WhiteWater Express Car Wash

10910 East 31st Street, Tulsa, OK 74146

$4,350,000

Cap Rate 6.90%

Views: 142 DOM: 191 Updated: 10.30.24 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 16.0	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 increases throughout the initial term and option period
Absolute NNN lease | 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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Key Features

Build to suit
Dense retail corridor
Near major nationals
Freeway close
Dense 100M+ pop 5 mi
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

WhiteWater Express Car Wash Wikipedia Tulsa, Oklahoma Zip Code 74146 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: WhiteWater Express Car Wash
Guarantor:Corporate
Company:Freeman Spogli & Co.
# Units:110
Stock:Private

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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	18,693	89,896	209,865
2024 Total Population :	18,265	88,485	206,001
2024 Employed Civilian Pop :	8,685	43,991	106,926
2024 Total Businesses :	405	4,664	11,194
2024 Average Household Income :	$ 65,695	$ 65,417	$ 81,835
2024 Total Consumer Spending :	$ 361 M	$ 1999 M	$ 6124 M
2024 Median Age :	30	34	36
2024 Total Households :	6,123	34,112	84,163
2024 Pop Age 25+: Bachelor's Degree :	1,019	7,187	26,671
2024 Average Home Value :	$ 240,269	$ 234,539	$ 246,781

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	S 111th East Ave	2021	24,000	0.06 mi
E 31st St	S 111th East Ave	2017	34,400	0.10 mi
E 31st St	S 108th East Ave	2008	32,300	0.15 mi
E 31st St	S 108th East Ave	2015	28,100	0.17 mi
	S 107th East Ave	2021	1,300	0.19 mi
S Garnett Rd	E 33rd St	2017	20,700	0.20 mi
	E 31st St S	2021	9,600	0.27 mi
	E 32nd St	2021	5,300	0.29 mi
E 23rd St	S Garnett Rd	2017	22,900	0.30 mi
	E 33rd Pl	2021	15,700	0.30 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
17453 Views
65 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
17893 Views
63 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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