Self-Service Car Wash with Touchless
For Sale
$399,900
5946 Commerce Center Drive, Muskegon, MI 49444
Operational facility with in-floor heating, vacuum stations, and coin-operated equipment.
Property Size3,186 SF
Days on Market8
Property Features for 5946 Commerce Center Drive
General Information
Standard status
Active
Size
3,186 SF
Property subtype
Commercial
Zoning
PUD
Taxes and HOA fees
Annual Taxes
$6,116
Building Details
Building Size
3,186 SF
Year Built
2003
Buildings
1
Stories
1
Units
5
Listing Agency:
Nexes Realty Muskegon
(231) 578-0556
Listed By:
Brock Edward Carlston · License #6501370180
(231) 578-0556
Source:
Irishhillsfivestarhomes
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 11:12PM
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 Nexes Realty Muskegon
Investment Insights
Based on property information with market context.
This 2003 commercial building operates as a self-service car wash with one touchless auto-wash unit, four wash bays, four vacuum stations, and two coin machines. An in-floor heating system supports year-round operation and snow melt, while a paper-system backup provides an additional operating safeguard.
The property is located at 5946 Commerce Center Drive in Muskegon, Michigan, and carries PUD zoning. Its configuration combines automated washing, self-service bays, vacuum service, and coin-operated equipment within one established facility.
The property is located at 5946 Commerce Center Drive in Muskegon, Michigan, and carries PUD zoning. Its configuration combines automated washing, self-service bays, vacuum service, and coin-operated equipment within one established facility.
Key Highlights
- One touchless auto‑wash unit with 4 self‑service wash bays
- 4 vacuum stations and 2 coin machines
- In‑floor heating system supports year‑round operation and snow melt
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
$35,436
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
8.86%
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%
$708,720
$708.7K
Cap Rate 7%
$506,229
$506.2K
Cap Rate 9%
$393,733
$393.7K
Market Conditions
NOI Build-Up for 3,186 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
$49.3K $15.48/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$47.2K $14.83/SF
− OpEx
−$11.8K −$3.71/SF
NOI
$35.4K $11.12/SF
Area
Muskegon County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$708,720
Cap Rate 7%
$506,229
Cap Rate 9%
$393,733
Alternative Uses
Best Use
Retail
$588.4K
$514.8K – $686.4K
NOI $41,185 @ 7.0% cap · market cap 10.30%
Second Best
Specialty Retail
$506.2K
$443.0K – $590.6K
NOI $35,436 @ 7.0% cap · market cap 8.86%
Theoretical Best
Hotel Hospitality
$29.92M
$26.18M – $34.91M
NOI $2,094,388 @ 7.0% cap · market cap 523.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
215k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 53%
Dining 26%
Home Improvements & Furnishings 9%
Shops & Services 9%
Kohl's
Apparel
55,213 visits/mo
0.5 miles
DICK'S Sporting Goods
Apparel
35,406 visits/mo
0.4 miles
Buffalo Wild Wings
Dining
27,632 visits/mo
0.4 miles
JCPenney
Apparel
24,142 visits/mo
0.3 miles
Family Farm & Home
Home Improvements & Furnishings
19,064 visits/mo
0.5 miles
Demographics for 49444, MI
26,281
Population
11,635
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
91%
High-School Grad
24.7 sq mi
ZIP Area
1,064
Density / Sq Mi
$52,143
Median Household Income
$34,423
Median Earnings
$941
Median Rent
$159,200
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 - Operational facility with in-floor heating, vacuum stations, and coin-operated equipment.
Where is this self service car wash located?
The property is located at 5946 Commerce Center Drive Muskegon, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: One touchless auto‑wash unit with 4 self‑service wash bays; 4 vacuum stations and 2 coin machines; In‑floor heating system supports year‑round operation and snow melt
