Turn-Key Full-Service Car
For Sale
Contact for pricing
5865 US Hwy 6, Portage, IN 46368
Full-service facility with recently updated equipment and strong US Highway 6 frontage for high-visibility customer access.
Property Size6,026 SF
Price / SF$232.33
Days on Market62
Property Features for 5865 US Hwy 6
General Information
Standard status
Active
Size
6,026 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Traffic Count
21,000 vehicles/day
Building Details
Year Built
1985
Listing Agency:
CENTURY 21 Alliance Group
(219) 462-2090
Listed By:
Nick Sommer · License #IN
Source:
Crexi
Added: Jun 9
Changed: Aug 8
Last Checked: Jul 21 at 5:30AM
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 CENTURY 21 Alliance Group
Investment Insights
Based on property information with market context.
This turn-key full-service car wash is available for sale in Portage, Indiana. The facility includes recently updated car-wash equipment and operates as a complete, ready-to-run business. An established loyalty program is in place, supporting customer retention and repeat visits.
The property offers excellent frontage along US Highway 6. Public remarks indicate traffic counts in excess of 21,000 vehicles per day, creating substantial visibility and convenient customer access from the corridor. The site is positioned near major national retailers and restaurants, including Aldi, Meijer, Target, Walmart, Menards, Panera Bread, Starbucks, and McDonald's.
For buyers seeking an automotive-focused, operational car wash, this offering provides a fully equipped setup with the noted loyalty program and direct exposure to one of Northwest Indiana’s key growth areas. Detailed financials and operating data are available upon execution of a confidentiality agreement, and tours can be scheduled by request.
The property offers excellent frontage along US Highway 6. Public remarks indicate traffic counts in excess of 21,000 vehicles per day, creating substantial visibility and convenient customer access from the corridor. The site is positioned near major national retailers and restaurants, including Aldi, Meijer, Target, Walmart, Menards, Panera Bread, Starbucks, and McDonald's.
For buyers seeking an automotive-focused, operational car wash, this offering provides a fully equipped setup with the noted loyalty program and direct exposure to one of Northwest Indiana’s key growth areas. Detailed financials and operating data are available upon execution of a confidentiality agreement, and tours can be scheduled by request.
Key Highlights
- Full‑service carwash built in 1985 in Portage, Indiana
- Recently updated equipment at the carwash facility
- Established loyalty program in place
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
$117,756
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
8.41%
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%
$2,355,120
$2.4M
Cap Rate 7%
$1,682,229
$1.7M
Cap Rate 9%
$1,308,400
$1.3M
Market Conditions
NOI Build-Up for 6,026 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
$162.7K $27.00/SF
− Vacancy
−$5.7K −$0.95/SF
EGI
$157.0K $26.06/SF
− OpEx
−$39.3K −$6.51/SF
NOI
$117.8K $19.54/SF
Area
Porter County, IN
Vacancy
3.50%
Lease Rate
$27.00 /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%
$2,355,120
Cap Rate 7%
$1,682,229
Cap Rate 9%
$1,308,400
Alternative Uses
Best Use
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,756 @ 7.0% cap · market cap 8.41%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,862 @ 7.0% cap · market cap 6.06%
Theoretical Best
Healthcare Medical
$2.28M
$2.00M – $2.66M
NOI $159,873 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
514k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Superstores 26%
Groceries 22%
Shops & Services 17%
Walmart
Superstores
117,012 visits/mo
0.4 miles
Meijer
Groceries
82,897 visits/mo
0.2 miles
Dollar Tree
Shops & Services
30,386 visits/mo
0.3 miles
Aldi
Groceries
28,778 visits/mo
0.4 miles
Texas Roadhouse
Dining
23,230 visits/mo
0.4 miles
Demographics for 46368, IN
39,837
Population
16,870
Households
2.4
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
1,575
Density / Sq Mi
$72,638
Median Household Income
$42,508
Median Earnings
$1,140
Median Rent
$213,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Full-service facility with recently updated equipment and strong US Highway 6 frontage for high-visibility customer access.
Where is this car wash located?
The property is located at 5865 US Hwy 6 Portage, IN.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Full‑service carwash built in 1985 in Portage, Indiana; Recently updated equipment at the carwash facility; Established loyalty program in place
