Car Wash Facility with
For Sale
$249,900
602 N 1st St N, Copperas Cove, TX 76522
Car wash facility located directly on N 1st St, with some new equipment installed since ownership.
Property Size3,020 SF
Price / SF$82.75
Days on Market151
Property Features for 602 N 1st St N
General Information
Standard status
Active
Size
3,020 SF
Building Details
Year Built
2009
Listing Agency:
Keller Williams Realty Lone St
Listed By:
Steve Simmons · License #0511573
(254) 654-0323
Source:
Olverabolton
Added: Apr 11
Changed: Sep 8
Last Checked: Sep 7 at 1:52PM
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 Keller Williams Realty Lone St
Investment Insights
Based on property information with market context.
This car wash facility is located directly on N 1st St. The property includes an automatic tunnel, but it is not operative at this time. Public remarks also indicate that some new equipment has been installed since ownership.
The site is described as being in an area with a heavy residential presence.
The available information focuses on the existing car wash equipment condition, including the non-operational automatic tunnel and recent equipment updates.
The site is described as being in an area with a heavy residential presence.
The available information focuses on the existing car wash equipment condition, including the non-operational automatic tunnel and recent equipment updates.
Key Highlights
- Car wash facility located directly on N 1st St.
- Some new equipment has been installed since ownership.
- Automatic tunnel is not operative at this time.
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
$19,077
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
7.63%
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%
$381,540
$381.5K
Cap Rate 7%
$272,529
$272.5K
Cap Rate 9%
$211,967
$212.0K
Market Conditions
NOI Build-Up for 3,020 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
$29.0K $9.60/SF
− Vacancy
−$1.7K −$0.58/SF
EGI
$27.3K $9.02/SF
− OpEx
−$8.2K −$2.71/SF
NOI
$19.1K $6.32/SF
Area
Coryell County, TX
Vacancy
6.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
30.00%
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%
$381,540
Cap Rate 7%
$272,529
Cap Rate 9%
$211,967
Alternative Uses
Best Use
Specialty Retail
$627.1K
$548.7K – $731.6K
NOI $43,896 @ 7.0% cap · market cap 17.57%
Second Best
Retail
$513.2K
$449.0K – $598.7K
NOI $35,921 @ 7.0% cap · market cap 14.37%
Theoretical Best
Office A
$725.4K
$634.7K – $846.3K
NOI $50,777 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 76522, TX
41,123
Population
17,370
Households
2.4
Avg Household Size
34
Median Age
21%
College-Educated
94%
High-School Grad
115.0 sq mi
ZIP Area
358
Density / Sq Mi
$70,629
Median Household Income
$39,126
Median Earnings
$1,029
Median Rent
$174,000
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 - Car wash facility located directly on N 1st St, with some new equipment installed since ownership.
Where is this car wash located?
The property is located at 602 N 1st St N Copperas Cove, TX.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Car wash facility located directly on N 1st St.; Some new equipment has been installed since ownership.; Automatic tunnel is not operative at this time.
