Established Car Wash Redevelopment
For Sale
Contact for pricing
4504 E Rancier Ave, Killeen, TX 76543
Busy self-serve car wash with redevelopment potential.
Property Size2,640 SF
Price / SF$140.15
Days on Market1096
Property Features for 4504 E Rancier Ave
General Information
Standard status
Active
Size
2,640 SF
Class
B
Property subtype
Special Purpose, Note/Loan, Business for Sale
Zoning
B-3
Investment Type
Value Add
Building Details
Year Built
1997
Year Renovated
2012
Buildings
2
Stories
1
Units
2
Listing Agency:
Pete & Larry LLC
Listed By:
Rose Durham · License #TX 679442
(254) 718-8604
Source:
Crexi
Added: Sep 6, 2023
Changed: Sep 4
Last Checked: Sep 4 at 6:41AM
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 Pete & Larry LLC
Investment Insights
Based on property information with market context.
This property features a self-service car wash with redevelopment potential, zoned B-3, suitable for various uses including oil change facilities, convenience stores, gas stations, retail spaces, restaurants, and day care centers. The property benefits from high visibility with an exceptional surveillance system and alarm system. The location experiences a traffic volume of 13,511 vehicles per day as of 2023. The property is surrounded by retail establishments such as Dollar General and the EastLake Shopping Center, as well as retirement communities and apartments. The car wash is situated in a location where the nearest competitor is 4.3 miles away. The property size is 2,640 square feet.
Key Highlights
- High‑traffic location with 13,511 vehicles per day (VPD) in 2023.
- Zoned B‑3, allowing for redevelopment into various businesses (oil change, convenience store, gas station, retail, restaurants, day care).
- Established car wash business with no nearby competition (closest car wash is 4.3 miles away).
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
$31,401
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
8.49%
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%
$628,020
$628.0K
Cap Rate 7%
$448,586
$448.6K
Cap Rate 9%
$348,900
$348.9K
Market Conditions
NOI Build-Up for 2,640 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
$47.5K $18.00/SF
− Vacancy
−$2.7K −$1.01/SF
EGI
$44.9K $16.99/SF
− OpEx
−$13.5K −$5.10/SF
NOI
$31.4K $11.89/SF
Area
Killeen, TX
Vacancy
5.60%
Lease Rate
$18.00 /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%
$628,020
Cap Rate 7%
$448,586
Cap Rate 9%
$348,900
Alternative Uses
Best Use
Specialty Retail
$548.2K
$479.7K – $639.5K
NOI $38,372 @ 7.0% cap · market cap 10.37%
Second Best
Retail
$448.6K
$392.5K – $523.4K
NOI $31,401 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$634.1K
$554.8K – $739.8K
NOI $44,387 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 76543, TX
30,545
Population
15,300
Households
2
Avg Household Size
30
Median Age
15%
College-Educated
91%
High-School Grad
35.6 sq mi
ZIP Area
858
Density / Sq Mi
$51,239
Median Household Income
$31,712
Median Earnings
$1,099
Median Rent
$140,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self service car wash - Busy self-serve car wash with redevelopment potential.
Where is this self service car wash located?
The property is located at 4504 E Rancier Ave Killeen, TX.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: High‑traffic location with 13,511 vehicles per day (VPD) in 2023.; Zoned B‑3, allowing for redevelopment into various businesses (oil change, convenience store, gas station, retail, restaurants, day care).; Established car wash business with **no nearby competition** (closest car wash is 4.3 miles away).
