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1311 University Ave - Rapid Express Car Wash 4,142 SF Specialty Building Offered at $6,343,800 at a 6% Cap Rate in Georgetown, TX 78628
INVESTMENT HIGHLIGHTS
- 20-Year Sale-Leaseback
- Fixed rental increases throughout the entire lease including options
- Texas has NO STATE INCOME TAX
- Absolute NNN – No landlord management obligations
- This location has been in operation for just over 3 years and is performing extremely well
- High traffic site with excellent visibility
EXECUTIVE SUMMARY
CBRE is pleased to present the exclusive listing for the Rapid Expres Car Wash located at 1311 W. University Ave. in Georgetown, TX. The site consists of 4,142 total square
feet of building space and sits on 1.71 acres of land. The site will be subject to a 20 year sale-leaseback with Rapid Express Car Wash. Starting in year one, the base rent shall
be $380,627. The lease will call for 1.50% annual rental escalations during the base term and throughout the (4) five-year renewal option periods (40 year total term).
The subject property is extremely well located on one of the city’s busiest commercial corridors, offering high visibility, strong traffic counts, and excellent co-tenancy. University Ave (State Hwy 29) is a major east–west arterial that connects downtown Georgetown, I 35, and rapidly growing residential communities, ensuring a steady stream of daily commuters and local drivers. The surrounding trade area features dense residential neighborhoods, retail centers, and service businesses, which generate repeat traffic and align perfectly with the convenience-driven nature of express car washes. Georgetown itself is one of the fastest-growing cities in the Austin metro, with rising household
incomes and multiple-car households that support membership-based wash models.
feet of building space and sits on 1.71 acres of land. The site will be subject to a 20 year sale-leaseback with Rapid Express Car Wash. Starting in year one, the base rent shall
be $380,627. The lease will call for 1.50% annual rental escalations during the base term and throughout the (4) five-year renewal option periods (40 year total term).
The subject property is extremely well located on one of the city’s busiest commercial corridors, offering high visibility, strong traffic counts, and excellent co-tenancy. University Ave (State Hwy 29) is a major east–west arterial that connects downtown Georgetown, I 35, and rapidly growing residential communities, ensuring a steady stream of daily commuters and local drivers. The surrounding trade area features dense residential neighborhoods, retail centers, and service businesses, which generate repeat traffic and align perfectly with the convenience-driven nature of express car washes. Georgetown itself is one of the fastest-growing cities in the Austin metro, with rising household
incomes and multiple-car households that support membership-based wash models.
PROPERTY FACTS
| Price | $6,343,800 | Property Subtype | Car Wash |
| Price Per SF | $1,531.58 | Building Class | B |
| Sale Type | Investment NNN | Lot Size | 1.71 AC |
| Cap Rate | 6% | Building Size | 4,142 SF |
| Sale Condition | Sale Leaseback | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2022 |
| Zoning | CO - Commercial Office | ||
| Price | $6,343,800 |
| Price Per SF | $1,531.58 |
| Sale Type | Investment NNN |
| Cap Rate | 6% |
| Sale Condition | Sale Leaseback |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.71 AC |
| Building Size | 4,142 SF |
| No. Stories | 1 |
| Year Built | 2022 |
| Zoning | CO - Commercial Office |
PROPERTY TAXES
| Parcel Number | R584228 | Improvements Assessment | $2,895,419 |
| Land Assessment | $902,696 | Total Assessment | $3,798,115 |
PROPERTY TAXES
Parcel Number
R584228
Land Assessment
$902,696
Improvements Assessment
$2,895,419
Total Assessment
$3,798,115
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1311 University Ave - Rapid Express Car Wash
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