532 Utah 198
High-Growth Utah Car Wash | 9.8% Cap Rate | 77.2% NOI Margin | Appraised at Asking Price
Marketing description
Utah buyers contact The Virtual Realty Group directly at [email protected] for property info.
All out of Utah State buyers, for property information, contact Danielle Moore, Out-of-State Marketing Agent: Realty Executives Showcase Commercial (586) 354-4433. [email protected]
Salem Car Wash presents an opportunity to acquire a stabilized self-serve and in-bay automatic car wash located on the highly traveled SR-198 corridor in Salem, Utah. The property features three self-serve bays, one touchless in-bay automatic wash, outdoor vacuum stations, and recently upgraded payment systems including a new Dencar pay station with membership capabilities.
The property is offered at $1,900,000 and generates a 9.8% going-in cap rate based on 2025 NOI. Recent improvements include new tap-to-pay readers, instant hot water heaters, laser light show equipment, and upgraded payment technology. Operating 24 hours a day with no employees, the business benefits from a highly efficient operating model and strong cash flow.
The location is positioned to benefit from substantial residential and commercial growth, including the approved Three Bridges Resort Club development, New Salem master-planned community, and Loafer Mountain Parkway improvements. With strong historical revenue growth, a favorable demographic profile, and significant barriers to entry, Salem Car Wash offers investors a compelling combination of current income and future upside.
Utah Listing Broker of Record: Winnfort Myles, The Virtual Realty Group, UT Lic. #1179-7056-
CNOO. All offers are submitted to and negotiated through The Virtual Realty Group.
Investment highlights
9.8% Going-In Cap Rate
11.6% Pro Forma Cap Rate
Appraised at $1.9M (Jan 2026)
77.2% NOI Margin
17.7% Three-Year Revenue CAGR
24/7 Unattended Operation
3 Self-Serve Bays + 1 In-Bay Automatic
New Dencar Pay Station & Tap-to-Pay Readers
Located on SR-198 with 15,000 VPD
Major Growth from Three Bridges Resort & New Salem Developments
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