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    Property profile & analytics

    690 W Spring St Monroe, GA 30655

    • Self service car washes
    • 2,070 SF
    • 0.63 lot acres
    For Sale
    View listing
    $980,823
    Value Estimation
    Last Sale
    Jun 10, 2022
    $650,000
    Location Intelligence
    Property ID
    US22-1211654
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Car Wash of Monroe / Self Service Car Wash / Car Wash

    Property Details for 690 W Spring St

    Year built
    1991
    Construction
    STEEL FRAME
    Lot size
    0.63 lot acres
    Property size
    2,070 SF
    Zone code
    B3
    Property type
    Self service car washes
    APN
    M0060-274
    APU
    M0060274

    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 Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $640,000

    • CAP approach

      CAP return
      Estimation
      6%
      $665,000
      6.5%
      $690,000
      7%
      $695,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $630,000
      Geo Method
      $780,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $605,000
      Retail
      $780,000
      Mixed-Use
      $635,000
      Hospitality
      $620,000
      Educational
      $715,000
      Residential Income
      $620,000
      Energy
      $745,000
      Income-Based Land
      $705,000
      Food Service
      $625,000

    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

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,268
    $49,360
    $44,120
    $93,480
    -
    $123,400
    $110,300
    $233,700

    Comparable in this City

    • Value Estimation
      $3,725,000
      3,138 SF

      170 Martin Luther King Jr Blvd

      CAR WASH - AUTOMATED • 3,138 SF
      170 Martin Luther King Jr Blvd, Monroe, GA 30655-5620
      View Details
    • Value Estimation by Request
      3,097 SF

      170 M.l.k. Jr Blvd

      Automotive properties • 3,097 SF
      170 M.l.k. Jr Blvd, Monroe, GA 30655
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    • Value Estimation by Request
      952 SF

      606 Spg St

      AUTO REPAIR, GARAGE • 952 SF
      606 Spg St, Monroe, GA 30655-2310
      View Details
    • Value Estimation
      $345,000
      1,800 SF

      517 Madison Ave

      AUTO REPAIR, GARAGE • 1,800 SF
      517 Madison Ave, Monroe, GA 30655-2779
      View Details
    • Value Estimation
      $410,000
      6,000 SF

      409 Mayfield Dr

      AUTO REPAIR, GARAGE • 6,000 SF
      409 Mayfield Dr, Monroe, GA 30655-1705
      View Details
    • Value Estimation
      $405,000
      4,000 SF

      941 Monroe Jersey Rd

      AUTO REPAIR, GARAGE • 4,000 SF
      941 Monroe Jersey Rd, Monroe, GA 30655-5983
      View Details

    Similar Nearby for Sale

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      Monroe Car Wash Investment Opportunity

      Turn-key car wash in growing Monroe, GA with strong NOI.
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    Similar Nearby for Lease

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    • New
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    690 W Spring St
    Monroe, GA 30655
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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