Express Car Wash
For Sale
Contact for pricing
604 FAIRWAY DR, Galt, CA 95632
Fee-simple express tunnel car wash with towel-dry, recently updated, positioned for continued membership-based operations.
Property Size4,100 SF
Price / SF$439.02
Days on Market95
Property Features for 604 FAIRWAY DR
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Special Purpose
Investment Type
Value Add
Net Operating Income
$227,413
Financials
Cap Rate
15.2%
Business Included
Yes
Building Details
Year Built
2002
Stories
1
Units
1
Listing Agency:
Lee & Associates - Walnut Creek
Listed By:
Tyler Clark · License #CA 01900784
(925) 239-1412
Source:
Crexi
Added: Jun 3
Changed: Aug 21
Last Checked: Sep 4 at 11:53AM
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 Lee & Associates - Walnut Creek
Investment Insights
Based on property information with market context.
Triple Crown Car Wash is a fee-simple express tunnel car wash with towel-dry, presented for sale as a clean, updated operation. The site is described as a recently updated facility and is offered as a fee-simple asset.
The property is located at 604 Fairway Dr in Galt, California. The seller’s materials characterize the market as an express tunnel environment with one direct competitor mentioned, and provide context around local residential growth and demographics.
Financial information provided with the offering includes 2024 adjusted NOI of $282,643, cited as an 11.3% cap rate at the asking price, along with a softer 2025 adjusted NOI of $227,413 (9.1% cap). The remarks attribute the 2025 results to owner disengagement, passive operations, and minimal marketing rather than physical or structural issues. The offering also notes that under active management, a recurring membership program, extended hours, and targeted marketing are expected to support Year-2 revenue of $750,000–$850,000 and adjusted NOI of $300,000–$380,000, described as pro forma. Prospective buyers should treat projections as estimates rather than guarantees, and review operating assumptions as part of their due diligence.
The property is located at 604 Fairway Dr in Galt, California. The seller’s materials characterize the market as an express tunnel environment with one direct competitor mentioned, and provide context around local residential growth and demographics.
Financial information provided with the offering includes 2024 adjusted NOI of $282,643, cited as an 11.3% cap rate at the asking price, along with a softer 2025 adjusted NOI of $227,413 (9.1% cap). The remarks attribute the 2025 results to owner disengagement, passive operations, and minimal marketing rather than physical or structural issues. The offering also notes that under active management, a recurring membership program, extended hours, and targeted marketing are expected to support Year-2 revenue of $750,000–$850,000 and adjusted NOI of $300,000–$380,000, described as pro forma. Prospective buyers should treat projections as estimates rather than guarantees, and review operating assumptions as part of their due diligence.
Key Highlights
- Fee‑simple express tunnel car wash with towel‑dry offered at $2,500,000
- Built in 2002; property described as clean and recently updated
- 2024 adjusted NOI of $282,643 at an 11.3% cap rate (at the asking price)
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
$53,375
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
2.97%
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%
$1,067,500
$1.1M
Cap Rate 7%
$762,500
$762.5K
Cap Rate 9%
$593,056
$593.1K
Market Conditions
NOI Build-Up for 4,100 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
$80.7K $19.68/SF
− Vacancy
−$4.4K −$1.08/SF
EGI
$76.3K $18.60/SF
− OpEx
−$22.9K −$5.58/SF
NOI
$53.4K $13.02/SF
Area
Sacramento County, CA
Vacancy
5.50%
Lease Rate
$19.68 /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%
$1,067,500
Cap Rate 7%
$762,500
Cap Rate 9%
$593,056
Alternative Uses
Best Use
Retail
$762.5K
$667.2K – $889.6K
NOI $53,375 @ 7.0% cap · market cap 2.97%
Second Best
Specialty Retail
$745.2K
$652.1K – $869.4K
NOI $52,166 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$1.09M
$955.7K – $1.27M
NOI $76,458 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 95632, CA
31,470
Population
10,521
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
83%
High-School Grad
113.3 sq mi
ZIP Area
278
Density / Sq Mi
$90,933
Median Household Income
$40,428
Median Earnings
$1,490
Median Rent
$487,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Fee-simple express tunnel car wash with towel-dry, recently updated, positioned for continued membership-based operations.
Where is this car wash located?
The property is located at 604 FAIRWAY DR Galt, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Fee‑simple express tunnel car wash with towel‑dry offered at $2,500,000; Built in 2002; property described as clean and recently updated; 2024 adjusted NOI of $282,643 at an 11.3% cap rate (at the asking price)
