The NNN car wash market continued to show stability in April 2026 despite a decline in available inventory. B+E’s latest NNN Car Wash Listed Inventory Report highlights shifts in supply, pricing, cap rates, and tenant activity across the sector, providing investors with a clearer picture of current market conditions.
April inventory declined month-over-month, while average pricing and cap rates remained relatively steady. For investors evaluating opportunities in the car wash sector, this combination may suggest a market that remains active but selective.
Download the full report for deeper insights into tenant trends, geographic activity, and market data.
April 2026 Car Wash Market Highlights
- Listed inventory declined to 190 on-market properties, down from 213 in March, representing a decrease of 23 available listings month-over-month.
- Average cap rates remained stable at 6.21%, only slightly below March’s 6.25%, indicating relatively consistent pricing expectations.
- Average pricing held near $5.1 million, showing limited movement despite reduced inventory levels.
- Average NOI remained above $318,000, reinforcing continued operating consistency across listed assets.
- Average lease terms increased to 19.0 years, extending slightly from the prior month.
Inventory Tightened While Pricing Remained Consistent
April saw a decline in the number of listed car wash properties available on the market. Inventory moved from 213 properties in March to 190 in April. While lower supply can sometimes create pricing pressure, average pricing remained largely unchanged at approximately $5.1 million.
Stable pricing alongside reduced inventory may indicate that buyers and sellers continue operating within relatively established valuation expectations rather than experiencing major shifts in sentiment.
Car Wash Cap Rates Continued to Hold Steady
Average cap rates moved from 6.25% in March to 6.21% in April. Small movements of this magnitude can occur naturally as available inventory changes and individual properties enter or leave the market.
For investors, cap rate stability may continue supporting underwriting consistency while allowing comparisons across opportunities and tenants.
Leading Car Wash Operators Continued to Drive Market Activity
Several tenants maintained meaningful representation within the April inventory data.
Whistle Express Car Wash represented the largest share of listings with 38 available properties, followed by BlueWave Express Car Wash with 20 and Clearwater Express Car Wash with 16
Large tenant representation can provide investors with visibility into active operators and broader market participation patterns.
Geographic Activity Remained Concentrated in Key Markets
Texas continued to lead inventory activity with 56 listed properties, followed by Georgia with 19, California with 18, and Florida with 16.
Many of these markets have historically shown strong population growth and consumer demand, which often contributes to ongoing interest within the car wash sector.
Download the Full April 2026 Car Wash Report
B+E’s April 2026 NNN Car Wash Listed Inventory Report includes additional data on:
- Inventory trends
- Tenant-level market activity
- Cap rate movement
- Geographic distribution
- Pricing and NOI metrics
Download the full report for a more complete view of the current car wash investment landscape.
Download the Full April 2026 Report
- $4,250,000
- $15,262,000