Express Carwash on Texoma
For Sale
$1,100,000
5010 Texoma Parkway, Sherman, TX 75090
Express carwash in Sherman, TX, near significant economic development.
Property Size3,600 SF
Lot Size0.06 Acres
Price / SF$407.41
Days on Market151
Property Features for 5010 Texoma Parkway
General Information
Standard status
Active
Size
3,600 SF
Lot size
0.06 Acres
Property subtype
Commercial
Zoning
Carwash
Building Details
Building Size
3,600 SF
Year Built
1998
Stories
1
Units
1
Listing Agency:
Attlee Realty, LLC
(903) 209-5557
Listed By:
Teresa Baudino · License #519899
(903) 209-5557
Source:
Fullhouserealtytx
Added: Mar 26
Changed: Aug 23
Last Checked: Aug 22 at 5:17PM
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 Attlee Realty, LLC
Investment Insights
Based on property information with market context.
This express carwash is situated on 0.5733 acres in Sherman, TX, just north of DFW. The 2,700 sqft building benefits from a daily traffic count of 15,195. All site lighting was upgraded to LED in 2022. The carwash uses an ICS Carwash System. Sherman, Texas, has experienced growth in both population and economic activity. The population increased by 1.8% from 43,273 to 44,052. The mayor has indicated the population could double in the next five to ten years. The average household income within a 1-mile radius is $97,372. Sherman has emerged as a center for the semiconductor industry, attracting substantial investments from companies like GlobiTech and Texas Instruments to construct new facilities, which are projected to generate thousands of new jobs. Additionally, Sherman is located near entertainment projects, including a Margaritaville Resort and a Hard Rock Hotel at Lake Texoma. The property is priced at asset value. It is available for individual sale or as part of a 3-property portfolio with locations in Edmond, OK, and New Braunfels, TX.
Key Highlights
- High Traffic Count: 15,195 vehicles daily
- Located in Sherman, TX, an area experiencing significant population and economic growth
- Proximity to major economic investments, including the semiconductor industry (GlobiTech, Texas Instruments)
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
$48,017
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
4.37%
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%
$960,340
$960.3K
Cap Rate 7%
$685,957
$686.0K
Cap Rate 9%
$533,522
$533.5K
Market Conditions
NOI Build-Up for 2,700 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
$67.4K $24.96/SF
− Vacancy
−$3.4K −$1.25/SF
EGI
$64.0K $23.71/SF
− OpEx
−$16.0K −$5.93/SF
NOI
$48.0K $17.78/SF
Area
Grayson County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$960,340
Cap Rate 7%
$685,957
Cap Rate 9%
$533,522
Alternative Uses
Best Use
Specialty Retail
$686.0K
$600.2K – $800.3K
NOI $48,017 @ 7.0% cap · market cap 4.37%
Second Best
Retail
$640.2K
$560.2K – $746.9K
NOI $44,816 @ 7.0% cap · market cap 4.07%
Theoretical Best
Hotel Hospitality
$1.39M
$1.21M – $1.62M
NOI $96,957 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Explore this area
Business Placement
Demographics for 75090, TX
25,002
Population
9,602
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
84%
High-School Grad
78.5 sq mi
ZIP Area
318
Density / Sq Mi
$58,586
Median Household Income
$36,230
Median Earnings
$1,111
Median Rent
$163,500
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?
Car wash - Express carwash in Sherman, TX, near significant economic development.
Where is this car wash located?
The property is located at 5010 Texoma Parkway Sherman, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High Traffic Count: 15,195 vehicles daily; Located in Sherman, TX, an area experiencing significant population and economic growth; Proximity to major economic investments, including the semiconductor industry (GlobiTech, Texas Instruments)
