Building Details

Year Built 2003

Listing Agency: Greenridge - Nexes

Listed By: Brock Edward Carlston · License #6501370180 Show Phone

Source: Katie-k

Added: Sep 5 Changed: Oct 7 Last Checked: Oct 7 at 3:34PM

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Investment Insights

Based on property information with market context.

This 3,186-square-foot self-service car wash was built in 2003 and includes one touchless wash, four customer 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 option when the primary systems are down.

The property is located at 5946 Commerce Center Dr in Muskegon, Michigan. Durable construction and a low-maintenance design are also noted for the facility.

Key Highlights

• 3,186‑square‑foot self‑service car wash built in 2003
• One touchless auto wash and 4 spacious wash bays
• 4 vacuum stations and 2 coin machines

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,436

Cap Rate

8.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$708,720 $708.7K

Cap Rate 7%

$506,229 $506.2K

Cap Rate 9%

$393,733 $393.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,186 SF

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 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 (±1% cap)

NOI $41,185 @ 7.0% cap · market cap 10.30%

Second Best

Specialty Retail

$506.2K

$443.0K – $590.6K (±1% cap)

NOI $35,436 @ 7.0% cap · market cap 8.86%

Theoretical Best

Hotel Hospitality

$29.92M

$26.18M – $34.91M (±1% cap)

NOI $2,094,388 @ 7.0% cap · market cap 523.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Self service car ...

Suggested Use

Top Pick Parking Lot & Garage Law Firm Grocery & Convenience Store Electrical Service Home Appliance Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Self service car wash - Turnkey automotive facility with touchless washing, vacuum stations, and coin-operated equipment.

Where is this self service car wash located?

The property is located at 5946 Commerce Center Dr 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: 3,186‑square‑foot self‑service car wash built in 2003; One touchless auto wash and 4 spacious wash bays; 4 vacuum stations and 2 coin machines