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Views: 50 DOM: 33 Updated: 11.20.24 Posted: 10.19.24 Status: Active

Summary

Price $3,451,000
Built/Renov 2024
Tenant Quick Quack Car Wash (GL)
Cap Rate 5.65%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,588
Lease Start 10-29-2024
#Units 230
Price/SF $961.82
Expiration 10-31-2044
Tenant Type Automotive
NOI $195,000
R. Term 19.11
Ownership Ground Lease
Rent/SF $54.35
Increases 12.5%/5/yrs
Pop 5Mi 237,317
Lot/AC 1.73
Options 10/5yrs/12.5%
AHHI 5Mi $115,389

Lease Highlights

  • Brand new 2024 construction
  • New 20-year ground lease with 10 (5-year) options to extend
  • Lease features 12.5% rental increases every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Quick Quack Car Wash is strategically located at the signalized, hard corner intersection of Canyon Road East and 116th Road East, with access to a robust daily traffic count of 55,025 vehicles. The property is conveniently near the WA-512 arterial (93,000 VPD) and is just 6 miles from Joint Base Lewis-McChord, Washington’s fourth-largest employer. It is also situated 5 miles from Pacific...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Quick Quack Car Wash
  • Guarantor:Corporate
  • Company:Quick Quack Car Wash Holdings
  • # Units:230
  • Stock:Private

About Tenant

Quick Quack Car Wash is a growing chain of exterior-only express car washes. Developed in 2004, it has grown from a local car wash in Sacramento, CA to the fourth-largest car wash in the nation....


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Listing Broker

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