New Construction Car Wash with Ground
For Sale
$1,910,000
111 Sparta Rd, Belton, TX 76513
WhiteWater Express car wash offered for sale with a 20-year corporate ground lease and annual rent escalations.
Property Size4,000 SF
Lot Size1.59 Acres
Price / SF$477.50
Days on Market56
Property Features for 111 Sparta Rd
General Information
Standard status
Active
Size
4,000 SF
Lot size
1.59 Acres
Property subtype
Car Wash
Occupancy
100%
Financials
Cap Rate
5.5%
Business Included
Yes
Amenities
New 20-Year Ground Lease With 2% Annual Rent Escalations
Strong Visibility on Sparta Road (10,090 VPD) Just Off North Main Street (21,707 VPD)
Regional Retail Corridor Anchored by Walmart Supercenter and H-E-B Plus
New Construction Express Car Wash on 1.59-Acre Site | Q2 2026 Delivery
Expanding Market Along the Austin–Waco Corridor | 78,677 Residents (5-Mile Radius)
Cross Access With Adjacent Take 5 Oil Change | Auto Tenant Synergy
WhiteWater Express Car Wash | 140+ Locations Across Seven States
Building Details
Building Size
4,000 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5209
Listed By:
Jake Stammen · License #License(s): TX: 767420
(972) 755-5209
Source:
Marcusmillichap
Added: Jun 28
Changed: Aug 8
Last Checked: Aug 22 at 3:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Offered for sale is a new construction WhiteWater Express car wash operated under a 20-year corporate ground lease. The property is presented as a stabilized, income-producing automotive asset with 2% annual rent escalations across the base term. The offering includes an initial NOI of $105,000 and is described as providing approximately 49% cumulative rent growth over the base term.
The site is positioned along a dominant retail corridor anchored by Walmart Supercenter and H-E-B Plus. The property benefits from strong traffic counts and consumer draw, supported in the remarks as part of the area’s retail traffic pattern.
For buyers seeking a leased automotive cash-flow property, this car wash structure is geared toward passive investment goals, with lease terms spanning two decades. The ground lease is described as corporate, and the operator is characterized as a rapidly expanding business with a significant presence across Texas and the Sun Belt. This package is therefore best suited for investors evaluating a long-duration, leased car wash with scheduled rent increases within the stated lease framework.
The site is positioned along a dominant retail corridor anchored by Walmart Supercenter and H-E-B Plus. The property benefits from strong traffic counts and consumer draw, supported in the remarks as part of the area’s retail traffic pattern.
For buyers seeking a leased automotive cash-flow property, this car wash structure is geared toward passive investment goals, with lease terms spanning two decades. The ground lease is described as corporate, and the operator is characterized as a rapidly expanding business with a significant presence across Texas and the Sun Belt. This package is therefore best suited for investors evaluating a long-duration, leased car wash with scheduled rent increases within the stated lease framework.
Key Highlights
- New construction WhiteWater Express car wash in Belton, Texas
- 20‑year corporate ground lease with passive income from a single‑operator tenant
- Initial NOI of $105,000 with 2% annual rent escalations
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
$70,762
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
3.70%
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%
$1,415,240
$1.4M
Cap Rate 7%
$1,010,886
$1.0M
Cap Rate 9%
$786,244
$786.2K
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
$99.8K $24.96/SF
− Vacancy
−$5.5K −$1.37/SF
EGI
$94.3K $23.59/SF
− OpEx
−$23.6K −$5.90/SF
NOI
$70.8K $17.69/SF
Area
Bell County, TX
Vacancy
5.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,415,240
Cap Rate 7%
$1,010,886
Cap Rate 9%
$786,244
Alternative Uses
Best Use
Specialty Retail
$1.01M
$884.5K – $1.18M
NOI $70,762 @ 7.0% cap · market cap 3.70%
Second Best
Retail
$774.0K
$677.3K – $903.0K
NOI $54,181 @ 7.0% cap · market cap 2.84%
Theoretical Best
Multifamily LT 5
$44.65M
$39.07M – $52.10M
NOI $3,125,808 @ 7.0% cap · market cap 163.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 76513, TX
43,698
Population
16,004
Households
2.7
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
108.3 sq mi
ZIP Area
403
Density / Sq Mi
$82,366
Median Household Income
$38,428
Median Earnings
$1,216
Median Rent
$260,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - WhiteWater Express car wash offered for sale with a 20-year corporate ground lease and annual rent escalations.
Where is this car wash located?
The property is located at 111 Sparta Rd Belton, TX.
What is the asking price?
The asking price for this property is $1,910,000.
What are key features of this property?
This property features: New construction WhiteWater Express car wash in Belton, Texas; 20‑year corporate ground lease with passive income from a single‑operator tenant; Initial NOI of $105,000 with 2% annual rent escalations
