Self-Service Car Wash with Truck
For Sale
$164,900
839 Harding Way W, Galion, OH 44833
Multiple wash formats, vacuum stations, and a change machine support ongoing automotive service use.
Property Size2,800 SF
Price / SF$58.89
Days on Market336
Property Features for 839 Harding Way W
General Information
Standard status
Active
Size
2,800 SF
Zoning
GC
Additional Details
Road Access
Yes
Car Wash Bays
6
Taxes and HOA fees
Annual Taxes
$2,238
Listing Agency:
Craig A. Miley Realty & Auction
(419) 512-6295
Listed By:
Craig Miley
(419) 512-6295
Source:
Exprealty
Added: Sep 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:55AM
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 Craig A. Miley Realty & Auction
Investment Insights
Based on property information with market context.
This 2, 800 sq ft self-service car wash facility includes four wash bays, one automatic wash, and a separate exterior bay sized for semi-trucks. The automatic wash equipment needs to be replaced. Six car vacuums and a change machine are also included, providing additional customer-service infrastructure for the existing operation.
Located at 839 Harding Way W in Galion, Ohio, the property offers 125 feet of street frontage and GC zoning, identified as General Commercial. The configuration supports continued car wash use while retaining an exterior area designed for larger vehicles. An additional parcel, 19-0026595.000, is associated with the property.
Located at 839 Harding Way W in Galion, Ohio, the property offers 125 feet of street frontage and GC zoning, identified as General Commercial. The configuration supports continued car wash use while retaining an exterior area designed for larger vehicles. An additional parcel, 19-0026595.000, is associated with the property.
Key Highlights
- 2, 800 sq ft self‑service car wash facility
- Four self‑service wash bays and one automatic wash
- Exterior wash bay accommodates semi‑trucks
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
$11,506
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
6.98%
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%
$230,120
$230.1K
Cap Rate 7%
$164,371
$164.4K
Cap Rate 9%
$127,844
$127.8K
Market Conditions
NOI Build-Up for 2,800 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
$17.9K $6.41/SF
− Vacancy
−$1.5K −$0.54/SF
EGI
$16.4K $5.87/SF
− OpEx
−$4.9K −$1.76/SF
NOI
$11.5K $4.11/SF
Area
Crawford County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$230,120
Cap Rate 7%
$164,371
Cap Rate 9%
$127,844
Alternative Uses
Best Use
Specialty Retail
$548.9K
$480.3K – $640.4K
NOI $38,422 @ 7.0% cap · market cap 23.30%
Second Best
Retail
$296.8K
$259.7K – $346.2K
NOI $20,773 @ 7.0% cap · market cap 12.60%
Theoretical Best
—
—
same as Best Use
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
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 44833, OH
16,786
Population
8,278
Households
2
Avg Household Size
44
Median Age
16%
College-Educated
91%
High-School Grad
90.4 sq mi
ZIP Area
186
Density / Sq Mi
$57,234
Median Household Income
$39,535
Median Earnings
$772
Median Rent
$127,700
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?
Self service car wash - Multiple wash formats, vacuum stations, and a change machine support ongoing automotive service use.
Where is this self service car wash located?
The property is located at 839 Harding Way W Galion, OH.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: 2, 800 sq ft self‑service car wash facility; Four self‑service wash bays and one automatic wash; Exterior wash bay accommodates semi‑trucks
