6-Bay Self-Service Car
For Sale
$350,000
923 W Business Hwy 83, Mission, TX 78572
Commercial Sale, Mission, TX
Property Size4,000 SF
Lot Size0.46 Acres
Price / SF$87.50
Days on Market277
Property Features for 923 W Business Hwy 83
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3
Parking
1
Appliances
Water Heater (None)
Subdivision
Eagle Heights
Directions
Exit Interstate Hwy 2 go East on Bus 83, Located on NE corner of Bus 83 & Jones Ave.
Standard status
Active
APN
E010001001000001
Size
4,000 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3781
Amenities
enclosed equipment room
vacuum bays
Building Details
Year built
1977
Building materials
Block
Roof type
Metal
Listing Agency:
Cohrs Realty Group
(956) 464-7355
Listed By:
Jonathan W. Cohrs
(956) 330-1878
Added: Dec 15, 2025
Changed: Aug 19
Last Checked: Sep 18 at 8:06AM
MLS# 488864
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-service car wash includes six wash bays and an enclosed equipment room. Vacuum bays are positioned behind the main wash area, supporting the property's existing automotive service configuration. The improvements contain approximately 4,000 square feet on a 0.4647-acre site, with block construction and a metal roof.
Built in 1977, the property is located at 923 W Business Hwy 83 in Mission, Texas. C3 zoning applies to the site. The facility's coin-operated format and dedicated wash and vacuum areas define its current commercial use.
Built in 1977, the property is located at 923 W Business Hwy 83 in Mission, Texas. C3 zoning applies to the site. The facility's coin-operated format and dedicated wash and vacuum areas define its current commercial use.
Key Highlights
- Six‑bay coin‑operated car wash
- Enclosed equipment room with vacuum bays behind the wash area
- Approximately 4,000 square feet of improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,049
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$420,980
$421.0K
Cap Rate 7%
$300,700
$300.7K
Cap Rate 9%
$233,878
$233.9K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.2K $8.04/SF
− Vacancy
−$2.1K −$0.52/SF
EGI
$30.1K $7.52/SF
− OpEx
−$9.0K −$2.26/SF
NOI
$21.0K $5.26/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$420,980
Cap Rate 7%
$300,700
Cap Rate 9%
$233,878
Alternative Uses
Best Use
Specialty Retail
$829.3K
$725.6K – $967.5K
NOI $58,051 @ 7.0% cap · market cap 16.59%
Second Best
Retail
$771.6K
$675.1K – $900.2K
NOI $54,009 @ 7.0% cap · market cap 15.43%
Theoretical Best
Hotel Hospitality
$3.01M
$2.64M – $3.52M
NOI $210,900 @ 7.0% cap · market cap 60.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Self service car wash - Coin-operated wash facility with an enclosed equipment room and vacuum bays.
Where is this self service car wash located?
The property is located at 923 W Business Hwy 83 Mission, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Six‑bay coin‑operated car wash; Enclosed equipment room with vacuum bays behind the wash area; Approximately 4,000 square feet of improvements
