Established operating car wash with newer equipment and systems, including electronic payment processing
- Large (appx 5400 Sq. Ft.) heated warehouse/shop with varied potential uses or lease income
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
$143,670
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
5.99%
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%
$2,873,400
$2.9M
Cap Rate 7%
$2,052,429
$2.1M
Cap Rate 9%
$1,596,333
$1.6M
Market Conditions
NOI Build-Up for 9,804 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
$196.5K $20.04/SF
− Vacancy
−$4.9K −$0.50/SF
EGI
$191.6K $19.54/SF
− OpEx
−$47.9K −$4.88/SF
NOI
$143.7K $14.65/SF
Area
Yellowstone County, MT
Vacancy
2.50%
Lease Rate
$20.04 /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%
$2,873,400
Cap Rate 7%
$2,052,429
Cap Rate 9%
$1,596,333
Alternative Uses
Best Use
Specialty Retail
$2.05M
$1.80M – $2.39M
NOI $143,670 @ 7.0% cap · market cap 5.99%
Second Best
Retail
$1.34M
$1.17M – $1.56M
NOI $93,883 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $149,084 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 59044, MT
12,099
Population
5,247
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
95%
High-School Grad
175.1 sq mi
ZIP Area
69
Density / Sq Mi
$86,011
Median Household Income
$40,535
Median Earnings
$983
Median Rent
$317,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Established car wash with heated warehouse on six city lots.
Where is this car wash located?
The property is located at 511 W Main St Laurel, MT.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Excellent high visibility location; Established operating car wash with newer equipment and systems, including electronic payment processing; Large (appx 5400 Sq. Ft.) heated warehouse/shop with varied potential uses or lease income
