Listing Agency: KDS Caine Commercial Real Estate t***@cbccaine.com Show Phone

Listed By: Pamela Jackson · License #SC141171

Source: Crexi

Added: Mar 18 Changed: Aug 22 Last Checked: Aug 28 at 9:48PM

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Investment Insights

Based on property information with market context.

This commercial property features a laundromat and a car wash. The property has a size of 2,520 square feet.

Key Highlights

• Laundromat & Car Wash business opportunity
• Income‑generating property
• Business with potential for growth

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

$49,613

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

6.24%

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%

$992,260 $992.3K

Cap Rate 7%

$708,757 $708.8K

Cap Rate 9%

$551,256 $551.3K

Market Conditions

NOI Build-Up for 2,520 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

$77.4K $30.72/SF

− Vacancy

−$11.3K −$4.47/SF

EGI

$66.2K $26.25/SF

− OpEx

−$16.5K −$6.56/SF

NOI

$49.6K $19.69/SF

Area

Spartanburg County, SC

Vacancy

14.55%

Lease Rate

$30.72 /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%

$992,260

Cap Rate 7%

$708,757

Cap Rate 9%

$551,256

Alternative Uses

Best Use

Industrial

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,777 @ 7.0% cap · market cap 14.19%

Second Best

Specialty Retail

$708.8K

$620.2K – $826.9K (±1% cap)

NOI $49,613 @ 7.0% cap · market cap 6.24%

Theoretical Best

Warehouse

$1.96M

$1.71M – $2.28M (±1% cap)

NOI $136,943 @ 7.0% cap · market cap 17.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Car washes

Suggested Use

Top Pick Law Firm Parking Lot & Garage Pharmacy Building Supply Spa & Massage Center Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

98

Businesses Nearby

13k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

7,665 visits/mo 0.4 miles

Family Dollar Shops & Services

5,615 visits/mo 0.4 miles

Demographics for 29320, SC

907

Population

310

Households

2.9

Avg Household Size

34

Median Age

36%

College-Educated

90%

High-School Grad

0.6 sq mi

ZIP Area

1,512

Density / Sq Mi

$35,463

Median Household Income

$953

Median Rent

$78,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this car washes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Car wash - Commercial property featuring a laundromat and car wash.

Where is this car wash located?

The property is located at 721 W Blackstock Rd Arcadia, SC.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: Laundromat & Car Wash business opportunity; Income‑generating property; Business with potential for growth