Express Carwash With LED
For Sale
$1,100,000
5010 Texoma Pkwy, Sherman, TX 75090
The property includes an ICS Carwash System and site lighting upgraded to LED in 2022.
Property Size3,600 SF
Price / SF$305.56
Days on Market28
Property Features for 5010 Texoma Pkwy
General Information
Standard status
Active
Size
3,600 SF
Building Details
Year Built
1998
Listing Agency:
Attlee Realty, LLC
(972) 886-8357
Listed By:
Teresa Baudino · License #519899
Source:
Minteerteam
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 25 at 5:34AM
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 property includes a 2,700-square-foot building on approximately 0.05733 acres. The improvements feature an ICS Carwash System, and the site lighting was converted to LED in 2022. Originally built in 1998, the property is currently not operating.
Located at 5010 Texoma Pkwy in Sherman, Texas, the site records a daily traffic count of 15,195. The property is offered individually or as part of a two-property portfolio that includes a New Braunfels, Texas site.
Located at 5010 Texoma Pkwy in Sherman, Texas, the site records a daily traffic count of 15,195. The property is offered individually or as part of a two-property portfolio that includes a New Braunfels, Texas site.
Key Highlights
- 2,700‑square‑foot building on approximately 0.05733 acres
- ICS Carwash System included
- Site lighting upgraded to LED in 2022
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
$64,022
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
5.82%
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%
$1,280,440
$1.3M
Cap Rate 7%
$914,600
$914.6K
Cap Rate 9%
$711,356
$711.4K
Market Conditions
NOI Build-Up for 3,600 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
$89.9K $24.96/SF
− Vacancy
−$4.5K −$1.25/SF
EGI
$85.4K $23.71/SF
− OpEx
−$21.3K −$5.93/SF
NOI
$64.0K $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%
$1,280,440
Cap Rate 7%
$914,600
Cap Rate 9%
$711,356
Alternative Uses
Best Use
Specialty Retail
$914.6K
$800.3K – $1.07M
NOI $64,022 @ 7.0% cap · market cap 5.82%
Second Best
Retail
$853.6K
$746.9K – $995.9K
NOI $59,754 @ 7.0% cap · market cap 5.43%
Theoretical Best
Hotel Hospitality
$1.85M
$1.62M – $2.15M
NOI $129,276 @ 7.0% cap · market cap 11.75%
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 - The property includes an ICS Carwash System and site lighting upgraded to LED in 2022.
Where is this car wash located?
The property is located at 5010 Texoma Pkwy 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: 2,700‑square‑foot building on approximately 0.05733 acres; ICS Carwash System included; Site lighting upgraded to LED in 2022
