Car Wash and Mini Storage
For Sale
Contact for pricing
730 N Main Street, Lawton, MI 49065
Combination car wash setup and mini storage with roll-up unit access, plus exterior vacuum and spray options.
Property Size3,940 SF
Price / SF$59.64
Days on Market53
Property Features for 730 N Main Street
General Information
Standard status
Active
Size
3,940 SF
Property subtype
Business for Sale, Industrial
Building Details
Year Built
1990
Buildings
3
Units
22
Listing Agency:
Five Star Real Estate
(269) 330-0486
Listed By:
Colleen Mencl
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 9 at 12:28PM
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 Five Star Real Estate
Investment Insights
Based on property information with market context.
The property combines a self-service car wash facility with mini storage units. The car wash includes four vacuum stations and three drive-through spray units, along with additional outside spray stations suited for larger vehicles such as trucks, tractors, and campers. The car wash is currently inactive. The mini storage component has 22 storage units with roll-up doors and concrete floors. There is also a grassy area between the storage units that may provide room for additional storage expansion.
The property is located next to a Dollar Store on North Main Street in Lawton, Michigan. This positioning supports a convenient retail-style environment where vehicle service and storage needs can be handled on-site.
For buyers, the mix of vehicle washing infrastructure and multiple storage bays can accommodate operators seeking a combined use model or an alternate business plan that leverages the existing self-service configuration. The roll-up doors and concrete floors may appeal to tenants needing straightforward, direct unit access, while the outside spray stations and drive-through layout can support a future reactivation or repurposing of the car wash area.
The property is located next to a Dollar Store on North Main Street in Lawton, Michigan. This positioning supports a convenient retail-style environment where vehicle service and storage needs can be handled on-site.
For buyers, the mix of vehicle washing infrastructure and multiple storage bays can accommodate operators seeking a combined use model or an alternate business plan that leverages the existing self-service configuration. The roll-up doors and concrete floors may appeal to tenants needing straightforward, direct unit access, while the outside spray stations and drive-through layout can support a future reactivation or repurposing of the car wash area.
Key Highlights
- Lawton car wash and mini storage property built in 1990
- Car wash includes 4 vacuum stations with three drive‑thru spray units plus exterior spray stations for larger vehicles
- Car wash is currently inactive
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
$20,350
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
8.66%
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%
$407,000
$407.0K
Cap Rate 7%
$290,714
$290.7K
Cap Rate 9%
$226,111
$226.1K
Market Conditions
NOI Build-Up for 3,940 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
$29.8K $7.56/SF
− Vacancy
−$715 −$0.18/SF
EGI
$29.1K $7.38/SF
− OpEx
−$8.7K −$2.21/SF
NOI
$20.4K $5.16/SF
Area
Van Buren County, MI
Vacancy
2.40%
Lease Rate
$7.56 /SF/Yr
Expense Ratio
30.00%
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%
$407,000
Cap Rate 7%
$290,714
Cap Rate 9%
$226,111
Alternative Uses
Best Use
Specialty Retail
$651.0K
$569.7K – $759.6K
NOI $45,573 @ 7.0% cap · market cap 19.39%
Second Best
Retail
$584.3K
$511.3K – $681.7K
NOI $40,901 @ 7.0% cap · market cap 17.40%
Theoretical Best
Multifamily LT 5
$48.72M
$42.63M – $56.84M
NOI $3,410,220 @ 7.0% cap · market cap 1,451.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 49065, MI
6,974
Population
3,559
Households
2
Avg Household Size
43
Median Age
23%
College-Educated
94%
High-School Grad
44.8 sq mi
ZIP Area
156
Density / Sq Mi
$73,125
Median Household Income
$46,625
Median Earnings
$856
Median Rent
$235,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Combination car wash setup and mini storage with roll-up unit access, plus exterior vacuum and spray options.
Where is this car wash located?
The property is located at 730 N Main Street Lawton, MI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Lawton car wash and mini storage property built in 1990; Car wash includes 4 vacuum stations with three drive‑thru spray units plus exterior spray stations for larger vehicles; Car wash is currently inactive
