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    OFF-MARKET
    Car washes

    2337 Washington Rd, Washington, IL 61571-1853

    3,600 SF 0.57 ac lot Built 1965
    Entity Owned 1-yr Hold Absentee Owner Free & Clear
    Property ID
    US28-1594033
    Property summary
    AI-generated overview

    This bank-owned, 3,600 square foot car wash in Washington, IL, presents a unique redevelopment opportunity. Located on a 0.57-acre lot at the corner of Washington Road (IL-8) and Briargate Road, this property benefits from high visibility and convenient access. Built in 1965 and renovated in 2018, the structure features a slab foundation, block construction, metal/steel roof, and vinyl veneer exterior. The former car wash included four self-service bays and one automatic wash bay, along with two vacuum systems (currently removed). The property boasts a large parking lot and one curb cut on Washington Road/IL-8, plus two separate ingress/egress points on Briargate Road. Each of the approximately 450 square foot bays could be repurposed as individual storage units. The property's previous gross revenue was $105,000, with a net income of $35,000. Currently closed and without power, the equipment condition is unknown. This property is situated within the Northern Tazewell County Enterprise Zone, offering potential incentives for commercial development. The asking price is $165,000. This presents a compelling opportunity for investors seeking a prime location for redevelopment or repurposing.

    Property profile
    Verified
    Property type Car washes
    Use group CAR WASH
    Year built 1965
    Total area 3,600 SF
    Lot 0.57 ac (24,829 SF)
    APN 02-02-19-416-017
    UPID US28-1594033
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    First State Bank · 1 yrs held
    First State Bank
    since 2024
    Last sale
    $190,000
    7 recorded transactions
    2024
    2022
    2018
    2017
    $190,000
    2016
    2002
    $75,000
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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