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Views: 60 DOM: 86 Updated: 08.08.24 Posted: 06.13.24 Status: Active

Summary

Price $4,350,000
Built/Renov 2016
Tenant WhiteWater Express Car Wash
Cap Rate 6.90%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,296
Lease Start 05-05-2021
#Units 110
Price/SF $1,012.57
Expiration 12-31-2040
Tenant Type Automotive
NOI $300,000
R. Term 16.3
Ownership Fee Simple
Rent/SF $69.83
Increases 1.3%/1/yrs
Pop 5Mi 198,202
Lot/AC 1.78
Options 4/5yrs/1.25%
AHHI 5Mi $70,918

Lease Highlights

  • WhiteWater Express Car Wash has 16+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.25% annual rental escalations throughout the initial term and option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

WhiteWater Express Car Wash is strategically located on 31st Street, with access to 29,400 vehicles passing by daily. The property is near the primary retail intersection, providing easy access to Highway 169 and the Broken Arrow Expressway. National tenants at this intersection include Walmart Neighborhood Market (ranked in the top 2% nationwide and #1 location in Oklahoma, according to...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

WhiteWater Express Car Wash is a high-growth, multi-state operator of express car washes. The chain uses state-of-the-art technology using only half the amount of water as the industry standard...


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Listing Broker

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