RealSource Group closed the sale of a 2021‑built, single‑tenant Mister Car Wash in Kemah, Texas, part of the Houston metropolitan area.
The property sold for $5,415,000, representing a 5.75% cap rate.
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.
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 5,462‑square‑foot building on 0.99 acres and is secured by a corporate guarantee from Mister Car Wash, Inc. (NASDAQ: MCW), 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. With more than 25 years of experience, the company continues to expand its footprint, adding more than 34 locations over the last year while investing in training, operational infrastructure and customer experience.
RealSource Group, in association with ParaSell, Inc., currently has other Mister Car Wash‑occupied properties on the market in California, Michigan, Florida and Minnesota with more coming soon.
