Car Wash with Updated
New
For Sale
$370,000
1445 W 2nd Ave, Corsicana, TX 75110
Operating wash bays are complemented by a studio apartment and rental income from an ice machine and food truck.
Property Size1,953 SF
Price / SF$189.45
Days on Market1
Property Features for 1445 W 2nd Ave
General Information
Standard status
Active
Size
1,953 SF
Additional Details
Road Access
Yes
Amenities
studio apartment
ice machine
Building Details
Year Built
1987
Listing Agency:
Keller Williams Lonestar DFW
Listed By:
Christina Cerda · License #0776357
(817) 795-2500
Source:
Brickstreetrealtygroup
Added: Sep 24
Last Checked: Sep 24 at 2:16PM
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 Keller Williams Lonestar DFW
Investment Insights
Based on property information with market context.
Built in 1987, this car wash includes operating wash bays and a studio apartment. Its revenue sources also include ice machine and food truck rentals. The car wash control and chemical dispensing system, along with the water heater, have been updated.
The property is located at 1445 W 2nd Ave in Corsicana, Texas.
The property is located at 1445 W 2nd Ave in Corsicana, Texas.
Key Highlights
- Operating car wash bays
- Studio apartment on site
- Ice machine and food truck rental income
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
$32,417
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
8.76%
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%
$648,340
$648.3K
Cap Rate 7%
$463,100
$463.1K
Cap Rate 9%
$360,189
$360.2K
Market Conditions
NOI Build-Up for 1,953 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
$48.7K $24.96/SF
− Vacancy
−$2.4K −$1.25/SF
EGI
$46.3K $23.71/SF
− OpEx
−$13.9K −$7.11/SF
NOI
$32.4K $16.60/SF
Area
Navarro County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$648,340
Cap Rate 7%
$463,100
Cap Rate 9%
$360,189
Alternative Uses
Best Use
Specialty Retail
$496.2K
$434.2K – $578.9K
NOI $34,732 @ 7.0% cap · market cap 9.39%
Second Best
Retail
$463.1K
$405.2K – $540.3K
NOI $32,417 @ 7.0% cap · market cap 8.76%
Theoretical Best
Multifamily LT 5
$21.46M
$18.77M – $25.03M
NOI $1,501,902 @ 7.0% cap · market cap 405.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
695
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Operating wash bays are complemented by a studio apartment and rental income from an ice machine and food truck.
Where is this car wash located?
The property is located at 1445 W 2nd Ave Corsicana, TX.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Operating car wash bays; Studio apartment on site; Ice machine and food truck rental income
