4-Bay Car
New
For Sale
$365,000
3937 Lee St, Greenville, TX 75401
Established facility with digital payment terminals, wash equipment, vacuums, and security cameras.
Property Size1,900 SF
Price / SF$192.11
Days on Market2
Property Features for 3937 Lee St
General Information
Standard status
Active
Size
1,900 SF
Additional Details
Car Wash Bays
4
Amenities
credit card payment terminals
high pressure hoses
foam brushes
vacuums
air fresheners
change machine
security cameras
Building Details
Year Built
2004
Construction
metal, brick, concrete
Listing Agency:
RE/MAX Landmark Rose
Listed By:
Elaine Fabbri · License #0665897
(214) 457-3676
Source:
Yourdavisteam
Added: Sep 18
Last Checked: Sep 18 at 3:03PM
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 1,900-square-foot car wash was built in 2004 and includes four customer bays within a durable metal, brick, and concrete structure. Each bay has high-pressure hoses and foam brushes, while the facility also provides vacuums, air fresheners, a change machine, and operating instructions. Digital payment terminals support multiple wash, wax, and rinse selections.
The property is located at 3937 Lee St in Greenville, Texas, less than a half mile from downtown. Residential neighborhoods and nearby businesses surround the site, providing an established customer setting. Security cameras are installed throughout the facility.
The property is located at 3937 Lee St in Greenville, Texas, less than a half mile from downtown. Residential neighborhoods and nearby businesses surround the site, providing an established customer setting. Security cameras are installed throughout the facility.
Key Highlights
- Four‑bay car wash with 1,900 square feet
- Built in 2004 with metal, brick, and concrete construction
- Digital payment terminals 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
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Current Use
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
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
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Frequently Asked Questions
What type of property is this?
Car wash - Established facility with digital payment terminals, wash equipment, vacuums, and security cameras.
Where is this car wash located?
The property is located at 3937 Lee St 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 car wash with 1,900 square feet; Built in 2004 with metal, brick, and concrete construction; Digital payment terminals offer wash, wax, and rinse selections
