Auto Service - Gas-Conv

Charlies Laser Wash

1380 N 45th St, Corsicana, TX 75110

Listing Price: $1,100,000

Cap Rate
11.21%
Gross SF
5,600
Rentable SF
5,600
Price/Gross SF
$196.43
Rent Per Square Feet
$33.44

Investment Overview

Charlies Laser Wash is a four bay, automatic tunnel self-service car wash located in the emerging market of Corsicana, Texas. The property is well situated directly off North 45th street, enjoying a robust traffic count of around 15,000 vehicles per day. Shadowed by Mini-West Self Storage facility, and just down the street from Corsicana High School (the only public high school in Corsicana) and Corsicana Middle School located next door to the High School on 45th Street. In the other direction on 45th Street is a Walmart Supercenter approximately half of a mile away from Charlies Laser Wash. Behind the property sits a 160 unit apartment complex.

Additionally, the City of Corsicana recently announced the purchase of the former Texas Youth Commission property located 0.15 miles to the south of the property on 45th Street. Plans for the property include: Corsicana Fire Department administration offices and training, Emergency Management Offices, apartments, a hotel, memorial, veterans rehab center, 85 garden homes and a State Home museum.

The car wash bays are constructed with concrete block and entail three traditional self-service bays, one over-sized self-service bay, and one pull-through automatic bay with a laser-guided wash system that adjusts automatically for different sized vehicles. In addition, there are six vacuums and a vending machine with Armor All products.

Prospective buyers have the opportunity to get into a turn key property that needs minimal capital improvements. The current owner has a Property Manager on site and is willing to stay on for new prospective Buyer. Recently updated wash tunnel with state of the art automatic brush wash system. These machines have an economic life expectancy of 12 years. The current owner has also set up card reader pay station for the property and has implemented a membership subscription to the automatic wash. This is currently the only car wash site in Corsicana with an automatic wash bay and self service bays.

Investment Highlights

  • Excellent Visibility and Accessibility on North 45th Street
  • Monthly Membership Program
  • Automatic Pay Station
  • Situated Between Corsicana High School and Walmart Supercenter
  • 24.5% Day One Cash on Cash Return
  • Property Manager willing to stay on site

Exclusively Listed By

Auto Service - Gas-Conv

Charlies Laser Wash

Listing Price: $1,100,000

Cap Rate
11.21%
Gross SF
5,600
Rentable SF
5,600
Price/Gross SF
$196.43
Rent Per Square Feet
$33.44

Investment Highlights

  • Excellent Visibility and Accessibility on North 45th Street
  • Monthly Membership Program
  • Automatic Pay Station
  • Situated Between Corsicana High School and Walmart Supercenter
  • 24.5% Day One Cash on Cash Return
  • Property Manager willing to stay on site

Investment Overview

Charlies Laser Wash is a four bay, automatic tunnel self-service car wash located in the emerging market of Corsicana, Texas. The property is well situated directly off North 45th street, enjoying a robust traffic count of around 15,000 vehicles per day. Shadowed by Mini-West Self Storage facility, and just down the street from Corsicana High School (the only public high school in Corsicana) and Corsicana Middle School located next door to the High School on 45th Street. In the other direction on 45th Street is a Walmart Supercenter approximately half of a mile away from Charlies Laser Wash. Behind the property sits a 160 unit apartment complex.

Additionally, the City of Corsicana recently announced the purchase of the former Texas Youth Commission property located 0.15 miles to the south of the property on 45th Street. Plans for the property include: Corsicana Fire Department administration offices and training, Emergency Management Offices, apartments, a hotel, memorial, veterans rehab center, 85 garden homes and a State Home museum.

The car wash bays are constructed with concrete block and entail three traditional self-service bays, one over-sized self-service bay, and one pull-through automatic bay with a laser-guided wash system that adjusts automatically for different sized vehicles. In addition, there are six vacuums and a vending machine with Armor All products.

Prospective buyers have the opportunity to get into a turn key property that needs minimal capital improvements. The current owner has a Property Manager on site and is willing to stay on for new prospective Buyer. Recently updated wash tunnel with state of the art automatic brush wash system. These machines have an economic life expectancy of 12 years. The current owner has also set up card reader pay station for the property and has implemented a membership subscription to the automatic wash. This is currently the only car wash site in Corsicana with an automatic wash bay and self service bays.

Exclusively Listed By

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