Auto Service - Gas-Conv

Cougar Ridge Car Wash

10215 China Spring Rd, Waco, TX 76708

Listing Price: $1,250,000

Cap Rate
10.03%
Gross SF
5,900
Rentable SF
5,900
Price/Gross SF
$211.86
Rent Per Square Feet
$38.03

Investment Overview


Cougar Ridge Car Wash is a Four Bay, Automatic Mini Tunnel Car Wash located in the emerging market of Waco, Texas. The Property is well situated directly off China Spring Road, enjoying a robust Traffic count of around 15,000 vehicles per day. Cougar Ridge Car Wash benefits from being well-positioned in a dense urban landfill consisting of national and local Tenants, Shopping Centers, Hospitality accommodations as well as Academic Institutions. Major National Tenants in the area include McDonalds, Sonic Drive-in, Dollar General, First National Bank of Central Texas, Ace Hardware, Pizza Hut and many more. The subject property greatly benefits from being less than 10 minutes from Baylor University. Overall, Baylor officially enrolled 19,297 students this fall, with undergraduate enrollment increasing to 14,399 students, although this number will continue to remain steady according to the Universitys strategic enrollment plans. Enrollment in Baylors expanding graduate and professional programs rose 24% to 4,898 students. Included in that total are 2,010 students enrolled in Baylors various online graduate professional education programs. The Subject property is also less than a mile away from the Waco Regional Airport as well as China Spring Intermediate School and China Spring Independent School District.

Cougar Ridge Car Wash was built in 2003 with a unique design to have 4 self service bays as well as a ninety foot Sonnys automatic tunnel with operations of facility designed to be largely hands off. The Seller of the subject property recently renovated the property with complete new self service equipment installed in 2019, new self service credit card readers installed March 2020 and new Sonnys central vacuum system installed April 2019. Owner/ Manager involvement is quite similar to self service only and/or in-bay rollover system. As an Owner/ Manager, Owner normally visits the facility only one day each week. With Sonnys mini-tunnel and self serve bays, a single employee is needed approx. eight or nine hours per day to guide cars onto mini-tunnel, and also perform maintenance and cleaning of facility. Owner can monitor the entire facility and all operations with video surveillance cameras (live feed via cell phone app). Owner can also monitor mini-tunnel operations with Sonny Autopilot Tunnel real time monitoring reports.

Prospective buyer has the opportunity to get into a turn key property that needs minimal capital improvements. Current ownership has a team of car wash employees on site and are willing to stay on for new prospective Buyer. Current owner has set up card reader pay station for the property and has implemented an ability for a membership subscription to the tunnel wash. This is currently the only car wash site in Waco with an automatic wash tunnel and self service bays.

Investment Highlights

  • Tunnel Wash
  • 4 Self Service Bays
  • China Spring Road: 16,318 Vehicles/Day (TxDOT: 2019)

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Cougar Ridge Car Wash

Listing Price: $1,250,000

Cap Rate
10.03%
Gross SF
5,900
Rentable SF
5,900
Price/Gross SF
$211.86
Rent Per Square Feet
$38.03

Investment Highlights

  • Tunnel Wash
  • 4 Self Service Bays
  • China Spring Road: 16,318 Vehicles/Day (TxDOT: 2019)

Investment Overview


Cougar Ridge Car Wash is a Four Bay, Automatic Mini Tunnel Car Wash located in the emerging market of Waco, Texas. The Property is well situated directly off China Spring Road, enjoying a robust Traffic count of around 15,000 vehicles per day. Cougar Ridge Car Wash benefits from being well-positioned in a dense urban landfill consisting of national and local Tenants, Shopping Centers, Hospitality accommodations as well as Academic Institutions. Major National Tenants in the area include McDonalds, Sonic Drive-in, Dollar General, First National Bank of Central Texas, Ace Hardware, Pizza Hut and many more. The subject property greatly benefits from being less than 10 minutes from Baylor University. Overall, Baylor officially enrolled 19,297 students this fall, with undergraduate enrollment increasing to 14,399 students, although this number will continue to remain steady according to the Universitys strategic enrollment plans. Enrollment in Baylors expanding graduate and professional programs rose 24% to 4,898 students. Included in that total are 2,010 students enrolled in Baylors various online graduate professional education programs. The Subject property is also less than a mile away from the Waco Regional Airport as well as China Spring Intermediate School and China Spring Independent School District.

Cougar Ridge Car Wash was built in 2003 with a unique design to have 4 self service bays as well as a ninety foot Sonnys automatic tunnel with operations of facility designed to be largely hands off. The Seller of the subject property recently renovated the property with complete new self service equipment installed in 2019, new self service credit card readers installed March 2020 and new Sonnys central vacuum system installed April 2019. Owner/ Manager involvement is quite similar to self service only and/or in-bay rollover system. As an Owner/ Manager, Owner normally visits the facility only one day each week. With Sonnys mini-tunnel and self serve bays, a single employee is needed approx. eight or nine hours per day to guide cars onto mini-tunnel, and also perform maintenance and cleaning of facility. Owner can monitor the entire facility and all operations with video surveillance cameras (live feed via cell phone app). Owner can also monitor mini-tunnel operations with Sonny Autopilot Tunnel real time monitoring reports.

Prospective buyer has the opportunity to get into a turn key property that needs minimal capital improvements. Current ownership has a team of car wash employees on site and are willing to stay on for new prospective Buyer. Current owner has set up card reader pay station for the property and has implemented an ability for a membership subscription to the tunnel wash. This is currently the only car wash site in Waco with an automatic wash tunnel and self service bays.

Exclusively Listed By

Financing By

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