Sylvania Car Wash For
For Sale
Contact for pricing
7528 Sylvan Towne Dr, Sylvania, OH 43560
Established car wash in prime Sylvania retail corridor.
Property Size3,365 SF
Lot Size1.00 Acre
Price / SF$267.46
Days on Market701
Property Features for 7528 Sylvan Towne Dr
General Information
Standard status
Active
Size
3,365 SF
Lot size
1.00 Acre
Property subtype
Special Purpose
Zoning
B2 General Business
Building Details
Year Built
2002
Year Renovated
2022
Listing Agency:
Reichle | Klein Group
(419) 861-1100
Listed By:
Brent Patterson · License #OH 0000399625
Source:
Crexi
Added: Sep 10, 2024
Changed: Aug 8
Last Checked: May 12 at 8:03PM
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 Reichle | Klein Group
Investment Insights
Based on property information with market context.
The property is a car wash located in Sylvania, Ohio. The car wash facilities include soft cloth, touch-free, and automatic bays, along with vacuums and car care products. The location benefits from 24-hour surveillance and well-lit bays. A new Autec Evolution EV-1 was installed in the automatic bay in 2022, with additional capital expenditures made to the car wash equipment and property. The car wash is situated on a 1-acre parcel within an outlot of a Kroger-anchored shopping center, positioned in the retail corridor of Sylvania Avenue. Sylvania Avenue experiences over 13,000 vehicles per day, while King Road sees 17,000 vehicles per day. The location is in an upscale suburb of Sylvania. Across the street is Sylvania Southview High School, which contributes an additional 600 students daily. A new Scooters Coffee Shop is located nearby. A large apartment community on the same street is expected to increase traffic in the area. The property size is 3365 square feet.
Key Highlights
- Prime location on Sylvania Ave. with high traffic volume (13,000+ vehicles per day) and King Road (17,000+ vehicles per day).
- Located on a 1‑acre parcel as an outlot to a Kroger‑anchored shopping center.
- New Autec Evolution EV‑1 installed in Automatic Bay in 2022.
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
$43,111
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
4.79%
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%
$862,220
$862.2K
Cap Rate 7%
$615,871
$615.9K
Cap Rate 9%
$479,011
$479.0K
Market Conditions
NOI Build-Up for 3,365 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
$60.6K $18.00/SF
− Vacancy
−$3.1K −$0.92/SF
EGI
$57.5K $17.08/SF
− OpEx
−$14.4K −$4.27/SF
NOI
$43.1K $12.81/SF
Area
Lucas County, OH
Vacancy
5.10%
Lease Rate
$18.00 /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%
$862,220
Cap Rate 7%
$615,871
Cap Rate 9%
$479,011
Alternative Uses
Best Use
Specialty Retail
$615.9K
$538.9K – $718.5K
NOI $43,111 @ 7.0% cap · market cap 4.79%
Second Best
Retail
$342.5K
$299.7K – $399.6K
NOI $23,974 @ 7.0% cap · market cap 2.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
102k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 53%
Shops & Services 35%
Dining 7%
Beauty & Spa 5%
Kroger
Groceries
53,776 visits/mo
0.1 miles
Kroger Fuel Center
Shops & Services
16,829 visits/mo
0.2 miles
Dollar Tree
Shops & Services
16,546 visits/mo
0.3 miles
Scooter's Coffee
Dining
5,359 visits/mo
0.2 miles
Great Clips
Beauty & Spa
2,743 visits/mo
0.3 miles
Demographics for 43560, OH
34,204
Population
13,107
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
98%
High-School Grad
21.2 sq mi
ZIP Area
1,613
Density / Sq Mi
$104,865
Median Household Income
$59,940
Median Earnings
$1,102
Median Rent
$262,200
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 car wash in prime Sylvania retail corridor.
Where is this car wash located?
The property is located at 7528 Sylvan Towne Dr Sylvania, OH.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Prime location on Sylvania Ave. with high traffic volume (13,000+ vehicles per day) and King Road (17,000+ vehicles per day).; Located on a 1‑acre parcel as an outlot to a Kroger‑anchored shopping center.; New Autec Evolution EV‑1 installed in Automatic Bay in 2022.
