Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Established Car Wash on Prime Land Title is generated by Realmo AI

    4686 Indianola Avenue, Columbus, OH 43214

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Long-standing car wash business with redevelopment potential on nearly one acre.

    Type:Mixed Use, Retail, Office, Special Purpose
    Property size:
    5,580 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $250/SF
    Added:
    Dec 3, 2023
    Days on Market:
    901
    Last Refresh:
    May 12 at 9:34 pm

    Property Features for 4686 Indianola Avenue

    General Information

    Standard status
    Active
    Size
    5,580 SF
    Lot size
    1.00 Acre
    Property subtype
    Mixed Use, Retail, Office, Special Purpose

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    Steve Beaver

    Listing agent Steve Beaver License #2003001721

    Listing office RE/MAX Revealty

    Listing date Dec 3, 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 RE/MAX Revealty

    HighLights

    • Prime location with high visibility and easy access to I‑71.
    • Two parcels totaling nearly one acre offering redevelopment potential.
    • Established car wash business operating since the late 1950s.
    • Updated equipment and existing maintenance personnel.
    • Proximity to proposed Rail System connecting Columbus to Cleveland and Cincinnati.
    • Vending machines included for car accessories and cleaning supplies.

    Overview

    This established car wash business, operating since the late 1950s, presents a prime location with redevelopment potential. The property includes updated equipment and vending machines for car accessories and cleaning supplies. Maintenance personnel are available if needed. The site comprises two parcels totaling nearly one acre. The property offers high visibility and is located minutes from I-71, less than 20 minutes from Easton Town Center, and less than 30 minutes from Downtown Columbus. It is situated next to a COTA park and ride. The property is suitable to continue its use as a car wash, convert the existing structure, or construct a new building. The subject property will be very close to the proposed Rail System that will connect Columbus to Cleveland and Cincinnati Ohio!

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $830.3K
    NOI $74,727 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.07M
    NOI $74,727 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.49M
    NOI $74,727 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $107.1k $19.20
    − Vacancy −$7.5k −$1.34
    EGI $99.6k $17.86
    − OpEx −$24.9k −$4.46
    NOI $74.7k $13.39
    5,580 SF · lease $19.20/SF/yr · vacancy 7.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.07M
    $934.1K – $1.25M (±1% cap)
    NOI $74,727 @ 7.0% cap · market cap 5.34%
    Second Best
    Retail
    $919.0K
    $804.2K – $1.07M (±1% cap)
    NOI $64,332 @ 7.0% cap · market cap 4.60%
    Theoretical Best
    Office A
    $1.16M
    $1.02M – $1.36M (±1% cap)
    NOI $81,403 @ 7.0% cap · market cap 5.81%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.000228
    Latitude
    40.061194

    Nearby Similar for Sale

    • $675,000
      6,569 SF

      Spacious Multi-Unit Property in Columbus

      Four-unit property with renovation potential and modern architectural designs.
      143 S Garfield Ave, Columbus, OH 43205
      View Details
    • $548,000
      3,240 SF

      Minerva Park Office Building Opportunity

      Two-story office building in Minerva Park with dual-use flexibility.
      2505 Woodley Road, Columbus, OH 43231
      View Details
    • $3,500,000
      30,746 SF

      Renovated Flex Building in Columbus

      31,656 SF renovated flex building near Downtown Columbus.
      1025 E 5th Avenue, Columbus, OH 43201
      View Details
    • $1,500,000

      Development Land in Columbus, OH

      4-acre development site ideal for high-density residential project.
      Lockbourne Road, Columbus, OH 43206
      View Details
    • $489,900
      3,200 SF

      Turnkey Four-Unit Investment Opportunity

      Four-unit property with renovated units and value-add potential.
      1524 Genessee Avenue, Columbus, OH 43211
      View Details
    • $1,300,000
      3,080 SF

      Columbus Land Near Commercial Hub

      5.81 acres near industrial businesses, rezoning potential.
      3357 London Groveport Road, Columbus, OH 43217
      View Details
    • $615,000
      3,125 SF

      New Duplex Near Downtown Columbus

      New construction duplex with income potential near Nationwide Children's Hospital.
      961-963 Heyl Avenue, Columbus, OH 43206
      View Details
    • $1,100,000
      7,232 SF

      Historic Duplex in Dennison Place

      Rare opportunity: historic duplex near Short North, Downtown, and OSU.
      422-420 W 6th Avenue, Columbus, OH 43201
      View Details
    • Contact for pricing
      6,475 SF

      Commercial Condo Office Buildings

      Modern commercial condo office buildings suitable for various uses.
      3530 Snouffer Road, Columbus, OH 43235
      View Details
    • $435,000
      1,638 SF

      Turnkey Office & Vacant Lot

      Boutique office and adjacent lot in Columbus's Southern Orchards.
      752 Forest Street, Columbus, OH 43206
      View Details
    • $1,650,000

      Renovated Multifamily Property in Columbus

      Turnkey 9-unit property with immediate income and upside potential.
      2080-2090 E 5th Avenue, Columbus, OH 43219
      View Details
    • $175,000

      Restaurant Opportunity Near Ohio State

      Restaurant franchise opportunity in a high-traffic location near Ohio State.
      1762 N High Street, Columbus, OH 43201
      View Details

    FAQs

    What type of property is this?
    Car wash - Long-standing car wash business with redevelopment potential on nearly one acre.
    Where is this car wash located?
    The property is located at 4686 Indianola Avenue Columbus, OH.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Prime location with high visibility and easy access to I‑71.; Two parcels totaling nearly one acre offering redevelopment potential.; Established car wash business operating since the late 1950s.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steve Beaver
    Real Estate License ID: 2003001721
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4686 Indianola Avenue, Columbus, OH 43214
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!