Express Self-Serve Car
For Sale
Contact for pricing
516 Friendship Ln, Fredericksburg, TX 78624
Owner-user express car wash for sale in Fredericksburg, TX, near new Chick-fil-A and Discount Tire.
Property Size3,649 SF
Price / SF$548.10
Days on Market98
Property Features for 516 Friendship Ln
General Information
Standard status
Active
Size
3,649 SF
Property subtype
Special Purpose
Zoning
Commercial / Special Purpose
Investment Type
Owner/User
Building Details
Year Built
2015
Listing Agency:
Matthews
Listed By:
Landon Carter · License #TN 365272
Source:
Crexi
Added: Jun 1
Changed: Aug 28
Last Checked: Sep 5 at 10:40PM
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 Matthews
Investment Insights
Based on property information with market context.
Wet-N-Jet Car Wash presents an owner-user opportunity to acquire an express wash facility. The property is listed for sale at approximately 3,649 square feet and is positioned as a self-service, automotive-focused operation.
Public remarks note the site is in a growing area, with a brand new Chick-fil-A and Discount Tire across the street. The same remarks also describe a new bank planned for development next door, alongside additional commercial and residential development in the vicinity.
Public remarks note the site is in a growing area, with a brand new Chick-fil-A and Discount Tire across the street. The same remarks also describe a new bank planned for development next door, alongside additional commercial and residential development in the vicinity.
Key Highlights
- Wet‑N‑Jet express car wash (owner‑user opportunity) built in 2015
- Growing‑area setting with a brand new Chick‑fil‑A and Discount Tire across the street
- New bank planned next door, with multiple other commercial and residential developments in the area
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
$66,024
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
3.30%
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%
$1,320,480
$1.3M
Cap Rate 7%
$943,200
$943.2K
Cap Rate 9%
$733,600
$733.6K
Market Conditions
NOI Build-Up for 3,649 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
$91.2K $25.00/SF
− Vacancy
−$3.2K −$0.88/SF
EGI
$88.0K $24.13/SF
− OpEx
−$22.0K −$6.03/SF
NOI
$66.0K $18.09/SF
Area
Gillespie County, TX
Vacancy
3.50%
Lease Rate
$25.00 /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%
$1,320,480
Cap Rate 7%
$943,200
Cap Rate 9%
$733,600
Alternative Uses
Best Use
Specialty Retail
$943.2K
$825.3K – $1.10M
NOI $66,024 @ 7.0% cap · market cap 3.30%
Second Best
Retail
$773.8K
$677.1K – $902.8K
NOI $54,168 @ 7.0% cap · market cap 2.71%
Theoretical Best
Hotel Hospitality
$2.76M
$2.42M – $3.22M
NOI $193,433 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
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?
Self service car wash - Owner-user express car wash for sale in Fredericksburg, TX, near new Chick-fil-A and Discount Tire.
Where is this self service car wash located?
The property is located at 516 Friendship Ln Fredericksburg, TX.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Wet‑N‑Jet express car wash (owner‑user opportunity) built in 2015; Growing‑area setting with a brand new Chick‑fil‑A and Discount Tire across the street; New bank planned next door, with multiple other commercial and residential developments in the area
