Sparta Self-Storage, Professional building and Car Wash

Retail-Commercial for Sale
Catylist Listing ID: 30126539
Property Subtypes: Car Wash, Free-Standing Building, Mixed Use, Restaurant, Vehicle Related, Other
Building Size (RSF): 8,280 SF
Gross Land Area: 52,000 SF
Sale Price: $885,000
Unit Price: $106.88 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/30/2018

Overview / Comments

Sparta Self-Storage, Professional Building and Car Wash

This business/property consists of three components and sits on a Parcel of land that is approximately 130’ x 400’ and occupies a busy stop light corner at S. State Street (the main North/ South street in Sparta, Mi.) and E. Spartan Dr. It has three possible addresses on S. State Street – 500 – 510 – 520.

1.) The first component is an investment property that consists of 52 self storage units with three different sizes. These units have been consistently full and under constant demand due to their "in town" location.
The sizes are:
24 – 5’ x 10’ units
11 – 10’ x 10’ units
17 - 10’ x 20’ units

2.) The 2nd component is also best defined as a investment property and is a commercial building that sits directly on the stop light corner of S. State St. and E. Spartan Dr. . It is a great Restaurant location or Professional/Commercial Building location that is nestled directly between two primary Sparta schools. There are many options for this prime corner location. For the last 11 years it has been rented to Maria’s Pizza.

3.) The 3rd component of this business is the Sparta Car Wash, It consists of one 90 foot conveyor belt driven soft cloth wash with 5 dryers. In conjunction with this there are five self-help wash bays (quarter car washes) as well as three outside vacuum centers .

Note that the financial statements included with this summary do not reflect a completely accurate picture of the operations and would in fact, have to be recast to more accurately reflect the financial performance of this business. We can demonstrate specific examples of why this is so.

We are open to discussing values and listening to any serious buyers input.

This car wash is a good, stable local business in Sparta, Michigan with a long history and very little local competition. The two included investment properties are constantly full and give great underlining effortless cash flow to the overall operation. Frankly, all components are candidates for operational tweaks and consistency that could immediately make a major positive impact on the bottom line and overall financial performance. Every piece of this package also has the great advantage of Location,Location,Location! This is a great opportunity for the right person.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Tax ID/APN: 721210
Property Visibility: Excellent
Largest Nearby Street: S. State St.
Feet of Frontage: 130
Airports: Sparta - Kent County International
Tenancy: Single Tenant
Lot Frontage: 130
Lot Depth: 400
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,128 9,110 21,413
Median Age: 34.59 35.72 38.05
Households: 1,235 3,424 7,769


Photograph of Listing Agent

Steve Maghielse

Maghielse And Company
Not a member of CARWM
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