Self-Service Car Wash
For Sale
$250,000
2407 E Main St, Gatesville, TX 76528
Self-service car wash with six wash bays, four vacuum stations, and built-in hot water plus payment and security systems.
Property Size3,360 SF
Price / SF$74.40
Days on Market56
Property Features for 2407 E Main St
General Information
Standard status
Active
Size
3,360 SF
Additional Details
Business Included
Yes
Road Access
Yes
Listing Agency:
Gold Key Real Estate Group
(254) 535-0663
Listed By:
Alisa Gregory · License #0477922
(254) 535-0663
Source:
Exprealty
Added: Jun 29
Changed: Aug 21
Last Checked: Aug 22 at 9:54AM
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.
This well-maintained self-service car wash facility is configured with six self-service wash bays and four vacuum stations. Two of the wash bays include high-powered blow dryers, and every bay features a foam brush. The equipment room has two tankless, wall-mounted water heaters to supply hot water to the wash bays. The vacuum area is designed for customer comfort and use, with three customer seating benches, a carpet shampoo machine, and a fragrance sprayer that offers three scent options. Additional amenities include a dedicated rear sink area for rinsing towels and cleaning supplies. For operations and security, the property includes security cameras in every wash bay, along with cameras at the front and rear of the facility. Payment options are supported by two bill changers at the front and credit/debit card readers at every wash bay and vacuum station.
The property is centrally located in town with direct road frontage on a major commuter route, supporting strong day-to-day visibility and convenience for customers passing by.
For an owner-operator or investor, the site’s mix of wash-bay and vacuum functionality, along with integrated hot water, payment, and security features, supports a practical, customer-focused car wash operation from day one.
The property is centrally located in town with direct road frontage on a major commuter route, supporting strong day-to-day visibility and convenience for customers passing by.
For an owner-operator or investor, the site’s mix of wash-bay and vacuum functionality, along with integrated hot water, payment, and security features, supports a practical, customer-focused car wash operation from day one.
Key Highlights
- Self‑service car wash with 6 wash bays and 4 vacuum stations
- Hot water provided to wash bays by two tankless wall‑mounted water heaters in the equipment room
- Payment and access features include credit/debit card readers at every wash bay and vacuum station, plus two bill changers at the front
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
8.49%
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 19.54%
Second Best
Retail
$570.9K
$499.6K – $666.1K
NOI $39,965 @ 7.0% cap · market cap 15.99%
Theoretical Best
Office A
$807.0K
$706.2K – $941.6K
NOI $56,493 @ 7.0% cap · market cap 22.60%
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?
Car wash - Self-service car wash with six wash bays, four vacuum stations, and built-in hot water plus payment and security systems.
Where is this 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 $250,000.
What are key features of this property?
This property features: Self‑service car wash with 6 wash bays and 4 vacuum stations; Hot water provided to wash bays by two tankless wall‑mounted water heaters in the equipment room; Payment and access features include credit/debit card readers at every wash bay and vacuum station, plus two bill changers at the front
