Self-Service Car Wash with
For Sale
$235,000
730 N Main St, Lawton, MI 49065
Inactive car wash with vacuum stations, spray units, and 22 storage units with roll-up doors.
Property Size3,940 SF
Price / SF$59.64
Days on Market37
Property Features for 730 N Main St
General Information
Standard status
Active
Size
3,940 SF
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Self-Storage Units
22
Car Wash Bays
4
Amenities
4 Vacuum stations
3 drive-thru spray units
Outside spray stations
22 storage units
Roll-up doors
Concrete floors
Grassy area
Building Details
Year Built
1990
Listing Agency:
Five Star Real Estate
(269) 330-0486
Listed By:
Colleen Mencl
Source:
Katie-k
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 29 at 12:19PM
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.
Built in 1990, this 3,940-square-foot property combines a self-service car wash with onsite mini storage at 730 N Main St in Lawton, MI. The car wash is currently inactive and includes 4 vacuum stations, three drive-through spray units, and an exterior spray station sized for larger trucks, tractors, and campers.
The storage component contains 22 units with roll-up doors and concrete floors. A grassy area between the storage units is identified for additional storage. The property is next to a Dollar Store on North Main, providing an established commercial setting for the combined car wash and storage improvements.
The storage component contains 22 units with roll-up doors and concrete floors. A grassy area between the storage units is identified for additional storage. The property is next to a Dollar Store on North Main, providing an established commercial setting for the combined car wash and storage improvements.
Key Highlights
- 3,940‑square‑foot property built in 1990
- Car wash includes 4 vacuum stations
- Three drive‑through spray units plus an outside spray station
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
139
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
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Frequently Asked Questions
What type of property is this?
Self service car wash - Inactive car wash with vacuum stations, spray units, and 22 storage units with roll-up doors.
Where is this self service car wash located?
The property is located at 730 N Main St 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: 3,940‑square‑foot property built in 1990; Car wash includes 4 vacuum stations; Three drive‑through spray units plus an outside spray station
