Automated and Self-Service Car
For Sale
$600,000
8219 Broadway Ave, Cleveland, OH 44105
Operating automotive facility with multiple wash formats, payment options, vacuums, and 24-hour access.
Property Size2,955 SF
Lot Size0.56 Acres
Price / SF$203.05
Days on Market37
Property Features for 8219 Broadway Ave
General Information
Standard status
Active
Size
2,955 SF
Lot size
0.56 Acres
Site & Location
Traffic Count
12,800 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Car Wash Bays
6
Building Details
Year Built
2001
Abandoned
No
Listing Agency:
Olsen Ziegler Realty LLC
(216) 702-0537
Listed By:
Chris H Olsen · License #2007005771
Source:
Theacclaimedrealty
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 30 at 6:40AM
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 Olsen Ziegler Realty LLC
Investment Insights
Based on property information with market context.
Located at 8219 Broadway Ave in Cleveland, Ohio, this operating car wash occupies 0.56 acres and includes 2,955 square feet of improvements. The facility has one Oasis Typhoon no-touch automatic bay and five self-service bays. Customers can pay with cash, credit cards, or tokens, while support equipment includes nine high-suction vacuums, fragrance machines, and a shampooer. The property has operated since 2001 and is open 24 hours.
A 2026 technology upgrade added a point-of-sale system designed for contactless payments, mobile wallets, and encrypted credit transactions. Public water and sewer serve the property, with forced air, gas, radiant, and space-heater systems also identified. The site is on Broadway Avenue, where traffic is approximately 12,800 vehicles per day, with access to I-77 nearby. Surrounding automotive and retail businesses include AutoZone, O'Reilly Auto Parts, Advanced Auto Parts, and Tires Plus.
A 2026 technology upgrade added a point-of-sale system designed for contactless payments, mobile wallets, and encrypted credit transactions. Public water and sewer serve the property, with forced air, gas, radiant, and space-heater systems also identified. The site is on Broadway Avenue, where traffic is approximately 12,800 vehicles per day, with access to I-77 nearby. Surrounding automotive and retail businesses include AutoZone, O'Reilly Auto Parts, Advanced Auto Parts, and Tires Plus.
Key Highlights
- 0.56‑acre car wash property with 2,955 SF of improvements
- One Oasis Typhoon no‑touch automatic bay plus five self‑service bays
- Nine high‑suction vacuums, fragrance machines, and a shampooer
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
$37,100
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
6.18%
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%
$742,000
$742.0K
Cap Rate 7%
$530,000
$530.0K
Cap Rate 9%
$412,222
$412.2K
Market Conditions
NOI Build-Up for 2,955 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
$53.2K $18.00/SF
− Vacancy
−$3.7K −$1.26/SF
EGI
$49.5K $16.74/SF
− OpEx
−$12.4K −$4.19/SF
NOI
$37.1K $12.56/SF
Area
Cleveland, OH
Vacancy
7.00%
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%
$742,000
Cap Rate 7%
$530,000
Cap Rate 9%
$412,222
Alternative Uses
Best Use
Specialty Retail
$530.0K
$463.8K – $618.3K
NOI $37,100 @ 7.0% cap · market cap 6.18%
Second Best
Retail
$405.6K
$354.9K – $473.2K
NOI $28,390 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$721.1K
$631.0K – $841.3K
NOI $50,478 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,800 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 44105, OH
34,100
Population
17,528
Households
1.9
Avg Household Size
38
Median Age
11%
College-Educated
83%
High-School Grad
8.9 sq mi
ZIP Area
3,831
Density / Sq Mi
$38,294
Median Household Income
$32,389
Median Earnings
$888
Median Rent
$56,400
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Operating automotive facility with multiple wash formats, payment options, vacuums, and 24-hour access.
Where is this car wash located?
The property is located at 8219 Broadway Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 0.56‑acre car wash property with 2,955 SF of improvements; One Oasis Typhoon no‑touch automatic bay plus five self‑service bays; Nine high‑suction vacuums, fragrance machines, and a shampooer
