Car Wash with Adjacent Vacant
For Sale
$565,000
591 Lester Ave, Onalaska, WI 54650
For sale: fully functioning car wash plus an adjacent vacant commercial lot with its own parcel number.
Property Size2,900 SF
Price / SF$194.83
Days on Market579
Property Features for 591 Lester Ave
General Information
Standard status
Active
Size
2,900 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,974
Listing Agency:
eXp Realty LLC
(866) 848-6990
Listed By:
Spenser Nickelatti · License #8335794
(608) 498-1323
Source:
Exprealty
Added: Feb 5, 2025
Changed: Sep 6
Last Checked: Sep 6 at 2:03PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This offering includes a fully functioning car wash and an adjacent vacant commercial lot. The car wash is being sold as an operating property, with the vacant lot presented as a separate holding opportunity. The vacant lot has its own parcel number and address, allowing for independent consideration from the car wash site.
The property is located at 591 Lester Ave in Onalaska, Wisconsin. According to the seller, the vacant lot sits next to the car wash, providing flexibility for future disposition strategies while keeping the car wash available as part of the primary use.
For buyers looking to acquire an automotive service facility and control additional land in the same assemblage, the combination can support multiple approaches. The seller has indicated openness to seller financing, which may be a relevant term for qualified buyers evaluating acquisition options. This is a practical choice for an operator or investor seeking to purchase a working car wash and pair it with an adjacent vacant commercial parcel.
The property is located at 591 Lester Ave in Onalaska, Wisconsin. According to the seller, the vacant lot sits next to the car wash, providing flexibility for future disposition strategies while keeping the car wash available as part of the primary use.
For buyers looking to acquire an automotive service facility and control additional land in the same assemblage, the combination can support multiple approaches. The seller has indicated openness to seller financing, which may be a relevant term for qualified buyers evaluating acquisition options. This is a practical choice for an operator or investor seeking to purchase a working car wash and pair it with an adjacent vacant commercial parcel.
Key Highlights
- Fully functioning Valley View Car Wash built in 1990
- For sale includes an adjacent vacant commercial lot next to the car wash
- Vacant lot has its own parcel number and address
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
$44,396
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
7.86%
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%
$887,920
$887.9K
Cap Rate 7%
$634,229
$634.2K
Cap Rate 9%
$493,289
$493.3K
Market Conditions
NOI Build-Up for 2,900 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
$62.6K $21.60/SF
− Vacancy
−$3.4K −$1.19/SF
EGI
$59.2K $20.41/SF
− OpEx
−$14.8K −$5.10/SF
NOI
$44.4K $15.31/SF
Area
La Crosse County, WI
Vacancy
5.50%
Lease Rate
$21.60 /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%
$887,920
Cap Rate 7%
$634,229
Cap Rate 9%
$493,289
Alternative Uses
Best Use
Specialty Retail
$634.2K
$555.0K – $739.9K
NOI $44,396 @ 7.0% cap · market cap 7.86%
Second Best
Retail
$416.7K
$364.6K – $486.2K
NOI $29,171 @ 7.0% cap · market cap 5.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
470k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 25%
Apparel 23%
Groceries 12%
Kwik Trip
Shops & Services
74,206 visits/mo
0.4 miles
Hy-Vee
Groceries
57,288 visits/mo
0.2 miles
DICK'S Sporting Goods
Apparel
53,739 visits/mo
0.3 miles
Chick-fil-A
Dining
50,769 visits/mo
0.5 miles
Texas Roadhouse
Dining
42,650 visits/mo
0.2 miles
Demographics for 54650, WI
24,523
Population
11,166
Households
2.2
Avg Household Size
41
Median Age
40%
College-Educated
98%
High-School Grad
30.9 sq mi
ZIP Area
794
Density / Sq Mi
$85,255
Median Household Income
$48,366
Median Earnings
$1,109
Median Rent
$279,100
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?
Self service car wash - For sale: fully functioning car wash plus an adjacent vacant commercial lot with its own parcel number.
Where is this self service car wash located?
The property is located at 591 Lester Ave Onalaska, WI.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Fully functioning Valley View Car Wash built in 1990; For sale includes an adjacent vacant commercial lot next to the car wash; Vacant lot has its own parcel number and address
