Building Details

Year Built 2002

Year Renovated 2023

Buildings 1

Stories 1

Units 4

Listing Agency: Affordable Realty Services, LLC

Listed By: J J Harrison · License #KY Show Phone

Source: Crexi

Added: Jul 29, 2024 Changed: Oct 14 Last Checked: Oct 16 at 7:41AM

Report an Issue

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 Affordable Realty Services, LLC

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This property in New Richmond, Ohio, features a car wash with 4 bays, each measuring 26 feet deep by 12 feet wide, situated on a 0.49-acre lot. The 2,306 square foot brick building benefits from public water and sewer services. With 325 feet of frontage and high visibility, the location is suitable for a variety of business ventures. The property could continue as a car wash or be repurposed for retail, a drive-thru, or a fast food location.

Key Highlights

• Prime location in New Richmond, Ohio with high visibility and 325 feet of frontage.
• Versatile 0.49‑acre lot suitable for car wash, retail, drive‑thru, or fast food.
• Includes a 2306 sq ft brick building.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,062

Cap Rate

5.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,240 $241.2K

Cap Rate 7%

$172,314 $172.3K

Cap Rate 9%

$134,022 $134.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,306 SF

Gross rent

$18.0K $7.80/SF

− Vacancy

−$755 −$0.33/SF

EGI

$17.2K $7.47/SF

− OpEx

−$5.2K −$2.24/SF

NOI

$12.1K $5.23/SF

Area

Clermont County, OH

Vacancy

4.20%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$241,240

Cap Rate 7%

$172,314

Cap Rate 9%

$134,022

Alternative Uses

Best Use

Specialty Retail

$387.6K

$339.1K – $452.2K (±1% cap)

NOI $27,131 @ 7.0% cap · market cap 11.55%

Second Best

Retail

$320.0K

$280.0K – $373.3K (±1% cap)

NOI $22,397 @ 7.0% cap · market cap 9.53%

Theoretical Best

Office A

$413.4K

$361.7K – $482.3K (±1% cap)

NOI $28,939 @ 7.0% cap · market cap 12.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Car washes

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 45157, OH

9,705

Population

4,069

Households

2.4

Avg Household Size

42

Median Age

25%

College-Educated

91%

High-School Grad

41.1 sq mi

ZIP Area

236

Density / Sq Mi

$96,875

Median Household Income

$43,651

Median Earnings

$874

Median Rent

$232,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Car wash - Well-located car wash with redevelopment potential in New Richmond, Ohio.

Where is this car wash located?

The property is located at 1045 Old US Rte 52 New Richmond Ohio Mount Pisgah, OH.

What is the asking price?

The asking price for this property is $235,000.

What are key features of this property?

This property features: Prime location in New Richmond, Ohio with high visibility and 325 feet of frontage.; Versatile 0.49‑acre lot suitable for car wash, retail, drive‑thru, or fast food.; Includes a 2306 sq ft brick building.