Car Wash with Updated
1445 W 2nd Ave, Corsicana, TX 75110
For Sale
$370,000
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 Market47
Property Features for 1445 W 2nd Ave
General Information
Standard status
Size
Additional Details
Road Access
Amenities
studio apartment
ice machine
Building Details
Year Built
Listing Agency:
Keller Williams Lonestar DFW
Listed By:
Christina Cerda · License TX #0776357
(903) 467-4579
Source:
Brickstreetrealtygroup
Added: Sep 24
Changed: Oct 26
Last Checked: Oct 7 at 4:49PM
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
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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 / Yr
$32,417
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
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
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 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
Office A
$687.0K
$601.1K – $801.5K
NOI $48,091 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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
