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Views: 142 DOM: 156 Updated: 10.28.24 Posted: 06.18.24 Status: Active

Summary

Price $4,262,000
Built/Renov 2019
Tenant Zips Car Wash
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,777
Lease Start 06-23-2022
#Units 280
Price/SF $892.19
Expiration 06-30-2042
Tenant Type Automotive
NOI $277,019
R. Term 17.7
Ownership Fee Simple
Rent/SF $57.99
Increases 1.8%/1/yrs
Pop 5Mi 36,667
Lot/AC 2.45
Options 4/5yrs/1.75%
AHHI 5Mi $86,747

Lease Highlights

  • Zips Car Wash has 17+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.75% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Zips Car Wash is strategically located on State Highway 142, with access to 26,000 vehicles passing by daily. The property is positioned between Interstate 20 and State Hwy 278, providing an additional 88,900 VPD. The immediate area is surrounded by well-known national tenants, including Sherwin-Williams, Walmart Supercenter, Ace Hardware, ALDI, Starbucks, Mavis Discount Tire, and more. The...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Zips Car Wash
  • Guarantor:Corporate
  • Company:Zips Car Wash
  • # Units:280
  • Stock:Private

About Tenant

Zips Car Wash is the fastest-growing car wash company in the United States. They have over 280 locations in 25 states throughout the Southeastern and Central U.S. with approximately 1,600...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,052 24,544 42,238
2024 Total Population : 2,562 21,874 38,448
2024 Employed Civilian Pop : 1,229 10,147 17,538
2024 Total Businesses : 364 1,428 1,862
2024 Average Household Income : $ 72,355 $ 86,625 $ 87,971
2024 Total Consumer Spending : $ 69 M $ 612 M $ 1124 M
2024 Median Age : 34 37 38
2024 Total Households : 1,094 7,976 14,397
2024 Pop Age 25+: Bachelor's Degree : 179 1,953 3,478
2024 Average Home Value : $ 344,780 $ 302,669 $ 290,904
*ESRI data is presented for informational purposes only

Listing Broker

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