Automatic and Self-Service Car
For Sale
Contact for pricing
29007 Lakeshore Blvd, Willowick, OH 44095
Car wash with automatic and self-service bays for sale.
Property Size1,980 SF
Price / SF$108.59
Days on Market788
Property Features for 29007 Lakeshore Blvd
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Special Purpose
Building Details
Year Built
1995
Buildings
1
Stories
1
Units
1
Listing Agency:
NAI Pleasant Valley
(330) 575-7584
Listed By:
Margaret Slesnick · License #OH 2016001550
Source:
Crexi
Added: Jun 13, 2024
Changed: Aug 8
Last Checked: Aug 9 at 12:10PM
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 NAI Pleasant Valley
Investment Insights
Based on property information with market context.
This commercial property features a car wash equipped with 1 automatic bay and 4 self-service bays. The facility includes heated floors and 8 vacuums. It is equipped with a credit card reader. The property has new equipment and has been repainted. The sale includes all supplies and tools. Over $45,000 in upgrades have been invested in the property. The car wash also features Touch 4 Wash memberships, an app-based program. The property size is 1,980 square feet.
Key Highlights
- Automatic Bay and Self‑Service Bays
- New Equipment
- Credit Card Reader available
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
$18,564
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
8.63%
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%
$371,280
$371.3K
Cap Rate 7%
$265,200
$265.2K
Cap Rate 9%
$206,267
$206.3K
Market Conditions
NOI Build-Up for 1,980 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
$27.8K $14.04/SF
− Vacancy
−$1.3K −$0.65/SF
EGI
$26.5K $13.39/SF
− OpEx
−$8.0K −$4.02/SF
NOI
$18.6K $9.38/SF
Area
Lake County, OH
Vacancy
4.60%
Lease Rate
$14.04 /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%
$371,280
Cap Rate 7%
$265,200
Cap Rate 9%
$206,267
Alternative Uses
Best Use
Specialty Retail
$303.6K
$265.6K – $354.2K
NOI $21,250 @ 7.0% cap · market cap 9.88%
Second Best
Retail
$265.2K
$232.1K – $309.4K
NOI $18,564 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$457.3K
$400.2K – $533.5K
NOI $32,012 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 44095, OH
32,616
Population
15,469
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
3,584
Density / Sq Mi
$69,778
Median Household Income
$43,895
Median Earnings
$985
Median Rent
$162,600
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 - Car wash with automatic and self-service bays for sale.
Where is this car wash located?
The property is located at 29007 Lakeshore Blvd Willowick, OH.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Automatic Bay and Self‑Service Bays; New Equipment; Credit Card Reader available
