Flagship Car Wash
For Sale
Contact for pricing
233 Easton Road, Horsham, PA 19044
Established automotive service property with a long-term NNN lease structure and dedicated car wash improvements.
Property Size6,235 SF
Price / SF$1,082
Days on Market136
Property Features for 233 Easton Road
General Information
Standard status
Active
Size
6,235 SF
Property subtype
Retail, Special Purpose
Investment Type
Sale/Leaseback
Net Operating Income
$435,375
Building Details
Year Built
1950
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
James Westerberg · License #NY 10401304686
Source:
Crexi
Added: Apr 16
Changed: Aug 29
Last Checked: Aug 29 at 3:31PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This car wash property includes approximately 6,235 rentable square feet of building area on an estimated 1.63-acre parcel. Constructed in 1950, the facility is identified as a Flagship Carwash and is located at 233 Easton Road in Horsham, Pennsylvania.
The property will be subject to a 20-year Triple Net (NNN) lease beginning at the close of escrow. The lease provides for scheduled annual increases of 1.50%, creating a defined contractual structure for the tenancy. The site combines an established automotive use with a substantial land component and dedicated operating improvements.
The property will be subject to a 20-year Triple Net (NNN) lease beginning at the close of escrow. The lease provides for scheduled annual increases of 1.50%, creating a defined contractual structure for the tenancy. The site combines an established automotive use with a substantial land component and dedicated operating improvements.
Key Highlights
- Approximately 6,235 rentable square feet of building space
- Estimated 1.63‑acre parcel
- 20‑year Triple Net (NNN) lease commencing upon close of escrow
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
$251,051
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
3.72%
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%
$5,021,020
$5.0M
Cap Rate 7%
$3,586,443
$3.6M
Cap Rate 9%
$2,789,456
$2.8M
Market Conditions
NOI Build-Up for 6,235 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
$349.4K $56.04/SF
− Vacancy
−$14.7K −$2.35/SF
EGI
$334.7K $53.69/SF
− OpEx
−$83.7K −$13.42/SF
NOI
$251.1K $40.26/SF
Area
Montgomery County, PA
Vacancy
4.20%
Lease Rate
$56.04 /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%
$5,021,020
Cap Rate 7%
$3,586,443
Cap Rate 9%
$2,789,456
Alternative Uses
Best Use
Specialty Retail
$3.59M
$3.14M – $4.18M
NOI $251,051 @ 7.0% cap · market cap 3.72%
Second Best
Retail
$1.08M
$940.8K – $1.25M
NOI $75,261 @ 7.0% cap · market cap 1.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
75k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 12%
Electronics 2%
Wawa
Shops & Services
50,351 visits/mo
0.2 miles
Sunoco
Shops & Services
10,851 visits/mo
0.5 miles
Dunkin' Donuts
Dining
9,186 visits/mo
0.4 miles
APlus
Shops & Services
2,349 visits/mo
0.5 miles
CPR Cell Phone Repair
Electronics
1,423 visits/mo
0.4 miles
Demographics for 19044, PA
16,273
Population
7,144
Households
2.3
Avg Household Size
39
Median Age
46%
College-Educated
92%
High-School Grad
9.0 sq mi
ZIP Area
1,808
Density / Sq Mi
$96,189
Median Household Income
$49,945
Median Earnings
$1,434
Median Rent
$372,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast 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 - Established automotive service property with a long-term NNN lease structure and dedicated car wash improvements.
Where is this car wash located?
The property is located at 233 Easton Road Horsham, PA.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Approximately 6,235 rentable square feet of building space; Estimated 1.63‑acre parcel; 20‑year Triple Net (NNN) lease commencing upon close of escrow
