The City Carwash Self-Service
For Sale
$749,999
4906 Greenwood Dr, Corpus Christi, TX 78416
Self-service car wash facility with an existing building constructed in 2003.
Property Size2,274 SF
Price / SF$329.81
Days on Market18
Property Features for 4906 Greenwood Dr
General Information
Standard status
Active
Size
2,274 SF
Additional Details
Business Included
Yes
Building Details
Year Built
2003
Listing Agency:
RE/MAX ELITE
(361) 910-4154
Listed By:
Johnny Enzo · License #0811903
Source:
Thebranchinc
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 7:15PM
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 ELITE
Investment Insights
Based on property information with market context.
The City Carwash is a self-service car wash property with a 2,274-square-foot building constructed in 2003. The asset is located at 4906 Greenwood Dr in Corpus Christi, Texas 78416.
Key Highlights
- 2,274‑square‑foot self‑service car wash property
- Building constructed in 2003
- Located at 4906 Greenwood Dr, Corpus Christi, TX 78416
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
$29,471
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
3.93%
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%
$589,420
$589.4K
Cap Rate 7%
$421,014
$421.0K
Cap Rate 9%
$327,456
$327.5K
Market Conditions
NOI Build-Up for 2,274 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
$40.9K $18.00/SF
− Vacancy
−$1.6K −$0.72/SF
EGI
$39.3K $17.28/SF
− OpEx
−$9.8K −$4.32/SF
NOI
$29.5K $12.96/SF
Area
Corpus Christi, TX
Vacancy
4.00%
Lease Rate
$18.00 /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%
$589,420
Cap Rate 7%
$421,014
Cap Rate 9%
$327,456
Alternative Uses
Best Use
Specialty Retail
$421.0K
$368.4K – $491.2K
NOI $29,471 @ 7.0% cap · market cap 3.93%
Second Best
Retail
$392.9K
$343.8K – $458.4K
NOI $27,506 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$541.1K
$473.5K – $631.3K
NOI $37,876 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 78416, TX
14,103
Population
5,274
Households
2.7
Avg Household Size
39
Median Age
8%
College-Educated
73%
High-School Grad
3.3 sq mi
ZIP Area
4,274
Density / Sq Mi
$44,726
Median Household Income
$28,611
Median Earnings
$1,066
Median Rent
$93,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self service car wash - Self-service car wash facility with an existing building constructed in 2003.
Where is this self service car wash located?
The property is located at 4906 Greenwood Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: 2,274‑square‑foot self‑service car wash property; Building constructed in 2003; Located at 4906 Greenwood Dr, Corpus Christi, TX 78416
