Touch-Free Automatic Car
709 Parsons Road, Traverse City, MI 49686
For Sale
New
$665,000
Commercial, Traverse City, MI
Property Size2,340 SF
Lot Size1.53 Acres
Price / SF$284.19
Days on Market6
Property Features for 709 Parsons Road
General Information
Property type
Property subtype
Zoning description
Parking features
Exterior features
Lot features
Directions
Subdivision
Standard status
Size
Lot size
Tenancy & Operations
Currently Operating
Real Estate Included
Business Included
Automotive
Automotive Uses
Car Wash Format
Taxes and HOA fees
Tax Description
Legal Description
Amenities
vacuums
change machine
credit card payment
security cameras
Building Details
Building materials
Roof type
Buildings
Listing Agency:
Manitou Commercial Real Estate, LLC
Listed By:
Kevin Query · License MI #6502433236
(231) 632-9596
Added: Nov 7
Changed: Nov 11
Last Checked: Nov 12 at 7:06AM
MLS# 1952471
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This operating self-service car wash includes the business, real estate, and wash equipment. The 2,340-square-foot block building contains three wand-wash bays and two touch-free automatic drive-through bays. On-site features include vacuums, a change machine, credit card payment, security cameras, and a parking lot. The wash has operated at this site since 1997.
The 1.53-acre parcel is at Parsons Road and Avenue B in Traverse City, with approximately 167 feet of frontage on Parsons Road. It is zoned C-3 Community Center, a designation that allows a range of commercial uses. The TART Trail runs along the property’s south boundary, and the site is next to 707 Parsons Road.
The 1.53-acre parcel is at Parsons Road and Avenue B in Traverse City, with approximately 167 feet of frontage on Parsons Road. It is zoned C-3 Community Center, a designation that allows a range of commercial uses. The TART Trail runs along the property’s south boundary, and the site is next to 707 Parsons Road.
Key Highlights
- Sale includes the operating car wash business, real estate, and equipment
- 1.53‑acre site with approximately 167 feet of frontage on Parsons Road
- 2,340‑square‑foot block building with three self‑service bays and two touch‑free automatic bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,278
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,560
$625.6K
Cap Rate 7%
$446,829
$446.8K
Cap Rate 9%
$347,533
$347.5K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$44.4K $18.96/SF
− Vacancy
−$2.7K −$1.14/SF
EGI
$41.7K $17.82/SF
− OpEx
−$10.4K −$4.46/SF
NOI
$31.3K $13.37/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,560
Cap Rate 7%
$446,829
Cap Rate 9%
$347,533
Alternative Uses
Best Use
Specialty Retail
$446.8K
$391.0K – $521.3K
NOI $31,278 @ 7.0% cap · market cap 4.70%
Second Best
Retail
$413.3K
$361.7K – $482.2K
NOI $28,934 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$508.3K
$444.8K – $593.1K
NOI $35,583 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
66k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 23%
Apparel 17%
Beauty & Spa 3%
Dollar Tree
Shops & Services
14,840 visits/mo
0.2 miles
Jo-Ann Fabric and Craft
Shops & Services
13,167 visits/mo
0.3 miles
Dunham's Sports
Apparel
11,093 visits/mo
0.2 miles
BIGGBY COFFEE
Dining
7,270 visits/mo
0.3 miles
Tropical Smoothie Cafe
Dining
5,339 visits/mo
0.3 miles
Demographics for 49686, MI
25,859
Population
13,261
Households
2
Avg Household Size
45
Median Age
46%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
547
Density / Sq Mi
$71,198
Median Household Income
$40,373
Median Earnings
$1,209
Median Rent
$295,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Self service car wash - The sale combines an operating business with its real estate and car wash equipment.
Where is this self service car wash located?
The property is located at 709 Parsons Road Traverse City, MI.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Sale includes the operating car wash business, real estate, and equipment; 1.53‑acre site with approximately 167 feet of frontage on Parsons Road; 2,340‑square‑foot block building with three self‑service bays and two touch‑free automatic bays
