Downtown Wooster Car
For Sale
Contact for pricing
611 W Liberty St, Wooster, OH 44691
Five-bay car wash on a corner lot in downtown Wooster.
Property Size2,834 SF
Price / SF$114.68
Days on Market710
Property Features for 611 W Liberty St
General Information
Standard status
Active
Size
2,834 SF
Property subtype
Retail, Special Purpose
Building Details
Year Built
1995
Year Renovated
1999
Buildings
1
Stories
1
Listing Agency:
Donald K. Gant Realty
Listed By:
Trevor Gant · License #2023003563
(330) 264-4242
Source:
Crexi
Added: Oct 4, 2024
Changed: Sep 8
Last Checked: Sep 13 at 5:24AM
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 Donald K. Gant Realty
Investment Insights
Based on property information with market context.
This property features a five-bay car wash situated on a corner lot within downtown Wooster. The property is zoned C-2 Community Commercial. The car wash includes two automatic bays and three self-service bays. The property size is 2,834 square feet. A Retail Site Analysis report is available.
Key Highlights
- 5 bay car wash
- Located on a corner lot
- Downtown Wooster location
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
$28,507
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
8.77%
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%
$570,140
$570.1K
Cap Rate 7%
$407,243
$407.2K
Cap Rate 9%
$316,744
$316.7K
Market Conditions
NOI Build-Up for 2,834 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
$42.5K $15.00/SF
− Vacancy
−$1.8K −$0.63/SF
EGI
$40.7K $14.37/SF
− OpEx
−$12.2K −$4.31/SF
NOI
$28.5K $10.06/SF
Area
Wayne County, OH
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$570,140
Cap Rate 7%
$407,243
Cap Rate 9%
$316,744
Alternative Uses
Best Use
Retail
$407.2K
$356.3K – $475.1K
NOI $28,507 @ 7.0% cap · market cap 8.77%
Second Best
Specialty Retail
$172.2K
$150.6K – $200.9K
NOI $12,051 @ 7.0% cap · market cap 3.71%
Theoretical Best
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $144,992 @ 7.0% cap · market cap 44.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 44691, OH
44,666
Population
19,369
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
93%
High-School Grad
154.9 sq mi
ZIP Area
288
Density / Sq Mi
$71,319
Median Household Income
$37,322
Median Earnings
$881
Median Rent
$216,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Five-bay car wash on a corner lot in downtown Wooster.
Where is this car wash located?
The property is located at 611 W Liberty St Wooster, OH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 5 bay car wash; Located on a corner lot; Downtown Wooster location
