506 Orange Grove AvePomona, CA 91768

  • Retail properties
  • 2,713 SF
For Sale
$2,700,000 View listing

Property Details for 506 Orange Grove Ave

Year built
2012
Construction
TILT-UP CONCRETE
Lot size
0.42 AC
Property size (Sq ft)
2,713 SF
Zone code
POC2*
Property type
Retail properties
Property subtype
Other car washes
APN
8340-006-036
APU
8340006036

Description

This exceptional Class A car wash, built in 2012 and extensively renovated in 2024, presents a lucrative investment opportunity. Located at 506 W Orange Grove Ave, Pomona, CA 91768, this 2,817 sq ft facility sits on an 18,080 sq ft lot in a high-traffic area, boasting 141 ft of frontage on Orange Grove Ave and 164 ft of depth. The property features 11 surface parking spaces (3.90 per 1,000 sq ft), ensuring efficient customer flow. Its strategic location at the intersection of White Avenue and West Orange Grove Avenue, near the 10 Freeway, benefits from approximately 15,000 daily vehicles at the intersection and 266,326 daily vehicles on the I-10 freeway. The property's zoning is POC2*, situated in a Tier 2 Transit Oriented Community, and enjoys a Walk Score of 68 ("Very Walkable"). The car wash is 90% automated, with the potential to service 300+ cars daily. The surrounding area has a dense population (170,954 residents within three miles, 365,085 within five miles), many with multiple vehicles, creating a strong customer base. Proximity to Ganesha Park, Hamilton Park, Weber Street Park, and the Downtown Pomona Metrolink Station further enhances its appeal. The asking price is $2,700,000, with an 8.00% cap rate. This is a turnkey operation ready for immediate income generation.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $993,295
    6.5%
    $916,888
    7%
    $851,396
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,159,177
    Geo Method
    $1,316,674
  • Alternative Use

    Use
    Valuation
    Residential
    $773,429
    Hospitality
    $708,457
    Educational
    $589,428
    Medical
    $609,699
    Retail
    $916,888
506 Orange Grove Ave, Pomona, California

Location Insight

City
Pomona
County
Los Angeles
State
California
Latitude
34.0691
Longitude
-117.76
CBSA code
31080
CBSA name
LOS ANGELES-LONG BEACH-ANAHEIM, CA 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
2024
$32,359
$1,270,000
$1,090,000
$2,360,000
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