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604 Fairway Dr
Galt, CA 95632
Triple Crown Car Wash · Specialty Property For Sale
·
3,760 SF
Investment Highlights
- Value-add upside: active management targets $750K-$850K Year-2 revenue and a 12.0%-15.2% proforma cap
- Strong demographics: Galt population +30% since 2000, $86,327 median income, 77% homeownership
- Clean fee-simple express tunnel (real estate + business), acquired 2022; SBA 504/7(a) financing available
- Anchored to 2024 adjusted NOI of $282,643 (11.3% cap); soft 2025 reflects passive ownership, not a deficiency
- Two-operator tunnel market - Gilly's is the only direct competitor; ~5,000 homes in the residential pipeline
Executive Summary
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.
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.
Property Facts
| Sale Type | Investment | Lot Size | 0.71 AC |
| Cap Rate | 11.31% | Building Size | 3,760 SF |
| Property Type | Specialty | No. Stories | 1 |
| Property Subtype | Car Wash | Year Built/Renovated | 2000/2006 |
| Building Class | B | Parking Ratio | 4.79/1,000 SF |
| Zoning | HC - Highway Commercial | ||
| Sale Type | Investment |
| Cap Rate | 11.31% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.71 AC |
| Building Size | 3,760 SF |
| No. Stories | 1 |
| Year Built/Renovated | 2000/2006 |
| Parking Ratio | 4.79/1,000 SF |
| Zoning | HC - Highway Commercial |
Property Taxes
| Parcel Number | 150-0391-037 | Improvements Assessment | $1,296,418 CAD |
| Land Assessment | $720,232 CAD | Total Assessment | $2,016,651 CAD |
Property Taxes
Parcel Number
150-0391-037
Land Assessment
$720,232 CAD
Improvements Assessment
$1,296,418 CAD
Total Assessment
$2,016,651 CAD
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