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Triple-net leased car wash inventory moved lower in January 2026, with just 200 properties reported on the market, according to investment brokerage firm B+E. The firm said the January tally represented a decline of 40 listings from the prior month and a 31% drop from November 2025, when listed inventory for the sector peaked at 289 properties.
B+E noted that the reduced count of available triple-net car wash assets is having clear implications for capital deployment strategies. For 1031 exchange participants and private capital investors, the firm observed that fewer active listings typically lead to a smaller universe of options and more selective bidding. Within that environment, B+E reported that competition is most pronounced for stabilized car wash assets that meet long-term net lease criteria.
Despite the lower level of inventory, pricing benchmarks showed little movement. B+E reported that the average cap rate for listed car wash properties in January stood at 6.24%. The firm said this was in line with the performance of the prior half year, during which average cap rates for the category have traded in a tight band between 6.24% and 6.33%.
According to the report, this cap rate consistency points to steady demand for stabilized car wash operators within the triple-net segment. B+E attributed the narrow range partly to predictable underwriting expectations in the category and continued investor appetite for the long-term income characteristics associated with net lease structures. The data suggests that, even as the number of listings has fallen, pricing for stabilized assets has remained relatively resilient.
The report also highlighted brand-level dynamics in January’s inventory. B+E said Whistle Express accounted for the largest concentration of listed car wash properties by brand name during the month. However, this pipeline did not align directly with the most active state for listings. The firm reported that Texas was the top state by listing volume, even though Whistle Express currently has no locations there.
Whistle Express car washes, according to B+E’s summary, operate across the Southeast and in Colorado, but not in Texas. The contrast between the brand’s geographic footprint and the state-level listings leaderboard underscores that the triple-net car wash inventory trends identified in the January report reflect a mix of operators, platforms, and regions, rather than being driven by a single chain or market. Overall, the combination of reduced inventory and steady cap rates frames a competitive environment for investors focused on stabilized triple-net car wash assets.
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