Soft-Touch Tunnel Car Wash &
For Sale
$865,000
917 Keith Street NW, Cleveland, TN 37311
COMMERCIAL - Cleveland, TN
Property Size4,190 SF
Lot Size0.54 Acres
Price / SF$206.44
Days on Market198
Property Features for 917 Keith Street NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Interior features
Bar
Lot features
Level, Level
Elementary school
Stuart
Middle school
Cleveland
High school
Cleveland
Directions
From the inman st, keith st intersection, go North on Keith street, turn left into Walter's Car Wash parking lot
Standard status
Active
APN
049f G 01001 000
Size
4,190 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Annual Amount
5196
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Flooring type
Tile
Building materials
Brick, Stucco
Roof type
Flat
Listing Agency:
Compass Group Realty, LLC
(423) 584-5577
Listed By:
Nicole Reed · License #333846
(423) 503-3977
Added: Feb 1
Changed: Aug 16
Last Checked: Aug 18 at 11:06PM
MLS# 20260530
Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This full-service car wash and lube center includes a soft-touch tunnel car wash with a conveyor belt system, plus a two-bay lube center designed for oil changes, lubrication, and light automotive services. The property is built around established, day-to-day automotive workflows, with the wash and lube components operating as a single commercial site.
The property is located at 917 Keith Street NW in Cleveland, Tennessee (Bradley County). The site is described as having strong visibility, convenient access, and prominent positioning within the market, supporting continued customer draw to the current use.
For buyers and operators seeking an automotive service facility, this configuration provides turnkey functionality for a full-service car wash and lube program. The building is also described as flexible for future conversion, including office space or retail, and concepts that benefit from a drive-through configuration. With a long-running local operating history and continued recognition under multiple names, the property offers a well-known automotive use tailored to an on-site, customer-facing service model.
The property is located at 917 Keith Street NW in Cleveland, Tennessee (Bradley County). The site is described as having strong visibility, convenient access, and prominent positioning within the market, supporting continued customer draw to the current use.
For buyers and operators seeking an automotive service facility, this configuration provides turnkey functionality for a full-service car wash and lube program. The building is also described as flexible for future conversion, including office space or retail, and concepts that benefit from a drive-through configuration. With a long-running local operating history and continued recognition under multiple names, the property offers a well-known automotive use tailored to an on-site, customer-facing service model.
Key Highlights
- Full‑service car wash and lube center with soft‑touch tunnel car wash and conveyor belt system
- Two‑bay lube center for oil changes, lubrication, and light automotive services
- Brick and stucco construction; tile flooring; flat roof
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
Lease Details
2
Service bays
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 - Full-service tunnel car wash with a two-bay lube center, offering practical space for automotive and drive-through concepts.
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: Full‑service car wash and lube center with soft‑touch tunnel car wash and conveyor belt system; Two‑bay lube center for oil changes, lubrication, and light automotive services; Brick and stucco construction; tile flooring; flat roof
