506 Orange Grove AvePomona, CA 91768

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

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.

• 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

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

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