Established Car Wash Business
For Sale
Contact for pricing
434 Frebis Avenue, Columbus, OH 43206
Operating car wash in Marion Village near High St.
Property Size1,950 SF
Price / SF$202.56
Days on Market753
Property Features for 434 Frebis Avenue
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Mixed Use
Zoning
UCT
Building Details
Year Built
2002
Listing Agency:
RE/MAX Revealty
(380) 208-0761
Listed By:
Steve Beaver · License #2003001721
Source:
Crexi
Added: Jul 18, 2024
Changed: Aug 8
Last Checked: May 12 at 9:11PM
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
Investment Insights
Based on property information with market context.
This property, operating as a car wash since 2002, is located in Marion Village. The car wash features updated equipment and includes vending machines for car accessories and cleaning supplies. Maintenance personnel are in place and available to stay on if needed. The property presents a potential development opportunity. It is situated minutes from High Street, I-71, and State Route 104, and less than 20 minutes from Downtown Columbus. A COTA bus stop is located next to the property. The property size is 1950 square feet.
Key Highlights
- Prime location in Marion Village, minutes from High St., I‑71, and State Route 104
- Significant development opportunity: convert the existing structure or build a new building
- Established business since 2002 with updated equipment
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
$26,114
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
6.61%
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%
$522,280
$522.3K
Cap Rate 7%
$373,057
$373.1K
Cap Rate 9%
$290,156
$290.2K
Market Conditions
NOI Build-Up for 1,950 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
$37.4K $19.20/SF
− Vacancy
−$2.6K −$1.34/SF
EGI
$34.8K $17.86/SF
− OpEx
−$8.7K −$4.46/SF
NOI
$26.1K $13.39/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$19.20 /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%
$522,280
Cap Rate 7%
$373,057
Cap Rate 9%
$290,156
Alternative Uses
Best Use
Specialty Retail
$373.1K
$326.4K – $435.2K
NOI $26,114 @ 7.0% cap · market cap 6.61%
Second Best
Retail
$321.2K
$281.0K – $374.7K
NOI $22,482 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$406.4K
$355.6K – $474.1K
NOI $28,447 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Operating car wash in Marion Village near High St.
Where is this car wash located?
The property is located at 434 Frebis Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Prime location in Marion Village, minutes from High St., I‑71, and State Route 104; Significant development opportunity: convert the existing structure or build a new building; Established business since 2002 with updated equipment
