KEMAH, Texas - RealSource Group, a national commercial real estate brokerage company specializing in investment sales, sale‑leasebacks and tenant representation, announced the sale of a 2021‑built, single‑tenant Mister Car Wash in Kemah, 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.
“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.”
“The recent take-private transaction of Mister Car Wash by Leonard Green & Partners has reinforced investor confidence in the platform,” Blodgett noted. “Leonard Green’s involvement brings deep institutional capital and a strong track record of scaling high-quality consumer brands, positioning Mister Car Wash for continued expansion and operational investment across its national footprint. That backing has further strengthened the credit profile many net-lease investors associate with the tenant, keeping demand for Mister Car Wash assets exceptionally high.”
Blodgett added, “Additionally, properties located in income-tax-free states such as Texas remain among the most sought-after opportunities, as investors look to pair strong operating platforms with tax-efficient markets that enhance after-tax returns.“
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.
About RealSource Group
RealSource Group, founded in 1991, is a national commercial real estate brokerage company specializing in tenant representation, investment sales and sale-leaseback transactions. Leveraging its sales and leasing experience, extensive broker network, technology, unique processes and national reach, RealSource delivers consistent production, exceptional service and measurable results for clients across the country. Having completed more than 1,000 commercial real estate deals nationwide, RealSource has perfected its platform through proven execution over the past 34 years. For more information, visit: realsource.com.