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    500 Washington St Oregon, IL 61061

    Sponsored
    For Sale
    $162,000

    Profitable Car Wash, High Traffic

    Property size:
    1,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 1,600 square foot auto shop, located at 500 E Washington Street in Oregon, Illinois (zip code 61061), presents a compelling investment opportunity. Situated on the heavily trafficked Route 64, this single-story building boasts excellent visibility and accessibility. The property includes one automatic car wash bay, two manual wash bays, and three high-powered vacuum stations, providing a comprehensive car cleaning service. The 0.351-acre lot offers potential for expansion or further development. The property is zoned Commercial (Commr) and is currently operating as a turnkey business, presenting immediate income potential. Features include air conditioning. While the property is being sold as a foreclosure, it is well-maintained and offers significant potential for growth and increased profitability. This is an ideal acquisition for investors seeking a strong return on investment or entrepreneurs looking to establish a thriving business in a high-traffic location. The property is being sold as-is.

    Property Features for 500 Washington St

    General Information

    Property type
    Automotive properties
    Square Feet
    1,600 SF
    Lot Size
    15,290 SF

    Building Details

    Stories
    1

    HighLights

    • Foreclosure property.
    • High‑traffic location on Route 64 in Oregon, IL.
    • Turnkey auto shop with immediate income potential.
    • 1,600 sq ft building with one automatic and two manual car wash bays, plus three vacuum stations.
    • 0.351‑acre lot with expansion potential.
    • Air conditioning.
    Property Profile Location Intelligence

    Current Use by Public Records

    United States Postal ... Post Office Rock River Car ... Car Wash

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Oregon
    County
    Ogle
    State
    Illinois
    Longitude
    -89.3194522
    Latitude
    42.0147049

    Nearby Comparable

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      Three city lots zoned B2 Business District on Illinois State Hwy
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      Spacious Duplex on Large Lot

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    Nearby Similar for Sale

    • $189,000

      Updated 3-Unit Multifamily Investment

      Well-maintained 3-unit property near downtown Oregon with recent updates.
      213 N 4Th St, Oregon, IL 61061
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    • $139,900
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      Updated Two-Unit Home Near Downtown

      Updated two-unit home offers versatility, comfort, and value.
      708 W Washington St, Oregon, IL 61061
      View Details
    • $140,000
      2,044 SF

      Spacious Duplex on Large Lot

      Two units, each with 4 bedrooms on 1.68 acres.
      2931 S Lowden Rd, Oregon, IL 61061
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    • $295,000
      0.20 Acres

      Turnkey 4-Unit Apartment Building

      Well-maintained, updated 4-unit apartment building in Oregon, Illinois.
      207 N 7Th St, Oregon, IL 61061
      View Details
    • $169,900
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      Downtown Retail/Office Building Opportunity

      Versatile 1,800+ sq ft retail/office building in downtown Oregon, IL.
      502 Franklin St, Oregon, IL 61061
      View Details
    • $395,000

      Spacious Retail Property on Route 64

      Over 9,000 sq ft retail space on 1.36 acres.
      1107 E Il Route 64, Oregon, IL 61061
      View Details
    • $449,000
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      Prime Oregon Retail Space

      6,600 SF Retail Building, $449,000
      1107 Il Rt 64, Oregon, IL 61061
      View Details

    FAQs

    What type of property is this?
    Automotive property - Profitable Car Wash, High Traffic
    Where is this automotive property located?
    The property is located at 500 Washington St Oregon, IL.
    What is the asking price?
    The asking price for this property is $162,000.
    What are key features of this property?
    This property features: Foreclosure property.; High-traffic location on Route 64 in Oregon, IL.; Turnkey auto shop with immediate income potential.
    Request Owner's contact information
    500 Washington St Oregon, IL 61061
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    Oregon, IL 61061
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    Realmo Value Estimation

    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.

    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.

    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
    500 Washington St Oregon, IL 61061
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