Car Wash Property with Parking
For Sale
$865,000
917 Keith Street NW, Cleveland, TN 37311
For sale car wash property with direct access to its dedicated parking lot.
Property Size4,190 SF
Days on Market205
Property Features for 917 Keith Street NW
General Information
Standard status
Active
Size
4,190 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
4,190 SF
Year Built
1976
Listing Agency:
Compass Group Realty LLC
(423) 503-3977
Listed By:
Nicole Reed
(423) 503-3977
Source:
Firstrealty
Added: Feb 1
Changed: Aug 24
Last Checked: Aug 25 at 8:40AM
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 Compass Group Realty LLC
Investment Insights
Based on property information with market context.
This for-sale car wash property is located at 917 Keith Street NW and operates from a dedicated site designed to support customer arrivals and vehicle processing on-site. The offering includes parking lot access for approach and service convenience.
Access directions are provided from the Inman St and Keith St intersection, traveling north on Keith Street and turning left into Walter's Car Wash parking lot. The property is in Bradley County.
For buyers or operators seeking an automotive-focused site, this car wash location offers a straightforward, purpose-built setting for a vehicle cleaning operation. Its established configuration around the on-site parking area can support day-to-day customer flow, making it a practical fit for an owner-operator or an automotive services investor evaluating a car wash asset.
Access directions are provided from the Inman St and Keith St intersection, traveling north on Keith Street and turning left into Walter's Car Wash parking lot. The property is in Bradley County.
For buyers or operators seeking an automotive-focused site, this car wash location offers a straightforward, purpose-built setting for a vehicle cleaning operation. Its established configuration around the on-site parking area can support day-to-day customer flow, making it a practical fit for an owner-operator or an automotive services investor evaluating a car wash asset.
Key Highlights
- Car wash property with direct access to a dedicated parking lot
- Year built: 1976
- Heating: none; cooling: none
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
$42,311
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
4.89%
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%
$846,220
$846.2K
Cap Rate 7%
$604,443
$604.4K
Cap Rate 9%
$470,122
$470.1K
Market Conditions
NOI Build-Up for 4,190 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
$60.3K $14.40/SF
− Vacancy
−$3.9K −$0.94/SF
EGI
$56.4K $13.46/SF
− OpEx
−$14.1K −$3.37/SF
NOI
$42.3K $10.10/SF
Area
Bradley County, TN
Vacancy
6.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$846,220
Cap Rate 7%
$604,443
Cap Rate 9%
$470,122
Alternative Uses
Best Use
Specialty Retail
$604.4K
$528.9K – $705.2K
NOI $42,311 @ 7.0% cap · market cap 4.89%
Second Best
Retail
$565.7K
$495.0K – $659.9K
NOI $39,596 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$879.2K
$769.3K – $1.03M
NOI $61,543 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 46%
Home Improvements & Furnishings 5%
Electronics 1%
Starbucks
Dining
21,703 visits/mo
0.5 miles
Shell
Shops & Services
9,505 visits/mo
0.5 miles
AutoZone
Shops & Services
4,856 visits/mo
0.1 miles
Chevron
Shops & Services
3,526 visits/mo
0.5 miles
Pearle Vision
Shops & Services
2,921 visits/mo
0.1 miles
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - For sale car wash property with direct access to its dedicated parking lot.
Where is this car wash located?
The property is located at 917 Keith Street NW Cleveland, TN.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Car wash property with direct access to a dedicated parking lot; Year built: 1976; Heating: none; cooling: none
