506 Orange Grove AvePomona, CA 91768
- Retail properties
- 2,713 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].