Improved Corner-Lot Car
New
For Sale
$450,000
2115 Dairy Road, Garland, TX 75041
Retail-zoned property with utilities and an existing certificate of occupancy for car wash use.
Property Size2,140 SF
Days on Market2
Property Features for 2115 Dairy Road
General Information
Standard status
Active
Size
2,140 SF
Property subtype
Retail
Zoning
Retail
Land
Land Use
commercial
Entitled
Yes
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,390
Building Details
Building Size
2,140 SF
Year Built
1991
Listing Agency:
T. Custom Realty
(214) 660-7222
Listed By:
Fikru S. Tadesse · License #0449502
Source:
Nilesrealtygroup
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:23AM
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 T. Custom Realty
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.
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 = 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
$36,854
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
8.19%
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%
$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
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
$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 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%
$737,080
Cap Rate 7%
$526,486
Cap Rate 9%
$409,489
Alternative Uses
Best Use
Specialty Retail
$526.5K
$460.7K – $614.2K
NOI $36,854 @ 7.0% cap · market cap 8.19%
Second Best
Retail
$491.9K
$430.4K – $573.9K
NOI $34,434 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,748 @ 7.0% cap · market cap 39.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
