Six-Bay Self-Service Car
For Sale
$260,000
2407 E Main St, Gatesville, TX 76528
Established automotive facility with card-enabled wash and vacuum services, customer amenities, and on-site security systems.
Property Size3,360 SF
Price / SF$77.38
Days on Market68
Property Features for 2407 E Main St
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Road Access
Yes
Car Wash Bays
6
Amenities
high-powered blow dryers
foam brush
tankless water heaters
customer seating benches
carpet shampoo machine
fragrance sprayer
dedicated sink area
security cameras
bill changers
credit/debit card readers
4 vacuum stations
Building Details
Year Built
1976
Listing Agency:
Gold Key Real Estate Group
(254) 535-0663
Listed By:
Alisa Gregory (254) 865-8779 · License #0477922
Source:
Magnoliarealtywaco
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 10:28AM
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 Gold Key Real Estate Group
Investment Insights
Based on property information with market context.
Located at 2407 E Main Street in Gatesville, Texas, this 3,360-square-foot self-service car wash includes six wash bays and four vacuum stations. Two bays have high-powered blow dryers, while all bays are equipped with foam brushes. Two tankless wall-mounted water heaters supply hot water throughout the wash area.
Customer amenities include three seating benches, a carpet shampoo machine, and a fragrance sprayer with three scent options. A rear sink area supports rinsing towels and cleaning supplies. Each bay and vacuum station has credit/debit card readers, and two bill changers are positioned at the front. Security cameras cover every wash bay along with the front and rear portions of the property. The site fronts a major commuter route and is described as having strong daily traffic.
Customer amenities include three seating benches, a carpet shampoo machine, and a fragrance sprayer with three scent options. A rear sink area supports rinsing towels and cleaning supplies. Each bay and vacuum station has credit/debit card readers, and two bill changers are positioned at the front. Security cameras cover every wash bay along with the front and rear portions of the property. The site fronts a major commuter route and is described as having strong daily traffic.
Key Highlights
- 3,360‑square‑foot self‑service car wash at 2407 E Main Street, Gatesville, TX 76528
- Six self‑service wash bays and four vacuum stations
- Two bays equipped with high‑powered blow dryers; foam brushes in every bay
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
$21,224
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
8.16%
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%
$424,480
$424.5K
Cap Rate 7%
$303,200
$303.2K
Cap Rate 9%
$235,822
$235.8K
Market Conditions
NOI Build-Up for 3,360 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
$32.3K $9.60/SF
− Vacancy
−$1.9K −$0.58/SF
EGI
$30.3K $9.02/SF
− OpEx
−$9.1K −$2.71/SF
NOI
$21.2K $6.32/SF
Area
Coryell County, TX
Vacancy
6.00%
Lease Rate
$9.60 /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%
$424,480
Cap Rate 7%
$303,200
Cap Rate 9%
$235,822
Alternative Uses
Best Use
Specialty Retail
$697.7K
$610.5K – $814.0K
NOI $48,838 @ 7.0% cap · market cap 18.78%
Second Best
Retail
$570.9K
$499.6K – $666.1K
NOI $39,965 @ 7.0% cap · market cap 15.37%
Theoretical Best
Office A
$807.0K
$706.2K – $941.6K
NOI $56,493 @ 7.0% cap · market cap 21.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 76528, TX
18,773
Population
7,311
Households
2.6
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
486.3 sq mi
ZIP Area
39
Density / Sq Mi
$66,989
Median Household Income
$37,705
Median Earnings
$848
Median Rent
$189,900
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?
Self service car wash - Established automotive facility with card-enabled wash and vacuum services, customer amenities, and on-site security systems.
Where is this self service car wash located?
The property is located at 2407 E Main St Gatesville, TX.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 3,360‑square‑foot self‑service car wash at 2407 E Main Street, Gatesville, TX 76528; Six self‑service wash bays and four vacuum stations; Two bays equipped with high‑powered blow dryers; foam brushes in every bay
