Operating Car Wash
For Sale
$1,260,000
2124 E 8th St, Odessa, TX 79761
Hard-corner commercial site with dedicated plumbing and access to established city corridors.
Property Size2,705 SF
Lot Size0.46 Acres
Price / SF$465.80
Days on Market68
Property Features for 2124 E 8th St
General Information
Standard status
Active
Size
2,705 SF
Lot size
0.46 Acres
Property subtype
Retail - Freestanding
Additional Details
Road Access
Yes
Building Details
Building Size
2,705 SF
Year Built
2015
Buildings
1
Listing Agency:
Moriah Brokerage Services
(907) 321-3151
Listed By:
Hunter Hickok
Source:
Commercialcafe
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 1:11PM
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 Moriah Brokerage Services
Investment Insights
Based on property information with market context.
This operating car wash property includes a 2,705-square-foot facility on approximately 0.46 acres. Built in 2015, the improvements include plumbing designed to support the car wash system and ongoing facility operations.
The site occupies the southwest corner of East 8th Street and Express Way in Odessa, providing corner positioning and direct access within a commercial setting. Nearby businesses include retail, service, and other commercial uses, while the property connects with major corridors serving the city. The combination of an operating facility, dedicated infrastructure, and visible corner placement supports continued car wash operations.
The site occupies the southwest corner of East 8th Street and Express Way in Odessa, providing corner positioning and direct access within a commercial setting. Nearby businesses include retail, service, and other commercial uses, while the property connects with major corridors serving the city. The combination of an operating facility, dedicated infrastructure, and visible corner placement supports continued car wash operations.
Key Highlights
- Operating car wash facility built in 2015
- 2,705 SF building on approximately 0.46 acres
- Southwest corner of East 8th Street and Express Way
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
$36,225
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
2.88%
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%
$724,500
$724.5K
Cap Rate 7%
$517,500
$517.5K
Cap Rate 9%
$402,500
$402.5K
Market Conditions
NOI Build-Up for 2,705 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
$51.9K $19.20/SF
− Vacancy
−$3.6K −$1.34/SF
EGI
$48.3K $17.86/SF
− OpEx
−$12.1K −$4.46/SF
NOI
$36.2K $13.39/SF
Area
Odessa, TX
Vacancy
7.00%
Lease Rate
$19.20 /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%
$724,500
Cap Rate 7%
$517,500
Cap Rate 9%
$402,500
Alternative Uses
Best Use
Industrial
$2.29M
$2.01M – $2.68M
NOI $160,531 @ 7.0% cap · market cap 12.74%
Second Best
Specialty Retail
$517.5K
$452.8K – $603.8K
NOI $36,225 @ 7.0% cap · market cap 2.88%
Theoretical Best
Flex RnD
$3.93M
$3.44M – $4.59M
NOI $275,272 @ 7.0% cap · market cap 21.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 79761, TX
30,187
Population
13,591
Households
2.2
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
10.4 sq mi
ZIP Area
2,903
Density / Sq Mi
$69,279
Median Household Income
$42,724
Median Earnings
$1,246
Median Rent
$158,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Hard-corner commercial site with dedicated plumbing and access to established city corridors.
Where is this car wash located?
The property is located at 2124 E 8th St Odessa, TX.
What is the asking price?
The asking price for this property is $1,260,000.
What are key features of this property?
This property features: Operating car wash facility built in 2015; 2,705 SF building on approximately 0.46 acres; Southwest corner of East 8th Street and Express Way
