The City Carwash
For Sale
$749,999
4906 Greenwood Drive, Corpus Christi, TX 78416
COMMERCIAL - Corpus Christi, TX
Property Size2,274 SF
Lot Size0.29 Acres
Price / SF$329.81
Days on Market369
Property Features for 4906 Greenwood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security
Exterior features
Landscaping
Subdivision
Two Fountains #1
Lot features
Landscaped
Standard status
Active
APN
894800100020
Size
2,274 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
TWO FOUNTAINS #1 BLK 10 LOT 2
Legal Description
TWO FOUNTAINS #1 BLK 10 LOT 2
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2003
Floors in Building
1
Listing Agency:
RE/MAX ELITE
(361) 777-7653
Listed By:
Johnny Enzo · License #0811903
(361) 910-4154
Added: Aug 20, 2025
Changed: Aug 4
Last Checked: Aug 23 at 6:06PM
MLS# 463788
Copyright © 2026 South Texas Multiple Listing Service, LLC. 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.
The City Carwash is a car wash property comprising 2,274 square feet on a 0.29-acre site. The building was constructed in 2003 and includes landscaped exterior features. Public water and public sewer service are in place.
Located at 4906 Greenwood Drive in Corpus Christi, Texas, the property is identified within Nueces County and carries the 78416 ZIP Code. Its established car wash use, building area, and existing public utilities provide a clear physical profile for commercial evaluation.
Located at 4906 Greenwood Drive in Corpus Christi, Texas, the property is identified within Nueces County and carries the 78416 ZIP Code. Its established car wash use, building area, and existing public utilities provide a clear physical profile for commercial evaluation.
Key Highlights
- 2,274‑square‑foot car wash property
- 0.29‑acre site
- Constructed in 2003
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?
Car wash - The property includes public water and sewer service along with landscaped exterior areas.
Where is this car wash located?
The property is located at 4906 Greenwood Drive 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 car wash property; 0.29‑acre site; Constructed in 2003
