2337 Washington Rd, Washington, IL 61571-1853
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.