Established Car Wash on
25056 Lorain Rd, North Olmsted, OH 44070
Operating car wash on 0.44 acres near Great Northern.
Type:Land
Property size:
2,307 SFLot size:
0.44 AcresPrice / SF:
$693/SF- Added:
- Apr 6, 2023
- Days on Market:
- 1152
- Last Refresh:
- May 12 at 9:35 pm
Property Features for 25056 Lorain Rd
General Information
- Standard status
- Active
- Size
- 2,307 SF
- Lot size
- 0.44 Acres
- Property subtype
- Land
Listing agent Jim Becker License #OH SAL.2006002500
Listing office Goodman Real Estate Services Group LLC
Listing date Apr 6, 2023
Source Crexi
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 Goodman Real Estate Services Group LLC
HighLights
- Established touchless car wash business (since 2006) with steady, increasing annual revenue.
- Prime location on Lorain Road near Great Northern Mall and Plazas.
- Two automatic bays with M5 touchless car wash system.
- Solidly maintained equipment.
- Original owner/operator.
- 0.44 AC property with a 2,307 SF Laser Wash.
Overview
The property features a 2,307-square-foot laser wash facility situated on 0.44 acres. Established in 2006, the car wash includes an M5 touchless system and two automatic bays. The equipment has been solidly maintained. Located on Lorain Road, the property is in the vicinity of Great Northern Mall and Plazas. The business has demonstrated steady and increasing annual revenue.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $158.1k | $68.52 |
| − Vacancy | −$5.8k | −$2.54 |
| EGI | $152.2k | $65.98 |
| − OpEx | −$45.7k | −$19.80 |
| NOI | $106.6k | $46.19 |
2,307 SF · lease $68.52/SF/yr · vacancy 3.70% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.52M
$1.33M – $1.78M
NOI $106,559 @ 7.0% cap · market cap 6.66%
Second Best
Specialty Retail
$360.5K
$315.5K – $420.6K
NOI $25,237 @ 7.0% cap · market cap 1.58%
Theoretical Best
Warehouse
$1.85M
$1.62M – $2.16M
NOI $129,393 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
North Olmsted Laser ...
Car Wash
Location Insight
- Map
- Local Demand
- City
- North Olmsted
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.8993975
- Latitude
- 41.4251197
Nearby Similar for Sale
FAQs
What type of property is this?
Car wash - Operating car wash on 0.44 acres near Great Northern.
Where is this car wash located?
The property is located at 25056 Lorain Rd North Olmsted, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Established touchless car wash business (since 2006) with steady, increasing annual revenue.; Prime location on Lorain Road near Great Northern Mall and Plazas.; Two automatic bays with M5 touchless car wash system.
