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4/21/26
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A SoCal-based investment entity paid $5.4 mil for a single tenant Mister Car Wash in Kemah, part of the Houston metropolitan area. The property, built in 2021, traded at a 5.75% cap rate.
The Mister Car Wash is located at 312 FM Road 518 East in Kemah, a well traveled east–west connector that provides direct access to surrounding retail, new residential development and the Kemah Boardwalk, a major regional attraction. The property also benefits from its proximity to Highway 146, the primary north–south arterial through the area and one of the region’s busiest corridors.
The property includes a 5.5k sf building on 0.99 acres and is secured by a corporate guarantee from Mister Car Wash Inc, the largest car wash operator in the United States, according to Schiffer. Mister Car Wash, headquartered in Tucson, Arizona, operates more than 550 locations nationwide and manages the largest car-wash subscription program in North America.
RealSource Group’s Austin Blodgett, Senior Vice President of Investment Sales, and Jonathan Schiffer, CCIM, Senior Associate, in association with ParaSell Inc, represented the seller, a private investor based in Houston. The buyer, a Southern California-based, bonus depreciation motivated group, was represented by Chase Cameron, Senior Associate with Matthews in Dallas.
“This property offered investors an attractive combination of 100% bonus depreciation and a long term corporate lease, which continues to drive strong demand in the express car wash sector,” said Schiffer. “Even with the recent spike in the 10 year Treasury and volatile interest rates over the last month, cap rates for bonus depreciation eligible assets are still compressing because the buyer pool remains deep and motivated.”
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