Farmington Hills Car Wash
For Sale
Contact for pricing
30544 GRAND RIVER Avenue, Farmington Hills, MI 48336
Car wash for sale in high-traffic Farmington Hills area.
Property Size5,667 SF
Price / SF$70.41
Days on Market1639
Property Features for 30544 GRAND RIVER Avenue
General Information
Standard status
Active
Size
5,667 SF
Property subtype
Retail
Zoning
BI
Building Details
Year Built
1980
Listing Agency:
Own It Realty
(313) 646-7363
Listed By:
Hassan Scheib · License #MI 6502399271
Source:
Crexi
Added: Feb 24, 2022
Changed: Aug 8
Last Checked: Aug 8 at 11:38AM
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 Own It Realty
Investment Insights
Based on property information with market context.
This property, situated in a high-traffic area of Farmington Hills, Michigan, presents a real estate sale opportunity. The sale includes both the real estate and existing equipment. The property is located minutes away from major retailers such as Target, Dunham's, and Dollar Tree. The site offers the potential to add automated washes and more vacuums. The property size is 5667 square feet. Note that the seller does not have any financials to share.
Key Highlights
- Real estate and equipment included in the sale
- High traffic area
- Opportunity to add automated washes and more vacuums
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
$28,078
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
7.04%
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%
$561,560
$561.6K
Cap Rate 7%
$401,114
$401.1K
Cap Rate 9%
$311,978
$312.0K
Market Conditions
NOI Build-Up for 5,667 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
$41.7K $7.35/SF
− Vacancy
−$1.5K −$0.27/SF
EGI
$40.1K $7.08/SF
− OpEx
−$12.0K −$2.12/SF
NOI
$28.1K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$561,560
Cap Rate 7%
$401,114
Cap Rate 9%
$311,978
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,563 @ 7.0% cap · market cap 21.44%
Second Best
Retail
$871.1K
$762.2K – $1.02M
NOI $60,979 @ 7.0% cap · market cap 15.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest 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 - Car wash for sale in high-traffic Farmington Hills area.
Where is this car wash located?
The property is located at 30544 GRAND RIVER Avenue Farmington Hills, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Real estate and equipment included in the sale; High traffic area; Opportunity to add automated washes and more vacuums
