Dual-Format Conveyor Car
For Sale
Contact for pricing
5403 Northfield Road, Cleveland, OH 44146
Automated wash facility offering customers a choice between soft-cloth and no-touch service.
Property Size4,800 SF
Price / SF$312.50
Days on Market13
Property Features for 5403 Northfield Road
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Special Purpose
Occupancy
100%
Investment Type
Owner/User
Additional Details
Car Wash Bays
1
Amenities
dual-format conveyor tunnel
Building Details
Year Built
1962
Year Renovated
2020
Tenancy
Single
Listing Agency:
ParaSell Inc
(949) 942-6585
Listed By:
Scott Reid · License #EC.100085004
Source:
Crexi
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 12:10PM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
The property is an automotive wash facility measuring 4,800 square feet and built in 1962. Its primary improvement is a brand-new conveyor tunnel configured for two wash formats, allowing customers to select either soft cloth or no-touch service at the point of sale.
The dual-format equipment provides two distinct service options within one automated wash operation. The property is located at 5403 Northfield Road, Ohio 44146.
The dual-format equipment provides two distinct service options within one automated wash operation. The property is located at 5403 Northfield Road, Ohio 44146.
Key Highlights
- 4,800 SF car wash facility built in 1962
- Brand‑new dual‑format conveyor tunnel
- Customers can select soft cloth or no‑touch washing at point of sale
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
$60,264
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
4.02%
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%
$1,205,280
$1.2M
Cap Rate 7%
$860,914
$860.9K
Cap Rate 9%
$669,600
$669.6K
Market Conditions
NOI Build-Up for 4,800 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
$86.4K $18.00/SF
− Vacancy
−$6.0K −$1.26/SF
EGI
$80.4K $16.74/SF
− OpEx
−$20.1K −$4.19/SF
NOI
$60.3K $12.56/SF
Area
Cleveland, OH
Vacancy
7.00%
Lease Rate
$18.00 /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%
$1,205,280
Cap Rate 7%
$860,914
Cap Rate 9%
$669,600
Alternative Uses
Best Use
Specialty Retail
$860.9K
$753.3K – $1.00M
NOI $60,264 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$658.8K
$576.5K – $768.6K
NOI $46,116 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,995 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Explore this area
Business Placement
Demographics for 44146, OH
29,778
Population
15,270
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
20.0 sq mi
ZIP Area
1,489
Density / Sq Mi
$53,049
Median Household Income
$40,808
Median Earnings
$1,000
Median Rent
$141,800
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Automated wash facility offering customers a choice between soft-cloth and no-touch service.
Where is this car wash located?
The property is located at 5403 Northfield Road Cleveland, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,800 SF car wash facility built in 1962; Brand‑new dual‑format conveyor tunnel; Customers can select soft cloth or no‑touch washing at point of sale
