Self-Service Car Wash with Automatic
New
For Sale
$1,800,000
1380 N 45th Street, Corsicana, TX 75110
The facility combines self-service washing, a laser in-bay automatic, and covered vacuum space.
Property Size5,600 SF
Lot Size0.61 Acres
Price / SF$321.43
Days on Market2
Property Features for 1380 N 45th Street
General Information
Standard status
Active
Size
5,600 SF
Lot size
0.61 Acres
Property subtype
Business
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Amenities
touchless IBA
fully covered vacuum area
Building Details
Year Built
2004
Year Renovated
2022
Listing Agency:
Attlee Realty, LLC
(972) 886-8357
Listed By:
Melissa Croll · License #0560702
(214) 929-3388
Source:
Lonestarluxuryrealty
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:34AM
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 Corsicana car wash includes approximately 5,600 square feet of improvements on a 0.61-acre site. The operation combines self-service wash functions with a touchless laser in-bay automatic, giving the property both customer-operated and automated wash components. A fully covered vacuum area is also part of the site improvements.
Originally constructed in 2004, the facility underwent renovation in 2022. The property is located at 1380 N 45th Street in Corsicana, within a market connected to the Dallas–Houston region by the I-45 corridor. Regional destinations identified in the surrounding area include Navarro College, Corsicana’s historic downtown district, and Richland-Chambers Reservoir.
Originally constructed in 2004, the facility underwent renovation in 2022. The property is located at 1380 N 45th Street in Corsicana, within a market connected to the Dallas–Houston region by the I-45 corridor. Regional destinations identified in the surrounding area include Navarro College, Corsicana’s historic downtown district, and Richland-Chambers Reservoir.
Key Highlights
- Approximately 5,600 SF of improvements on 0.61 acres
- Touchless laser in‑bay automatic car wash
- Self‑service wash operation
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
$99,590
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
5.53%
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%
$1,991,800
$2.0M
Cap Rate 7%
$1,422,714
$1.4M
Cap Rate 9%
$1,106,556
$1.1M
Market Conditions
NOI Build-Up for 5,600 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
$139.8K $24.96/SF
− Vacancy
−$7.0K −$1.25/SF
EGI
$132.8K $23.71/SF
− OpEx
−$33.2K −$5.93/SF
NOI
$99.6K $17.78/SF
Area
Navarro County, TX
Vacancy
5.00%
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%
$1,991,800
Cap Rate 7%
$1,422,714
Cap Rate 9%
$1,106,556
Alternative Uses
Best Use
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,590 @ 7.0% cap · market cap 5.53%
Second Best
Retail
$1.33M
$1.16M – $1.55M
NOI $92,951 @ 7.0% cap · market cap 5.16%
Theoretical Best
Multifamily LT 5
$61.52M
$53.83M – $71.78M
NOI $4,306,530 @ 7.0% cap · market cap 239.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
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?
Self service car wash - The facility combines self-service washing, a laser in-bay automatic, and covered vacuum space.
Where is this self service car wash located?
The property is located at 1380 N 45th Street Corsicana, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Approximately 5,600 SF of improvements on 0.61 acres; Touchless laser in‑bay automatic car wash; Self‑service wash operation
