Four-Bay Self-Service Car
New
For Sale
$365,000
3937 Lee Street, Greenville, TX 75401
Established wash facility with automated payment terminals, multiple wash options, vacuums, and security cameras.
Property Size1,900 SF
Days on Market6
Property Features for 3937 Lee Street
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Commercial
Zoning
Commercial, city limits
Additional Details
Business Included
Yes
Road Access
Yes
Car Wash Bays
4
Amenities
electronic digital credit card payment terminals
high pressure hoses
foam brushes
vacuums
air fresheners
full operating instructions
Change machine
security cameras
Building Details
Building Size
1,900 SF
Year Built
2004
Stories
1
Units
4
Construction
metal, brick and concrete
Listing Agency:
RE/MAX Landmark Rose
(214) 457-3676
Listed By:
Elaine Fabbri · License #0665897
(214) 457-3676
Source:
Fullhouserealtytx
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 RE/MAX Landmark Rose
Investment Insights
Based on property information with market context.
This self-service car wash at 3937 Lee St includes four wash bays and was constructed in 2004. The building uses metal, brick, and concrete construction, with high-pressure hoses, foam brushes, vacuums, air fresheners, and a change machine serving the operation. Digital payment terminals support credit card transactions and provide several wash, wax, and rinse selections. Full operating instructions and security cameras are included.
The property is located less than a half mile from downtown Greenville and is positioned near residential neighborhoods and businesses. The site is offered with the operating equipment and customer-facing systems described above, including payment equipment, wash accessories, and surveillance infrastructure.
The property is located less than a half mile from downtown Greenville and is positioned near residential neighborhoods and businesses. The site is offered with the operating equipment and customer-facing systems described above, including payment equipment, wash accessories, and surveillance infrastructure.
Key Highlights
- Four‑bay self‑service car wash at 3937 Lee St
- Constructed in 2004 with metal, brick, and concrete materials
- Digital terminals accept credit cards and offer wash, wax, and rinse selections
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
$32,721
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
8.96%
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%
$654,420
$654.4K
Cap Rate 7%
$467,443
$467.4K
Cap Rate 9%
$363,567
$363.6K
Market Conditions
NOI Build-Up for 1,900 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
$45.8K $24.12/SF
− Vacancy
−$2.2K −$1.16/SF
EGI
$43.6K $22.96/SF
− OpEx
−$10.9K −$5.74/SF
NOI
$32.7K $17.22/SF
Area
Hunt County, TX
Vacancy
4.80%
Lease Rate
$24.12 /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%
$654,420
Cap Rate 7%
$467,443
Cap Rate 9%
$363,567
Alternative Uses
Best Use
Industrial
$1.89M
$1.65M – $2.20M
NOI $132,157 @ 7.0% cap · market cap 36.21%
Second Best
Specialty Retail
$467.4K
$409.0K – $545.4K
NOI $32,721 @ 7.0% cap · market cap 8.96%
Theoretical Best
—
—
same as Best Use
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
242
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
4,126 visits/mo
0.1 miles
Valero Energy
Shops & Services
1,569 visits/mo
0.1 miles
Demographics for 75401, TX
19,550
Population
9,067
Households
2.2
Avg Household Size
34
Median Age
14%
College-Educated
82%
High-School Grad
108.1 sq mi
ZIP Area
181
Density / Sq Mi
$57,335
Median Household Income
$33,244
Median Earnings
$1,157
Median Rent
$163,100
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 wash facility with automated payment terminals, multiple wash options, vacuums, and security cameras.
Where is this self service car wash located?
The property is located at 3937 Lee Street Greenville, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Four‑bay self‑service car wash at 3937 Lee St; Constructed in 2004 with metal, brick, and concrete materials; Digital terminals accept credit cards and offer wash, wax, and rinse selections
