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Views: 52 DOM: 54 Updated: 08.08.24 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 17.0
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 17+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1% annual rental escalations 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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Listing Broker

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