604 Fairway Dr - Car Washes FOR SALE


Galt, CA 95632
$2,500,000 USD
650-787-1535
604 Fairway Dr, Galt, CA for Sale
$2,500,000 USD
Car Washes - FOR SALE
1/8
null | 11.31% Cap Rate

604 Fairway Dr
Galt, CA 95632


HIGHLIGHTS

  • Value-add upside: active management targets $750K-$850K Year-2 revenue and a 12.0%-15.2% proforma cap
  • Anchored to 2024 adjusted NOI of $282,643 (11.3% cap); soft 2025 reflects passive ownership, not a deficiency
  • Strong demographics: Galt population +30% since 2000, $86,327 median income, 77% homeownership
  • Two-operator tunnel market - Gilly's is the only direct competitor; ~5,000 homes in the residential pipeline
  • Clean fee-simple express tunnel (real estate + business), acquired 2022; SBA 504/7(a) financing available

OVERVIEW

Lee & Associates is pleased to exclusively offer for sale Triple Crown Car Wash, a clean, updated fee-simple express tunnel (with towel-dry) at 604 Fairway Dr in Galt, California, offered at $2,500,000. The offering is anchored to 2024 adjusted NOI of $282,643 - an 11.3% cap rate at the asking price. The softer 2025 result (adjusted NOI $227,413; 9.1% cap) is a floor driven by owner disengagement, passive operations, and minimal marketing - not a physical or structural deficiency. The asset itself is clean and recently updated. VALUE-ADD UPSIDE: Under active management - a recurring membership program, extended hours, and targeted marketing - and supported by roughly 5,000 homes in the local residential pipeline, Year-2 revenue is targeted at $750,000-$850,000 with adjusted NOI of $300,000-$380,000, implying a 12.0%-15.2% proforma cap at the offering price. Comparable well-run California express tunnels generate $750,000-$1,200,000 annually. INVESTMENT HIGHLIGHTS: - Three cap-rate bases: 9.1% (2025 actual), 11.3% (2024 basis), and 12.0%-15.2% (proforma). - Strong, growing demographics: Galt population +30% since 2000, $86,327 median household income, 77% homeownership. - Effectively a two-operator tunnel market; Gilly's Car Wash is the only direct competitor. - Clean, fee-simple express tunnel (real estate + business), acquired 2022; formerly Big Sponge Car Wash. - Blended SBA 504/7(a) financing is the realistic case; the Galt real estate (~$1.7M) anchors the 504 collateral. Returns improve materially on the 2024 basis and proforma. PROPERTY: - 604 Fairway Dr, Galt, CA 95632; fee-simple express tunnel on 0.71 acres. - 2025 revenue $484,112; operating expenses $412,312; adjusted NOI $227,413. Financing assumptions are illustrative; buyers should verify terms with their lender. Proforma figures are estimates and not a guarantee of future performance. Offered subject to a confidentiality agreement.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$665 USD /SF

CAP RATE

11.31%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Triple Crown Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

HC

APN/PARCEL ID

150-0391-037

ASK ABOUT THIS PROPERTY

Alex PeckLee & Associates Commercial Real Estate ServiceMore Info
650-787-1535

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Alex PeckLee & Associates Commercial Real Estate ServiceMore Info
650-787-1535

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.