9105 Martin Way E - Car Washes FOR SALE
Olympia, WA 98516 |
$4,985,000 USD
602-609-3523
9105 Martin Way E
Olympia, WA 98516
HIGHLIGHTS
- This property benefits from dual income streams with revenue generated from the car wash and a leased espresso shop, enhancing cash flow stability
- The property sits on Martin Way E, a major thoroughfare in Lacey, WA benefiting from high visibility and accessibility, drawing significant customer
- The wash has 4 SS bays, and two automatics (updated in 2021) ensuring operational efficiency and reduced maintenance costs
- The multi-bay configuration offers potential for converting additional self-serve bays to automatics, technological upgrades
- The espresso shop lease, under an established coffee brand, BigFoot Java, offers a 5-year initial term with eight 5-year renewal options and 3% annual
- Located in a growing Olympia retail corridor with increasing residential and commercial development
FOR SALE DETAILS
PRICE
$4,985,000 USD
PRICE/SF
$1,141 USD /SF
CAP RATE
11.68%
% LEASED
-
TENANCY
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Lacey Car Wash
PROPERTY TYPE
Specialty
PROPERTY SUBTYPE
Car Washes
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
C
YEAR BUILT
2004
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.85 AC
LAND SF
37,026 SF
ZONING
MHDC
APN/PARCEL ID
11812420501,11812420503
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602-609-3523
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602-609-3523
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