Car Wash Facility with Quick
For Sale
$3,000,000
2614 E Griffin Parkway, Mission, TX 78572
COMMERCIAL - Mission, TX
Property Size11,386 SF
Lot Size1.98 Acres
Price / SF$263.48
Days on Market54
Property Features for 2614 E Griffin Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking
60
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater
Subdivision
Starr Quick Car Spa
Directions
Heading west on Griffin Parkway off Taylor Road property will be on your left.
Standard status
Active
APN
S592200000000100
Size
11,386 SF
Lot size
1.98 Acres
Taxes and HOA fees
Tax Year
2020
Tax Annual Amount
36753
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Amenities
Car Wash station
Quick Lube station
lobby area
office building
Building Details
Year built
2004
Floors in Building
1
Building materials
Brick, Stucco
Roof type
Flat, Tile, Metal
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Jun 30
Changed: Aug 13
Last Checked: Aug 22 at 4:06PM
MLS# 345870
Copyright © 2026 Greater McAllen Association of Realtors. 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 car wash facility includes a car wash station and a quick lube station, along with a large lobby area. The property also features a sizable office building in the back, with its own lobby and multiple office spaces.
Located at 2614 E Griffin Parkway in Mission, Texas, the site is described as being right off 495 between Shary Rd and Taylor Rd, in the heart of Mission. The property is zoned C. The lot measures 1.9805 acres and the property size is 11,386 square feet.
Constructed in 2004, the building materials include brick and stucco. Heating is provided by electric and central systems, and cooling includes central air with electric. An electric water heater is listed, and the property offers an accessible approach with a ramp. The roof is described as flat with tile and metal elements.
Located at 2614 E Griffin Parkway in Mission, Texas, the site is described as being right off 495 between Shary Rd and Taylor Rd, in the heart of Mission. The property is zoned C. The lot measures 1.9805 acres and the property size is 11,386 square feet.
Constructed in 2004, the building materials include brick and stucco. Heating is provided by electric and central systems, and cooling includes central air with electric. An electric water heater is listed, and the property offers an accessible approach with a ramp. The roof is described as flat with tile and metal elements.
Key Highlights
- Car wash station plus quick lube station
- 1.9805‑acre site and 11,386 square feet
- Right off 495 between Shary Rd and Taylor Rd in Mission
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
$190,454
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
6.35%
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%
$3,809,080
$3.8M
Cap Rate 7%
$2,720,771
$2.7M
Cap Rate 9%
$2,116,156
$2.1M
Market Conditions
NOI Build-Up for 11,386 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
$349.8K $30.72/SF
− Vacancy
−$95.8K −$8.42/SF
EGI
$253.9K $22.30/SF
− OpEx
−$63.5K −$5.58/SF
NOI
$190.5K $16.73/SF
Area
Hidalgo County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$3,809,080
Cap Rate 7%
$2,720,771
Cap Rate 9%
$2,116,156
Alternative Uses
Best Use
Office B
$2.72M
$2.38M – $3.17M
NOI $190,454 @ 7.0% cap · market cap 6.35%
Second Best
Specialty Retail
$2.36M
$2.07M – $2.75M
NOI $165,242 @ 7.0% cap · market cap 5.51%
Theoretical Best
Hotel Hospitality
$8.58M
$7.50M – $10.01M
NOI $600,327 @ 7.0% cap · market cap 20.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Car wash facility with quick lube station, a large lobby, and an office building with multiple office spaces.
Where is this car wash located?
The property is located at 2614 E Griffin Parkway Mission, TX.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Car wash station plus quick lube station; 1.9805‑acre site and 11,386 square feet; Right off 495 between Shary Rd and Taylor Rd in Mission
