Car Wash with Studio
New
For Sale
$370,000
1445 W 2nd Avenue, Corsicana, TX 75110
CommercialSale, Corsicana, TX
Property Size1,953 SF
Lot Size0.48 Acres
Price / SF$189.45
Days on Market1
Property Features for 1445 W 2nd Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Corsicana
Directions
SOP GPS Available, from Downtown Corsicana follow W 2nd Ave, Carwash is on the left before the intersection of W 2nd and 24th.
Standard status
Active
APN
33821
Size
1,953 SF
Lot size
0.48 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1987
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Roof type
Metal
Listing Agency:
Keller Williams Lonestar DFW · Keller Williams Realty
(817) 795-2500
Listed By:
Christina Cerda · License #0776357
(903) 467-4579
Added: Sep 22
Last Checked: Sep 22 at 7:06PM
MLS# 21387191
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This car wash property includes operating wash bays, a small studio apartment, and supporting income components from an ice machine and food truck rental. Recent property updates include the car wash control and chemical dispensing system along with the water heater.
Located at 1445 W 2nd Avenue in Corsicana, the property occupies 0.475 acres and contains 1953 square feet of improvements. The 1987 building has brick construction, concrete flooring, a metal roof, and wall-unit cooling. Public water and public sewer serve the site.
Located at 1445 W 2nd Avenue in Corsicana, the property occupies 0.475 acres and contains 1953 square feet of improvements. The 1987 building has brick construction, concrete flooring, a metal roof, and wall-unit cooling. Public water and public sewer serve the site.
Key Highlights
- Operating car wash bays with updated control and chemical dispensing system
- 0.475 acres with 1953 square feet of improvements
- Small studio apartment included on site
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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Open Analytics
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 paired with updated control equipment and a small studio apartment.
Where is this car wash located?
The property is located at 1445 W 2nd Avenue 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 with updated control and chemical dispensing system; 0.475 acres with 1953 square feet of improvements; Small studio apartment included on site
