690 W Spring St, Monroe, GA 30655
- Self service car washes
- 2,070 SF
- 0.63 lot acres
Current Use by Public Records
- The Car Wash of Monroe / Car Wash
Property Details for 690 W Spring St
- Year built
- 1991
- Construction
- STEEL FRAME
- Lot size
- 0.63 lot acres
- Zone code
- B3
- Property type
- Self service car washes
- APN
- M0060-274
- APU
- M0060274
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 10, 2022 | $650,000 | Car Wash Re LLC | Car Wash Of Monroe INC | Warranty Deed | — |
Description
This exceptional investment opportunity presents a thriving car wash business in Monroe, GA. The property boasts six self-service bays and a touch-free automatic wash, generating a strong net operating income (NOI) of $115,989 (annualized based on 2024 year-to-date figures as of August 28, 2024). Located on a 0.63-acre lot at 690 W Spring Street, this Class B building, constructed in 1991, benefits from a highly visible location in a high-traffic area experiencing significant population growth. The property is zoned B2 and features a compelling 9.21% capitalization rate, making it an attractive investment with a solid foundation for long-term profitability. The asking price is $1,260,000, and the property's prime location offers easy access to Monroe's historic downtown. This established business provides a turnkey operation with immediate cash flow potential, making it an ideal addition to any investment portfolio. The property's strong performance and favorable market conditions position it for continued success. The parcel number is M0060274.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $640,000
- ML approach
- $615,000
-
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $450,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Monroe
- County
- Walton
- State
- Georgia
- Longitude
- -83.7227
- Latitude
- 33.795
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
