Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Troy Car Wash For Sale Title is generated by Realmo AI

    690-696 River Street, Troy, NY 12180

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Car wash with updated equipment and additional income potential.

    Type:Land
    Added:
    Sep 11, 2023
    Days on Market:
    984
    Last Refresh:
    May 12 at 9:50 pm

    Property Features for 690-696 River Street

    General Information

    Standard status
    Active
    Property subtype
    Land

    Building Details

    Year Built
    1954

    We can help!

    Listing Contact
    Joseph Cardinale

    Listing agent Joseph Cardinale

    Listing office HOWARD HANNA CAPITAL INC

    Listing date Sep 11, 2023

    Source Crexi

    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 HOWARD HANNA CAPITAL INC

    HighLights

    • High CAP Rate: Approximately 8.1% with potential for 10%+
    • New Car Wash Equipment: Installed in 2020
    • Top‑of‑the‑line Balanger & Sonny's Tunnel System with Innovation Control System (2020)
    • Additional income from leased 3‑bay service garage & office area
    • Strategic location to benefit from Troy revitalization and growth potential
    • High traffic abutting street (AADT 11372 & AADT 5289)

    Overview

    This car wash property features equipment that was replaced in 2020. The property is positioned to benefit from the revitalization of Troy, offering significant growth potential. It includes radiant heating on the tunnel entrance and exit pads, as well as self-serve floors with 10' runouts. The car wash is equipped with a complete Balanger & Sonny's Tunnel System with Innovation Control System (2020) and a Sonny's Banana Peel 120' Conveyor System with Hydraulic Pump Drive (2020). Additionally, there is a Carolina Pride Express 4 Bay Self Serves system complete (2020). The property also includes a 3-bay service garage and office area, which is currently leased for additional income. Abutting Street AADT is 11372 & AADT is 5289.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Albany
    State
    New York
    Longitude
    -73.6835368
    Latitude
    42.745581

    Nearby Similar for Sale

    • $599,000
      6,381 SF

      Established Restaurant with Development Potential

      Turnkey restaurant with mixed-use zoning and expansion possibilities.
      572 2nd Avenue, Troy, NY 12182
      View Details
    • $500,000
      15,000 SF

      Mixed-Use Building with Established Businesses

      Three-story mixed-use building with two established businesses included.
      867-869 River Street, Troy, NY 12180
      View Details
    • $695,000
      7,161 SF

      Established Restaurant with Parking Lot

      Turnkey restaurant opportunity with equipment, fixtures, and additional parking.
      853 4th Avenue, Troy, NY 12182
      View Details
    • $395,000
      2,690 SF

      Spacious Two-Family Brick Home

      Classic two-family home with hardwood floors and high ceilings.
      303 Spring Avenue, Troy, NY 12180
      View Details
    • $1,500,000
      1,636 SF

      Troy Car Wash For Sale

      Updated car wash with growth potential in revitalizing Troy, NY.
      690-696 River Street, Troy, NY 12180
      View Details
    • $499,000
      2,836 SF

      Troy, NY Multi-Family Property

      Three-unit property near campus with income potential and parking.
      65 13th Street, Troy, NY 12180
      View Details
    • $340,000
      2,919 SF

      Troy Brick Multi-Unit Property

      Well-maintained 3-unit property near downtown Troy and RPI.
      151 Jackson Street, Troy, NY 12180
      View Details
    • $1,500,000

      Troy Car Wash For Sale

      Revitalized car wash with high-end equipment and income potential.
      690-696 River Street, Troy, NY 12180
      View Details
    • $2,400,000
      7,885 SF

      Meticulously Maintained Apartment Building

      Rare opportunity: 12-unit apartment building with steady income.
      462-470 2nd Avenue, Troy, NY 12182
      View Details
    • $334,900
      2,688 SF

      Remodeled Two-Family Home in Troy

      Rejuvenated two-family home with modern amenities and investment potential.
      169 Hoosick Street, Troy, NY 12180
      View Details
    • $294,900
      3,179 SF

      Spacious Multi-Unit Investment Opportunity

      Charming, updated multi-family property with bonus space and long-term tenants.
      1 Sheldon Avenue, Troy, NY 12180
      View Details
    • $369,000

      Downtown Troy High Visibility Location

      High-visibility commercial property in downtown Troy with recent improvements.
      58-62 King Street, Troy, NY 12180
      View Details

    FAQs

    What type of property is this?
    Car wash - Car wash with updated equipment and additional income potential.
    Where is this car wash located?
    The property is located at 690-696 River Street Troy, NY.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: High CAP Rate: Approximately 8.1% with potential for 10%+; New Car Wash Equipment: Installed in 2020; Top‑of‑the‑line Balanger & Sonny's Tunnel System with Innovation Control System (2020)
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joseph Cardinale
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    690-696 River Street, Troy, NY 12180
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!