Car Wash with Multiple Service
For Sale
$1,650,000
6980 Tussing Road, Reynoldsburg, OH 43068
Established wash operation with self-service, touchless, and soft-touch equipment, plus a separate dryer and vacuum area.
Property Size4,736 SF
Days on Market47
Property Features for 6980 Tussing Road
General Information
Standard status
Active
Size
4,736 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Car Wash Bays
4
Taxes and HOA fees
Annual Taxes
$12,492
Building Details
Building Size
4,736 SF
Year Built
2007
Listing Agency:
Howard HannaRealEstateServices
(740) 687-1516
Listed By:
Jennifer D. Eyman · License #2014000954
(740) 503-9022
Source:
Carolgoffrealestate
Added: Jul 24
Changed: Sep 8
Last Checked: Sep 7 at 12:27PM
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 HannaRealEstateServices
Investment Insights
Based on property information with market context.
The property is an operating car wash at 6980 Tussing Rd in Reynoldsburg, Ohio. Its configuration includes four self-service bays, with one accommodating RVs and trucks, along with two automatic touchless bays and new Oasis soft-touch equipment. A detached dryer and 8 vacuums are also included. The equipment is reported to be in good working condition and conveys with the property.
The car wash has operated since 2007, and the current seller has managed it for 5 years. A sizable open area is positioned behind the wash and may support a future use such as public storage, subject to buyer due diligence. The combination of established operations, varied wash formats, and additional rear-area space provides a practical platform for continued car wash use and evaluation of supplemental income uses.
The car wash has operated since 2007, and the current seller has managed it for 5 years. A sizable open area is positioned behind the wash and may support a future use such as public storage, subject to buyer due diligence. The combination of established operations, varied wash formats, and additional rear-area space provides a practical platform for continued car wash use and evaluation of supplemental income uses.
Key Highlights
- Four self‑service bays, including 1 RV/Truck Bay
- Two automatic touchless bays with new Oasis soft‑touch equipment
- Detached dryer and 8 vacuums 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
$67,587
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
4.10%
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%
$1,351,740
$1.4M
Cap Rate 7%
$965,529
$965.5K
Cap Rate 9%
$750,967
$751.0K
Market Conditions
NOI Build-Up for 4,736 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
$92.6K $19.56/SF
− Vacancy
−$2.5K −$0.53/SF
EGI
$90.1K $19.03/SF
− OpEx
−$22.5K −$4.76/SF
NOI
$67.6K $14.27/SF
Area
Franklin County, OH
Vacancy
2.72%
Lease Rate
$19.56 /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%
$1,351,740
Cap Rate 7%
$965,529
Cap Rate 9%
$750,967
Alternative Uses
Best Use
Specialty Retail
$965.5K
$844.8K – $1.13M
NOI $67,587 @ 7.0% cap · market cap 4.10%
Second Best
Retail
$901.2K
$788.5K – $1.05M
NOI $63,082 @ 7.0% cap · market cap 3.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
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?
Car wash - Established wash operation with self-service, touchless, and soft-touch equipment, plus a separate dryer and vacuum area.
Where is this car wash located?
The property is located at 6980 Tussing Road Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Four self‑service bays, including 1 RV/Truck Bay; Two automatic touchless bays with new Oasis soft‑touch equipment; Detached dryer and 8 vacuums included
