Four-Bay Self-Service Car
For Sale
$300,000
636 Southfield Rd, Lincoln Park, MI 48146
Sale includes the operating business, real estate, and equipment supporting an established automotive use.
Property Size984 SF
Price / SF$304.88
Days on Market39
Property Features for 636 Southfield Rd
General Information
Standard status
Active
Size
984 SF
Taxes and HOA fees
Annual Taxes
$2,939
Listing Agency:
EXP Realty Main
(313) 600-6189
Listed By:
Fadi Dabaja · License #6506045188
(313) 600-6189
Source:
Exprealty
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 29 at 12:07PM
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 Main
Investment Insights
Based on property information with market context.
This self-service car wash includes the operating business, real estate, and wash equipment. The approximately 984-square-foot block-and-brick building contains four self-service bays and a mechanical room with high-pressure pumps, chemical dispensing systems, commercial water-heating components, boiler equipment, circulation equipment, and related controls. Equipment age, condition, and remaining service life should be independently verified.
The property is located at 636 Southfield Rd near Fort Street in Lincoln Park, with approximately 55 feet of frontage along a commercial corridor. Paved access, on-site parking, alley access, exterior lighting, and security cameras support the site’s daily operation. Public water and sewer serve the property. The established automotive use and included operating systems provide a complete physical and business platform for continued self-service car wash operations.
The property is located at 636 Southfield Rd near Fort Street in Lincoln Park, with approximately 55 feet of frontage along a commercial corridor. Paved access, on-site parking, alley access, exterior lighting, and security cameras support the site’s daily operation. Public water and sewer serve the property. The established automotive use and included operating systems provide a complete physical and business platform for continued self-service car wash operations.
Key Highlights
- Four self‑service wash bays in an approximately 984‑square‑foot block‑and‑brick building
- Approximately 55 feet of frontage on Southfield Rd near Fort Street
- Business, real estate, and operating equipment included
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
$12,753
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
4.25%
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%
$255,060
$255.1K
Cap Rate 7%
$182,186
$182.2K
Cap Rate 9%
$141,700
$141.7K
Market Conditions
NOI Build-Up for 984 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
$17.7K $18.00/SF
− Vacancy
−$708 −$0.72/SF
EGI
$17.0K $17.28/SF
− OpEx
−$4.3K −$4.32/SF
NOI
$12.8K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /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%
$255,060
Cap Rate 7%
$182,186
Cap Rate 9%
$141,700
Alternative Uses
Best Use
Specialty Retail
$182.2K
$159.4K – $212.6K
NOI $12,753 @ 7.0% cap · market cap 4.25%
Second Best
Retail
$133.2K
$116.6K – $155.4K
NOI $9,324 @ 7.0% cap · market cap 3.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 43%
Electronics 2%
7-Eleven
Shops & Services
14,331 visits/mo
0.4 miles
Little Caesars Pizza
Dining
11,489 visits/mo
0.3 miles
BP
Shops & Services
6,391 visits/mo
0.0 miles
KFC
Dining
4,445 visits/mo
0.2 miles
Metro by T-Mobile
Electronics
666 visits/mo
0.1 miles
Demographics for 48146, MI
40,245
Population
15,874
Households
2.5
Avg Household Size
37
Median Age
11%
College-Educated
81%
High-School Grad
5.8 sq mi
ZIP Area
6,939
Density / Sq Mi
$57,183
Median Household Income
$36,886
Median Earnings
$972
Median Rent
$117,400
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 - Sale includes the operating business, real estate, and equipment supporting an established automotive use.
Where is this self service car wash located?
The property is located at 636 Southfield Rd Lincoln Park, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Four self‑service wash bays in an approximately 984‑square‑foot block‑and‑brick building; Approximately 55 feet of frontage on Southfield Rd near Fort Street; Business, real estate, and operating equipment included
