Self-Service Car Wash
For Sale
$799,900
550 N Judge Ely Boulevard, Abilene, TX 79601
Existing car wash improvements along a major thoroughfare near universities, medical facilities, and expanding commercial development.
Property Size3,036 SF
Price / SF$263.47
Days on Market18
Property Features for 550 N Judge Ely Boulevard
General Information
Standard status
Active
Size
3,036 SF
Building Details
Year Built
1982
Listing Agency:
Tommy Simons (office)
(325) 695-3730
Listed By:
Tommy Simons · License #0583499
Source:
Minteerteam
Added: Aug 14
Changed: Aug 30
Last Checked: Aug 30 at 7:37PM
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 Tommy Simons (office)
Investment Insights
Based on property information with market context.
This self-service car wash property includes 3,036 square feet of improvements constructed in 1982. The site offers an existing automotive-oriented configuration with the possibility of returning to car wash operations or pursuing a different commercial redevelopment concept, subject to applicable approvals.
The property is located at 550 N Judge Ely Boulevard in Abilene, along a major thoroughfare and within minutes of two universities and the Hendrick Medical complex. It is also near the growing 351 Commercial corridor, where new businesses, residential rooftops, and infrastructure are under development. A Bass Pro shop and two major data centers are also identified as nearby or area development projects.
The property is located at 550 N Judge Ely Boulevard in Abilene, along a major thoroughfare and within minutes of two universities and the Hendrick Medical complex. It is also near the growing 351 Commercial corridor, where new businesses, residential rooftops, and infrastructure are under development. A Bass Pro shop and two major data centers are also identified as nearby or area development projects.
Key Highlights
- 3,036‑square‑foot self‑service car wash property
- Improvements constructed in 1982
- Located at 550 N Judge Ely Boulevard, Abilene, TX 79601
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
$30,330
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
3.79%
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%
$606,600
$606.6K
Cap Rate 7%
$433,286
$433.3K
Cap Rate 9%
$337,000
$337.0K
Market Conditions
NOI Build-Up for 3,036 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
$43.7K $14.40/SF
− Vacancy
−$3.3K −$1.08/SF
EGI
$40.4K $13.32/SF
− OpEx
−$10.1K −$3.33/SF
NOI
$30.3K $9.99/SF
Area
Abilene, TX
Vacancy
7.50%
Lease Rate
$14.40 /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%
$606,600
Cap Rate 7%
$433,286
Cap Rate 9%
$337,000
Alternative Uses
Best Use
Specialty Retail
$433.3K
$379.1K – $505.5K
NOI $30,330 @ 7.0% cap · market cap 3.79%
Second Best
Retail
$368.7K
$322.6K – $430.1K
NOI $25,808 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$677.8K
$593.1K – $790.8K
NOI $47,449 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 79601, TX
26,515
Population
9,422
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
84%
High-School Grad
263.0 sq mi
ZIP Area
101
Density / Sq Mi
$54,515
Median Household Income
$24,704
Median Earnings
$988
Median Rent
$182,900
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 - Existing car wash improvements along a major thoroughfare near universities, medical facilities, and expanding commercial development.
Where is this self service car wash located?
The property is located at 550 N Judge Ely Boulevard Abilene, TX.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 3,036‑square‑foot self‑service car wash property; Improvements constructed in 1982; Located at 550 N Judge Ely Boulevard, Abilene, TX 79601
