Car Wash With Drive-Around
For Sale
$634,000
10215 China Spring Rd, Waco, TX 76708
Single-story masonry facility with surface parking and circulation around the building.
Property Size3,531 SF
Lot Size0.55 Acres
Price / SF$179.55
Days on Market34
Property Features for 10215 China Spring Rd
General Information
Standard status
Active
Size
3,531 SF
Lot size
0.55 Acres
Zoning
C3
Additional Details
Road Access
Yes
Building Details
Year Built
2004
Buildings
1
Stories
1
Construction
masonry
Listing Agency:
Attlee Realty, LLC
(972) 886-8357
Listed By:
Melissa Croll · License #9004811
Source:
Yourdavisteam
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 29 at 11:50PM
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 car wash property includes a single-story masonry building containing 4,500 SF, along with surface parking and drive-around circulation. The site encompasses 0.55 AC, or 22,216 SF, and carries C3 zoning.
The property fronts China Spring Rd SH1637, with the west boundary along Granada Dr and proximity to Saddle Creek Rd. Surrounding commercial uses include a restaurant, tobacco shop, auto detailing business, and insurance offices. A residential subdivision extends north along Valencia Dr.
The property fronts China Spring Rd SH1637, with the west boundary along Granada Dr and proximity to Saddle Creek Rd. Surrounding commercial uses include a restaurant, tobacco shop, auto detailing business, and insurance offices. A residential subdivision extends north along Valencia Dr.
Key Highlights
- 4,500 SF single‑story masonry building
- 0.55 AC site totaling 22,216 SF
- C3 zoning
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
$47,454
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
7.48%
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%
$949,080
$949.1K
Cap Rate 7%
$677,914
$677.9K
Cap Rate 9%
$527,267
$527.3K
Market Conditions
NOI Build-Up for 3,531 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
$69.9K $19.80/SF
− Vacancy
−$6.6K −$1.88/SF
EGI
$63.3K $17.92/SF
− OpEx
−$15.8K −$4.48/SF
NOI
$47.5K $13.44/SF
Area
Waco, TX
Vacancy
9.50%
Lease Rate
$19.80 /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%
$949,080
Cap Rate 7%
$677,914
Cap Rate 9%
$527,267
Alternative Uses
Best Use
Specialty Retail
$677.9K
$593.2K – $790.9K
NOI $47,454 @ 7.0% cap · market cap 7.48%
Second Best
Retail
$587.8K
$514.3K – $685.8K
NOI $41,146 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$931.6K
$815.1K – $1.09M
NOI $65,211 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
83k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 37%
McDonald's
Dining
16,397 visits/mo
0.0 miles
Dollar General
Shops & Services
15,361 visits/mo
0.0 miles
SONIC Drive In
Dining
10,158 visits/mo
0.3 miles
Bush's Chicken
Dining
9,347 visits/mo
0.1 miles
Dollar Tree
Shops & Services
7,735 visits/mo
0.1 miles
Demographics for 76708, TX
28,499
Population
11,241
Households
2.5
Avg Household Size
35
Median Age
25%
College-Educated
85%
High-School Grad
48.1 sq mi
ZIP Area
592
Density / Sq Mi
$66,764
Median Household Income
$39,409
Median Earnings
$1,087
Median Rent
$204,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Single-story masonry facility with surface parking and circulation around the building.
Where is this car wash located?
The property is located at 10215 China Spring Rd Waco, TX.
What is the asking price?
The asking price for this property is $634,000.
What are key features of this property?
This property features: 4,500 SF single‑story masonry building; 0.55 AC site totaling 22,216 SF; C3 zoning
