Clean Freak Car Wash (GL)

19210 Preston Road, Dallas, TX 75252

$2,095,000

Cap Rate 5.25%

DOM: 131 Updated: 03.27.24 Posted: 11.10.23 Status: Sold 03.20.24

Summary

Price $2,095,000	Built/Renov 2024	Tenant Clean Freak Car Wash (GL)
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,200	Lease Start 04-01-2024	#Units 27
Price/SF $402.88	Expiration 04-01-2044	Tenant Type Automotive
NOI $110,000	R. Term 18.11	Ownership Ground Lease
Rent/SF $21.15	Increases 2.0%/1/yrs	Pop 5Mi 374,991
Lot/AC 1.12	Options 4/5yrs/2%	AHHI 5Mi $126,414

Lease Highlights

Clean Freak Car Wash recently signed a brand-new 20-year ground lease with 4 (5-year) options to extend
Lease features 2% annual rental increase throughout the initial term and during each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

This Clean Freak Car Wash is currently being constructed, with excellent frontage and accessibility, along Preston Rd. and Mapleshade Lane, which see a combined 68,530 vehicles passing by daily. The site is an outparcel to Lowe’s and is adjacent to both a soon to be Dutch Bros and AutoZone. Additionally, the subject property is located immediately off the President George Bush Turnpike which...

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Key Features

New construction
Hard corner intersection
High traffic 50M+ VPD
Shopping Ctr out-parcel
Top 100 MSA
Income tax free state
Brand new lease
Long 20+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Clean Freak Car Wash Wikipedia Dallas, Texas Zip Code 75252 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Clean Freak Car Wash
Guarantor:Corp T and Rated
Company:Alimentation Couche-Tard
# Units:27
Tenant S&P: BBB+
Moody’s: Baa1
Stock: TSX: ATD

About Tenant

Clean Freak Car Wash is an American car wash chain. They offer a variety of car wash and detailing services utilizing tunnel-based systems. The private company was established in 2016 as a...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	13,670	127,041	379,175
2023 Total Population :	13,873	126,464	376,320
2023 Employed Civilian Pop :	8,266	69,889	218,687
2023 Total Businesses :	1,163	7,461	21,023
2023 Average Household Income :	$ 145,288	$ 142,817	$ 129,456
2023 Total Consumer Spending :	$ 850 M	$ 6723 M	$ 18350 M
2023 Median Age :	43	40	39
2023 Total Households :	6,891	55,077	165,096
2023 Pop Age 25+: Bachelor's Degree :	4,715	36,394	103,127
2023 Average Home Value :	$ 525,134	$ 545,080	$ 479,774

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Mapleshade Ln	Preston Rd	2009	5,200	0.05 mi
Preston Rd	Lloyd Cir	2004	56,540	0.11 mi
Lloyd Cir	Preston Rd	2009	2,730	0.16 mi
Preston Rd	Lloyd Dr	2001	52,785	0.21 mi
Preston Rd	President George Bush Tpke	2009	61,750	0.23 mi
President George Bush Tpke	Preston Rd	2004	116,000	0.24 mi
Mapleshade Ln	Windmill Ln	2004	2,360	0.27 mi
Fortson Ave	Barfield Dr	2004	130	0.36 mi
Lloyd Cir	Redstone Cir	2009	2,740	0.37 mi
Preston Rd	Alliance Blvd	2012	66,548	0.38 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
33344 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
33453 Views
128 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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