Established Car Wash Business
For Sale
Contact for pricing
6701 W 28th St, Hialeah, FL 33016
Well-established Hialeah car wash with loyal customer base for sale.
Property Size5,000 SF
Price / SF$300
Days on Market187
Property Features for 6701 W 28th St
General Information
Standard status
Active
Size
5,000 SF
Class
C
Property subtype
Business for Sale
Lease Type
Net
Investment Type
Stabilized
Net Operating Income
$380,000
Building Details
Tenancy
Single
Listing Agency:
The Barcelo Group Coldwell Banker Realty
Listed By:
Julian Barcelo · License #3515810
Source:
Crexi
Added: Feb 24
Changed: Aug 27
Last Checked: Aug 29 at 9:08PM
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 The Barcelo Group Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Magic Hands Car Wash presents a rare acquisition opportunity. This established business has operated for over 20 years at the same location in Hialeah, building a loyal customer base and a reputation for quality service. The business benefits from a high-visibility location with consistent traffic. The majority of revenue is driven by repeat customers and word-of-mouth referrals. The property has a long-term lease in place with 3% annual increases, expiring in 2030, with an extension already in place. The car wash is a turnkey operation with experienced staff. Opportunities exist to increase revenue through expanded services, memberships, detailing packages, and social media presence. This is an opportunity for an owner-operator looking to acquire a cash-flowing business or for an investor seeking to scale and modernize a proven operation. The property size is 5000 square feet.
Key Highlights
- Well‑established car wash with 20+ years at the same location
- Strong, loyal customer base and repeat clientele ensures consistent revenue
- High‑visibility location with consistent daily traffic
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
$100,440
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
6.70%
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%
$2,008,800
$2.0M
Cap Rate 7%
$1,434,857
$1.4M
Cap Rate 9%
$1,116,000
$1.1M
Market Conditions
NOI Build-Up for 5,000 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
$144.0K $28.80/SF
− Vacancy
−$10.1K −$2.02/SF
EGI
$133.9K $26.78/SF
− OpEx
−$33.5K −$6.70/SF
NOI
$100.4K $20.09/SF
Area
Hialeah, FL
Vacancy
7.00%
Lease Rate
$28.80 /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%
$2,008,800
Cap Rate 7%
$1,434,857
Cap Rate 9%
$1,116,000
Alternative Uses
Best Use
Specialty Retail
$1.43M
$1.26M – $1.67M
NOI $100,440 @ 7.0% cap · market cap 6.70%
Second Best
Retail
$1.24M
$1.09M – $1.45M
NOI $86,940 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,760 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,341
Businesses Nearby
62k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 53%
Shops & Services 36%
Dining 10%
Home Improvements & Furnishings 1%
Presidente Supermarkets
Groceries
33,022 visits/mo
0.5 miles
Marathon Petroleum
Shops & Services
16,122 visits/mo
0.5 miles
Taco Bell
Dining
6,267 visits/mo
0.2 miles
Ace Cash Express
Shops & Services
2,596 visits/mo
0.3 miles
Extra Space Storage
Shops & Services
1,968 visits/mo
0.3 miles
Demographics for 33016, FL
45,714
Population
16,158
Households
2.8
Avg Household Size
43
Median Age
28%
College-Educated
83%
High-School Grad
4.2 sq mi
ZIP Area
10,884
Density / Sq Mi
$56,633
Median Household Income
$33,069
Median Earnings
$1,753
Median Rent
$295,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Well-established Hialeah car wash with loyal customer base for sale.
Where is this car wash located?
The property is located at 6701 W 28th St Hialeah, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Well‑established car wash with 20+ years at the same location; Strong, loyal customer base and repeat clientele ensures consistent revenue; High‑visibility location with consistent daily traffic
