2176 Hamner AveNorco, CA 92860

Property Details for 2176 Hamner Ave

Year built

1982

Construction

TILT-UP CONCRETE

Lot size

1.23 AC

Property size (Sq ft)

7,016 SF

Zone code

M1

Property type

Retail properties

Property subtype

Retail space

APN

126-050-020

APU

126050020

Description

Exceptional investment opportunity: a high-performing, self-serve car wash in Norco, CA, is available for purchase. This established business, known as "The Dirt Stripper," boasts a strong track record, averaging over $1.75 million in gross sales annually for the past three years. Located on a 1.23-acre lot at 2176 Hamner Ave, 92860, this 7,016 square foot facility, built in 1982 and renovated in 2004, features 17 bays (13 car, 4 RV/truck), 15 vacuum islands with combo blowers, and 13 vending stations. A unique 3,600 square foot steel-beamed, shaded vacuum and drying area adds significant value. The entire operation is automated with over 60 self-serve credit card machines. The property benefits from its prime location on a major auto dealership corridor, with numerous auto-related businesses nearby. The recent approval of the Norco Valley Square development further enhances the area's appeal and potential for increased traffic. This single-unit property offers a 7.20% cap rate and a net operating income (NOI) of $864,000, with an asking price of $12,000,000. The property is zoned for accessory auto uses within the Norco Auto Mall Specific Plan and qualifies for bonus depreciation. This is a rare opportunity to acquire a unique, high-volume car wash with a loyal customer base and significant growth potential. Financial statements are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $2,834,572

  6.5%

  $2,616,528

  7%

  $2,429,634

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,101,526

  Geo Method

  $6,222,942

• Alternative Use

  Use

  Valuation

  Residential

  $2,207,140

  Hospitality

  $2,021,728

  Educational

  $1,682,054

  Medical

  $1,739,902

  Retail

  $2,616,528

Location Insight

City

Norco

County

Riverside

State

California

Latitude

33.9134

Longitude

-117.561

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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