Building Details

Building Size 2,140 SF

Year Built 1991

Listing Agency: T. Custom Realty

Listed By: Fikru S. Tadesse · License #0449502 Show Phone

Source: Nilesrealtygroup

Added: Aug 21 Changed: Oct 1 Last Checked: Oct 5 at 9:23PM

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Investment Insights

Based on property information with market context.

This improved commercial property at 2115 Dairy Road in Garland is classified for car wash use and has an existing Certificate of Occupancy for that purpose. The site is zoned Retail and includes utilities, including gas. Built in 1991, the property occupies a corner lot and offers an existing commercial improvement rather than an unimproved parcel.

The property is positioned across from a school that GISD is building, providing a defined surrounding-use context. Its Retail zoning and existing car wash authorization support continued consideration of the current use, while the available utilities include gas service.

Key Highlights

• Existing Certificate of Occupancy for car wash use
• Retail zoning supports commercial use
• Improved commercial corner lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,854

Cap Rate

8.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$737,080 $737.1K

Cap Rate 7%

$526,486 $526.5K

Cap Rate 9%

$409,489 $409.5K

Market Conditions

NOI Build-Up for 2,140 SF

Gross rent

$51.6K $24.12/SF

− Vacancy

−$2.5K −$1.16/SF

EGI

$49.1K $22.96/SF

− OpEx

−$12.3K −$5.74/SF

NOI

$36.9K $17.22/SF

Area

Garland, TX

Vacancy

4.80%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$737,080

Cap Rate 7%

$526,486

Cap Rate 9%

$409,489

Alternative Uses

Best Use

Specialty Retail

$526.5K

$460.7K – $614.2K (±1% cap)

NOI $36,854 @ 7.0% cap · market cap 8.19%

Second Best

Retail

$491.9K

$430.4K – $573.9K (±1% cap)

NOI $34,434 @ 7.0% cap · market cap 7.65%

Theoretical Best

Office A

$2.57M

$2.25M – $3.00M (±1% cap)

NOI $179,748 @ 7.0% cap · market cap 39.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Car Wash Self ... Car Wash

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Hair Salon Building Supply Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

333

Businesses Nearby

5k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Taco Bueno Dining

5,325 visits/mo 0.5 miles

Demographics for 75041, TX

32,219

Population

10,378

Households

3.1

Avg Household Size

33

Median Age

15%

College-Educated

70%

High-School Grad

7.9 sq mi

ZIP Area

4,078

Density / Sq Mi

$68,692

Median Household Income

$35,027

Median Earnings

$1,368

Median Rent

$214,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this car washes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Car wash - Retail-zoned property with utilities and an existing certificate of occupancy for car wash use.

Where is this car wash located?

The property is located at 2115 Dairy Road Garland, TX.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Existing Certificate of Occupancy for car wash use; Retail zoning supports commercial use; Improved commercial corner lot