Car Wash with Coffee
For Sale
Contact for pricing
9105 Martin Way E, Lacey, WA 98516
Automotive property featuring a BigFoot Java coffee-shop component in Lacey, Washington.
Property Size37,026 SF
Price / SF$134.64
Days on Market88
Property Features for 9105 Martin Way E
General Information
Standard status
Active
Size
37,026 SF
Property subtype
Special Purpose
Zoning
MHDC
Investment Type
Owner/User
Net Operating Income
$582,000
Additional Details
Cap Rate
11.7%
Building Details
Year Built
2004
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Matthew Schmidt · License #SA711979000
Source:
Crexi
Added: Jun 4
Changed: Aug 30
Last Checked: Aug 30 at 2:12AM
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 Matthews
Investment Insights
Based on property information with market context.
This car wash property is located at 9105 Martin Way E in Lacey, Washington, and includes a BigFoot Java coffee-shop component. The improvements date to 2004, and the property carries MHDC zoning.
The offering is presented with an 11.7% cap rate. The address places the asset on Martin Way E within the Lacey market.
The offering is presented with an 11.7% cap rate. The address places the asset on Martin Way E within the Lacey market.
Key Highlights
- 11.7% cap rate
- BigFoot Java coffee‑shop component
- Car wash property at 9105 Martin Way E, Lacey, WA 98516
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
$446,933
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
8.97%
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%
$8,938,660
$8.9M
Cap Rate 7%
$6,384,757
$6.4M
Cap Rate 9%
$4,965,922
$5.0M
Market Conditions
NOI Build-Up for 37,026 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
$666.5K $18.00/SF
− Vacancy
−$28.0K −$0.76/SF
EGI
$638.5K $17.24/SF
− OpEx
−$191.5K −$5.17/SF
NOI
$446.9K $12.07/SF
Area
Thurston County, WA
Vacancy
4.20%
Lease Rate
$18.00 /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%
$8,938,660
Cap Rate 7%
$6,384,757
Cap Rate 9%
$4,965,922
Alternative Uses
Best Use
Retail
$6.38M
$5.59M – $7.45M
NOI $446,933 @ 7.0% cap · market cap 8.97%
Second Best
Specialty Retail
$5.75M
$5.03M – $6.70M
NOI $402,240 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$10.84M
$9.49M – $12.65M
NOI $758,885 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 98516, WA
29,443
Population
11,600
Households
2.5
Avg Household Size
38
Median Age
37%
College-Educated
94%
High-School Grad
28.8 sq mi
ZIP Area
1,022
Density / Sq Mi
$92,191
Median Household Income
$52,188
Median Earnings
$1,948
Median Rent
$528,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Automotive property featuring a BigFoot Java coffee-shop component in Lacey, Washington.
Where is this car wash located?
The property is located at 9105 Martin Way E Lacey, WA.
What is the asking price?
The asking price for this property is $4,985,000.
What are key features of this property?
This property features: 11.7% cap rate; BigFoot Java coffee‑shop component; Car wash property at 9105 Martin Way E, Lacey, WA 98516
