615 Ray Rd Gilbert, AZ 85233-8408
- Car washes
- 4,306 SF
- 1.73 lot acres
Current Use by Public Records
- P1 PPF Protection and Tint / Car Detailing Service / Window Tinting Service
- Frankie's Car Wash / Car Wash
Property Details for 615 Ray Rd
- Year built
- 2004
- Construction
- STEEL FRAME
- Lot size
- 1.73 lot acres
- Property size
- 4,306 SF
- Zone code
- SC
- Property type
- Car washes
- APN
- 302-83-962
- APU
- 30283962
Description
This exceptional turnkey car wash business, located at 615 W Ray Rd in Gilbert, Arizona (Maricopa County, zip code 85233), presents a rare investment opportunity. Built in 2004 and extensively renovated in 2023 with approximately $600,000 in improvements, the property boasts a 2.98-acre lot (APN 302-83-962). Priced significantly below current replacement costs for similar car wash construction and development, this single-tenancy retail property offers substantial value. The business benefits from multiple revenue streams, including detail and window tint services operating on month-to-month leases, providing flexible lease terms and future upside potential. The affluent Gilbert market is experiencing robust growth, with projected population increases of 7.50% within a 1- and 3-mile radius over the next five years. Local household income averages $129,000 annually within a one-mile radius, indicating a strong and stable customer base. This is a truly exceptional opportunity to acquire a well-established, high-performing car wash in a thriving market. The asking price is $2,400,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,410,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,560,000
- 6.5%
- $1,805,000
- 7%
- $1,560,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,930,000
- Geo Method
- $1,640,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,025,000
- Retail
- $1,520,000
- Mixed-Use
- $1,895,000
- Hospitality
- $1,655,000
- Educational
- $1,585,000
- Residential Income
- $1,495,000
- Energy
- $1,660,000
- Income-Based Land
- $1,915,000
- Food Service
- $1,525,000
Location Insight
- Map
- Local Demand
- City
- Gilbert
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.803
- Latitude
- 33.3201
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
