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33596729
33596728

532 Utah 198, Salem, UT 84653

WM
UT 11797056-cn00
$1,900,000
5 days on market
Updated 3 days ago

532 Utah 198

Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 2,832
Cap Rate 9.77%
NOI $185,684
Occupancy 100%
Tenancy Single
Lease Type Gross
Pro-Forma Cap Rate 11.55%
Pro-Forma NOI $219,470
Class B
Year Built 2003
Acreage 0.410
Investment Type Stabilized
Ground Lease No

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

Listing Contacts

WM
UT 11797056-cn00

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$185,684.00
$15,473.67/mo

Valuation Metrics

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DSCR
9.77%
Cap Rate
9.77%
ROI

Map

Zoning

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C-1 CommercialGeneral CommercialGeneral Commercial
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Last updated Feb 11, 2026 For deeper zoning details, reports are available at Zoneomics

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Additional Information

Name
Winnfort Myles
License
11797056-cn00
Brokerage
The Virtual Realty Group
Brokerage Phone
6017069593
Title
Broker
Brokerage Address
92 Corporate Park
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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