Wash U Car Wash (GL)

325 West Centennial Parkway, North Las Vegas, NV 89084

$3,750,000

Cap Rate 6.00%

Views: 31 DOM: 114 Updated: 04.25.24 Posted: 01.23.24 Status: Active

Summary

Price $3,750,000	Built/Renov 2023	Tenant Wash U Car Wash (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 10,000	Lease Start 10-01-2023	#Units 13
Price/SF $375.00	Expiration 09-30-2043	Tenant Type Automotive
NOI $225,000	R. Term 19.4	Ownership Ground Lease
Rent/SF $22.50	Increases 12.0%/4/yrs	Pop 5Mi 297,096
Lot/AC 1.11	Options 4/5yrs/12%	AHHI 5Mi $93,551

Eric Carlton

Colliers NNN Group

Contact

Lease Highlights

Brand new 2023 construction
Wash U Car Wash has 19+ years remaining on the current ground lease term with 4 (5-year) options to extend
Lease features 12% rental increases every 5 years throughout the initial term and at the start of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wash U Car Wash is strategically located at the hard corner intersection of W Centennial Pkwy and N. Commerce St, with a combined daily traffic count of 23,300 vehicles. Positioned directly across from 7-Eleven, the property is surrounded by well-known national retailers such as AutoZone, Taco Bell, McDonald’s, In-N-Out, Target, and several residential developments. Moreover, the property...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Dense 200M+ pop 5 mi
Top 100 MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Wash U Car Wash Wikipedia North Las Vegas, Nevada Zip Code 89084 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wash U Car Wash
Guarantor:Corporate
Company:Wash U Car Wash
# Units:13
Stock:Private

About Tenant

Wash U Car Wash is an owner and operator of car wash facilities. Their environmentally-friendly express car washes use a sustainable technology that uses a fraction of the water and power of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	27,606	150,563	309,220
2023 Total Population :	25,266	142,400	298,185
2023 Employed Civilian Pop :	11,621	63,904	130,322
2023 Total Businesses :	131	1,233	3,892
2023 Average Household Income :	$ 95,347	$ 94,393	$ 93,845
2023 Total Consumer Spending :	$ 671 M	$ 3822 M	$ 7892 M
2023 Median Age :	32	33	34
2023 Total Households :	8,164	46,906	97,085
2023 Pop Age 25+: Bachelor's Degree :	2,212	14,134	27,666
2023 Average Home Value :	$ 379,786	$ 375,435	$ 394,828

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Commerce St	W Centennial Pkwy	2016	3,700	0.06 mi
West Centennial Parkway	N Setting Moon St	2022	11,600	0.13 mi
	W Montessa Ave	2022	4,150	0.18 mi
North Revere Street	W Ship Wrecked Way	2022	3,450	0.48 mi
N 5th St	E Centennial Pkwy	2013	4,700	0.55 mi
North Fifth Street	E Tropical Pkwy	2022	12,100	0.92 mi
North Fifth Street	Coldwell Station Rd	2022	15,300	0.98 mi
West Tropical Parkway	Cam Eldorado	2022	4,850	0.98 mi
West Centennial Parkway	Little Bow Ave	2022	8,650	1.03 mi
North Revere Street	Rock Hollow	2021	5,500	1.04 mi

Listing Broker

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