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Views: 117 DOM: 159 Updated: 10.22.24 Posted: 07.15.24 Status: Active

Summary

Price $5,177,000
Built/Renov 2021
Tenant WhiteWater Express Car Wash
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,078
Lease Start 10-01-2021
#Units 110
Price/SF $1,269.49
Expiration 09-30-2041
Tenant Type Automotive
NOI $310,620
R. Term 16.9
Ownership Fee Simple
Rent/SF $73.96
Increases 1.0%/1/yrs
Pop 5Mi 246,391
Lot/AC 1.02
Options 4/5yrs/1%
AHHI 5Mi $120,918

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% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

WhiteWater Express Car Wash is strategically located on Katy Freeway, with access to 153,850 vehicles passing by daily. The property enjoys a prime location as an outparcel to Costco and is positioned at the I-10 US 99 Interchange. The immediate area boasts well-known national tenants including Goodwill, Smoothie King, T-Mobile, Planet Fitness, and more. The 5-mile trade area supports a...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 15,617 127,617 310,570
2024 Total Population : 14,605 118,690 291,364
2024 Employed Civilian Pop : 7,832 62,796 145,497
2024 Total Businesses : 817 4,960 9,246
2024 Average Household Income : $ 104,174 $ 123,548 $ 142,097
2024 Total Consumer Spending : $ 511 M $ 4498 M $ 11838 M
2024 Median Age : 34 36 36
2024 Total Households : 5,578 41,686 96,071
2024 Pop Age 25+: Bachelor's Degree : 3,245 26,212 64,914
2024 Average Home Value : $ 309,511 $ 344,358 $ 406,902
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
I- 10 Hwy 90 2013 135,667 0.36 mi
Emestes Rd 2021 32,445 0.39 mi
New Hope Ln 2022 32,769 0.39 mi
West Grand Parkway South E Fernhurst Dr 2020 20,444 0.39 mi
West Grand Parkway South Western Centre Dr 2018 23,351 0.41 mi
Peek Rd Katy Fwy 2013 62,491 0.44 mi
Katy Freeway Emestes Rd 2022 140,184 0.45 mi
Emestes Rd 2021 30,312 0.48 mi
New Hope Ln 2022 30,433 0.48 mi
Peek Rd Colonial Pkwy 2011 24,390 0.52 mi

Listing Broker

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