Ultimate Shine Car Wash

3250 Electric Road, Roanoke, VA 24018

$5,846,154

Cap Rate 6.50%

Views: 117 DOM: 210 Updated: 07.09.24 Posted: 04.25.24 Status: Active

Summary

Price $5,846,154	Built/Renov 2023	Tenant Ultimate Shine Car Wash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,106	Lease Start 07-01-2024	#Units 23
Price/SF $1,144.96	Expiration 06-30-2044	Tenant Type Automotive
NOI $380,000	R. Term 19.7	Ownership Fee Simple
Rent/SF $74.42	Increases 1.5%/1/yrs	Pop 5Mi 108,285
Lot/AC 1.03	Options 4/5yrs/1.5%	AHHI 5Mi $83,476

Peter Deltondo

Marcus & Millichap

Contact

Lease Highlights

Brand new 2023 construction
Ultimate Shine Car Wash will be executing a brand new 20-year lease with 4 (5-year) options to extend at the close of escrow
The lease features 1.5% annual rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Ultimate Shine Car Wash is strategically located on Electric Road, with access to 26,800 vehicles passing by daily. Positioned within a dense retail corridor, the property is surrounded by well-known national tenants including Walgreens, Pizza Hut, CVS, Taco Bell, Dollar General, and more. Adjacent to the Cave Spring Corners Shopping Mall, this prime location ensures convenience and...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Major MSA
Brand new lease
Long 20+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Ultimate Shine Car Wash Wikipedia Roanoke, Virginia Zip Code 24018 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Ultimate Shine Car Wash
Guarantor:Corporate
Company:Spotless Brands
# Units:23
Stock:Private

About Tenant

Ultimate Shine Car Wash is a brand of tunnel car washes using industry-leading technology that delivers consistent quality using self-cleaning Neo Tex foam brushes, designed not to hold onto any...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,225	51,620	108,354
2023 Total Population :	9,213	51,734	108,424
2023 Employed Civilian Pop :	4,894	26,576	53,176
2023 Total Businesses :	471	2,034	4,676
2023 Average Household Income :	$ 88,400	$ 105,000	$ 90,767
2023 Total Consumer Spending :	$ 314 M	$ 2101 M	$ 3773 M
2023 Median Age :	43	47	44
2023 Total Households :	4,129	23,392	48,125
2023 Pop Age 25+: Bachelor's Degree :	2,111	12,240	19,323
2023 Average Home Value :	$ 322,435	$ 366,304	$ 337,528

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Electric Rd	Colonial Ave	2016	28,000	0.11 mi
Westmoreland Dr	Valley Forge Ave	2009	310	0.12 mi
Concord Pl	York Ave	2009	210	0.20 mi
Valley Forge Ave	Concord Pl	2009	310	0.22 mi
Girard Dr	Hammond Ln	2009	420	0.22 mi
Old Cave Spring Rd	Brambleton Ave	2016	2,300	0.23 mi
Manassas Dr	View Ave	2013	2,300	0.24 mi
Colonial Avenue	Electric Rd	2021	12,000	0.26 mi
Colonial Avenue	Electric Rd	2020	6,900	0.26 mi
Valley Forge Ave	Concord Pl	2015	1,500	0.29 mi

Listing Broker

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