Express Car Wash with
6245 E 7 Mile Road, Detroit, MI 48234
For Sale
New
$799,000
The offering combines the operating wash business and real estate, with a recently added SiteWatch system.
Property Size2,094 SF
Price / SF$381.57
Days on Market4
Property Features for 6245 E 7 Mile Road
General Information
Standard status
Size
Property subtype
Zoning
Net Operating Income
Financials
Asking Price
Business Included
Site & Location
Neighborhood
Automotive
Automotive Uses
Car Wash Format
Tenancy & Operations
Currently Operating
Real Estate Included
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
ICON Realty Experts, LLC
Listed By:
Joseph Jazrwy
(586) 243-1641
Source:
Homeflexrealty
Added: Nov 10
Changed: Nov 13
Last Checked: Nov 13 at 2:06PM
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 ICON Realty Experts, LLC
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Investment Insights
Based on property information with market context.
This express car wash offering includes both the operating business and the real estate. The 2,094-square-foot property was built in 1955 and has undergone comprehensive renovations. A recently installed SiteWatch system is part of the current operation, and new backup equipment is included in the sale.
Located at 6245 E 7 Mile Road in Detroit, the property is zoned Commercial.
Located at 6245 E 7 Mile Road in Detroit, the property is zoned Commercial.
Key Highlights
- 2,094‑square‑foot car wash property
- Business and real estate offered together
- Recently installed SiteWatch system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,634
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,680
$552.7K
Cap Rate 7%
$394,771
$394.8K
Cap Rate 9%
$307,044
$307.0K
Market Conditions
NOI Build-Up for 2,094 SF
Gross rent
$38.9K $18.60/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$36.8K $17.60/SF
− OpEx
−$9.2K −$4.40/SF
NOI
$27.6K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,680
Cap Rate 7%
$394,771
Cap Rate 9%
$307,044
Alternative Uses
Best Use
Specialty Retail
$394.8K
$345.4K – $460.6K
NOI $27,634 @ 7.0% cap · market cap 3.46%
Second Best
Retail
$368.5K
$322.4K – $429.9K
NOI $25,792 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$461.9K
$404.2K – $538.9K
NOI $32,336 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
Citgo
Shops & Services
6,701 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
3,612 visits/mo
0.4 miles
Demographics for 48234, MI
31,442
Population
15,688
Households
2
Avg Household Size
36
Median Age
11%
College-Educated
84%
High-School Grad
7.8 sq mi
ZIP Area
4,031
Density / Sq Mi
$36,473
Median Household Income
$31,587
Median Earnings
$965
Median Rent
$57,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Car washes in Wayne County, MI
Properties on Market for Car washes in Wayne County
Vacancy Rate% for Retail in Detroit, MI
Frequently Asked Questions
What type of property is this?
Car wash - The offering combines the operating wash business and real estate, with a recently added SiteWatch system.
Where is this car wash located?
The property is located at 6245 E 7 Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,094‑square‑foot car wash property; Business and real estate offered together; Recently installed SiteWatch system
