6-Bay Self-Service Car
For Sale
$240,000
2407 E Main Street, Gatesville, TX 76528
CommercialSale, Gatesville, TX
Property Size3,360 SF
Lot Size0.31 Acres
Price / SF$71.43
Days on Market94
Property Features for 2407 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Coryell County
Lot features
City Lot, Quarter To Half Acre Lot
Directions
At the intersection of Hwy 84 and Hwy 36 going west, after two red lights property will be on the right.
Standard status
Active
APN
111611
Size
3,360 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORYELL COUNTY SUBD, BLOCK 1, LOT 4 S 2/3, ACRES .673
Tax Annual Amount
2907
Legal Description
CORYELL COUNTY SUBD, BLOCK 1, LOT 4 S 2/3, ACRES .673
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
Vacuum stations
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
Building Details
Year built
1976
Floors in Building
1
Flooring type
Concrete
Building materials
Brick, MetalSiding
Roof type
Metal
Listing Agency:
Gold Key Real Estate Group
(254) 865-8779
Listed By:
Alisa Gregory · License #0477922
(254) 535-0663
Added: Jun 28
Changed: Aug 31
Last Checked: Sep 29 at 10:06AM
MLS# 618232
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-service car wash occupies a 3,360-square-foot facility on a 0.312-acre site. The operation includes six wash bays and four vacuum stations, with foam brushes available in each bay and high-powered blow dryers installed in two bays. Two tankless, wall-mounted water heaters supply hot water throughout the wash area.
Customer-support features include three seating benches, a carpet shampoo machine, a fragrance sprayer with three scent selections, and a rear sink for cleaning towels and supplies. Each wash bay and vacuum station has a credit/debit card reader, while two bill changers serve customers at the front. Security cameras monitor every bay along with the front and rear of the property. The building was constructed in 1976 and includes brick and metal siding, concrete flooring, natural gas heat, a metal roof, public water, and public sewer.
Customer-support features include three seating benches, a carpet shampoo machine, a fragrance sprayer with three scent selections, and a rear sink for cleaning towels and supplies. Each wash bay and vacuum station has a credit/debit card reader, while two bill changers serve customers at the front. Security cameras monitor every bay along with the front and rear of the property. The building was constructed in 1976 and includes brick and metal siding, concrete flooring, natural gas heat, a metal roof, public water, and public sewer.
Key Highlights
- Six self‑service wash bays and four vacuum stations
- 3,360 square feet on a 0.312‑acre site
- Two wash bays include high‑powered blow dryers; all bays have foam brushes
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
8.84%
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 20.35%
Second Best
Retail
$570.9K
$499.6K – $666.1K
NOI $39,965 @ 7.0% cap · market cap 16.65%
Theoretical Best
Office A
$807.0K
$706.2K – $941.6K
NOI $56,493 @ 7.0% cap · market cap 23.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - In-town automotive facility with automated payment, wash equipment, vacuum service, and customer convenience features.
Where is this self service car wash located?
The property is located at 2407 E Main Street Gatesville, TX.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Six self‑service wash bays and four vacuum stations; 3,360 square feet on a 0.312‑acre site; Two wash bays include high‑powered blow dryers; all bays have foam brushes
