Renovated Car Wash
For Sale
$2,200,000
8701 W 159th St, Orland Park, IL 60462
Recently opened operation with upgraded wash systems, customer waiting space, and restrooms.
Property Size5,500 SF
Price / SF$400
Days on Market198
Property Features for 8701 W 159th St
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Amenities
waiting area
restrooms
Listing Agency:
RE/MAX Market
Listed By:
Maribeth Garrett
(708) 558-8800
Source:
Searchillinoishomesforsale
Added: Mar 30
Changed: Oct 1
Last Checked: Oct 11 at 6:20AM
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 RE/MAX Market
Investment Insights
Based on property information with market context.
This car wash facility at 8701 W 159th Street in Orland Park, Illinois, opened 3 months ago following a complete interior and exterior renovation. The property includes newly installed wash equipment, a remodeled customer waiting area, and clean restrooms.
Service capabilities include both hand washing and touch-free vehicle cleaning using high-end systems. The facility is positioned as a modern automotive service operation focused on vehicle care and a customer-oriented environment.
Service capabilities include both hand washing and touch-free vehicle cleaning using high-end systems. The facility is positioned as a modern automotive service operation focused on vehicle care and a customer-oriented environment.
Key Highlights
- Opened 3 months ago
- Complete interior and exterior renovation
- New wash equipment installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,070
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,400
$1.8M
Cap Rate 7%
$1,315,286
$1.3M
Cap Rate 9%
$1,023,000
$1.0M
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$132.0K $24.00/SF
− Vacancy
−$9.2K −$1.68/SF
EGI
$122.8K $22.32/SF
− OpEx
−$30.7K −$5.58/SF
NOI
$92.1K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,400
Cap Rate 7%
$1,315,286
Cap Rate 9%
$1,023,000
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.53M
NOI $92,070 @ 7.0% cap · market cap 4.19%
Second Best
Retail
$1.09M
$954.3K – $1.27M
NOI $76,341 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $132,923 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Hotels & Casinos 13%
Apparel 5%
Dining 3%
Shell
Shops & Services
18,614 visits/mo
0.4 miles
Georgios Banquets, Quality Inn & Suites Conference Centre
Hotels & Casinos
6,189 visits/mo
0.2 miles
Orland Toyota
Shops & Services
5,972 visits/mo
0.3 miles
U.S. Bank
Shops & Services
4,786 visits/mo
0.1 miles
BMO Harris Bank
Shops & Services
3,494 visits/mo
0.4 miles
Demographics for 60462, IL
40,539
Population
17,335
Households
2.3
Avg Household Size
45
Median Age
45%
College-Educated
94%
High-School Grad
16.0 sq mi
ZIP Area
2,534
Density / Sq Mi
$96,747
Median Household Income
$52,902
Median Earnings
$1,393
Median Rent
$330,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Car wash - Recently opened operation with upgraded wash systems, customer waiting space, and restrooms.
Where is this car wash located?
The property is located at 8701 W 159th St Orland Park, IL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Opened 3 months ago; Complete interior and exterior renovation; New wash equipment installed
