Self-Service Car Wash with Automatic
For Sale
$2,400,000
317 W Princeton Dr, Princeton, TX 75407
Operating wash facility with self-service bays, an automatic wash bay, vending, and dedicated equipment space.
Property Size2,890 SF
Price / SF$830.45
Days on Market37
Property Features for 317 W Princeton Dr
General Information
Standard status
Active
Size
2,890 SF
Additional Details
Car Wash Bays
5
Building Details
Year Built
2001
Listing Agency:
Attlee Realty, LLC
(972) 886-8357
Listed By:
Melissa Croll · License #9004811
Source:
Aboveandbeyondrealty
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 29 at 3:55PM
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 Attlee Realty, LLC
Investment Insights
Based on property information with market context.
This Princeton car wash property was built in 2001 and contains 2,890 square feet of improvements. The facility includes four self-service washing bays, a 30-foot in-bay automatic wash, vending equipment, and a separate equipment room.
The property is located at 317 W Princeton Dr in Princeton, Texas. A month-to-month tenant currently operates the wash business, with the ability to leave upon sale. The existing configuration combines self-service washing capacity with an automatic wash component and supporting vending and equipment areas.
The property is located at 317 W Princeton Dr in Princeton, Texas. A month-to-month tenant currently operates the wash business, with the ability to leave upon sale. The existing configuration combines self-service washing capacity with an automatic wash component and supporting vending and equipment areas.
Key Highlights
- Four self‑service wash bays
- 30‑foot in‑bay automatic wash
- Vending equipment and dedicated equipment room
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
$201,018
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
8.38%
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%
$4,020,360
$4.0M
Cap Rate 7%
$2,871,686
$2.9M
Cap Rate 9%
$2,233,533
$2.2M
Market Conditions
NOI Build-Up for 2,890 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
$318.0K $110.04/SF
− Vacancy
−$30.8K −$10.67/SF
EGI
$287.2K $99.37/SF
− OpEx
−$86.2K −$29.81/SF
NOI
$201.0K $69.56/SF
Area
Collin County, TX
Vacancy
9.70%
Lease Rate
$110.04 /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%
$4,020,360
Cap Rate 7%
$2,871,686
Cap Rate 9%
$2,233,533
Alternative Uses
Best Use
Industrial
$2.87M
$2.51M – $3.35M
NOI $201,018 @ 7.0% cap · market cap 8.38%
Second Best
Specialty Retail
$711.0K
$622.1K – $829.5K
NOI $49,771 @ 7.0% cap · market cap 2.07%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
210k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Superstores 33%
Shops & Services 19%
Electronics 3%
Walmart
Superstores
68,532 visits/mo
0.4 miles
McDonald's
Dining
24,699 visits/mo
0.3 miles
Dollar Tree
Shops & Services
12,361 visits/mo
0.1 miles
Jack in the Box
Dining
11,935 visits/mo
0.4 miles
Starbucks
Dining
11,328 visits/mo
0.4 miles
Demographics for 75407, TX
25,738
Population
10,095
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
49.9 sq mi
ZIP Area
516
Density / Sq Mi
$92,076
Median Household Income
$48,912
Median Earnings
$1,867
Median Rent
$307,500
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?
Self service car wash - Operating wash facility with self-service bays, an automatic wash bay, vending, and dedicated equipment space.
Where is this self service car wash located?
The property is located at 317 W Princeton Dr Princeton, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Four self‑service wash bays; 30‑foot in‑bay automatic wash; Vending equipment and dedicated equipment room
