loader
Join Free
Views: 133 DOM: 248 Updated: 10.03.24 Posted: 02.27.24 Status: Sold 11.01.24

Summary

Price $4,732,000
Built/Renov 2013
Tenant Mighty Wash Car Wash
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,536
Lease Start 12-01-2024
#Units 20
Price/SF $1,123.46
Expiration 11-30-2044
Tenant Type Automotive
NOI $331,266
R. Term 19.8
Ownership Fee Simple
Rent/SF $73.03
Increases 1.5%/1/yrs
Pop 5Mi 121,163
Lot/AC 1.36
Options 4/5yrs/1.5%
AHHI 5Mi $77,068

Lease Highlights

  • Mighty Wash will be executing a brand new 20-year lease with 4 (5-year) options to extend upon close of escrow
  • The lease features 1.5% annual rent escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Asset qualifies for bonus/accelerated depreciation
  • Corporate guaranteed lease

Location Description

Mighty Wash Car Wash is strategically located in a prime location on Kermit Highway, with access to 6,700 vehicles passing by daily. The property offers easy accessibility with multiple entry and exit points via Kermit Highway. The surrounding area boasts well-known national tenants such as Advanced Auto Parts, McDonald's, Jack in the Box, Walgreens, Subway, and Dollar General, and more....

...

Maps

This image is no longer available
Rotate the view
Google
Image may be subject to copyright
This image is no longer available
Rotate the view
Google
Image may be subject to copyright
  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Mighty Wash Car Wash
  • Guarantor:Corporate
  • Company:Mighty Wash Operations
  • # Units:20
  • Stock:Private

About Tenant

Mighty Wash is a conveyor car wash company that provides high-quality car washing services while focusing on continuous growth and adhering to its mission statement: The company offers multiple...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,854 68,579 117,265
2023 Total Population : 11,621 67,411 114,315
2023 Employed Civilian Pop : 5,558 31,592 54,210
2023 Total Businesses : 470 2,765 4,692
2023 Average Household Income : $ 67,014 $ 71,539 $ 74,114
2023 Total Consumer Spending : $ 238 M $ 1502 M $ 2654 M
2023 Median Age : 32 33 34
2023 Total Households : 4,066 23,861 40,795
2023 Pop Age 25+: Bachelor's Degree : 963 4,261 9,099
2023 Average Home Value : $ 260,650 $ 212,668 $ 233,178
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Kermit Highway N Co Rd W 2022 6,453 0.04 mi
Kermit Highway N Co Rd W 2019 9,417 0.04 mi
N Co Rd W W University Blvd 2015 18,375 0.10 mi
W University Blvd Security Ave 2015 21,280 0.11 mi
North County Road West W University Blvd 2022 14,271 0.11 mi
North County Road West W University Blvd 2019 18,175 0.11 mi
West University Boulevard Security Ave 2022 18,708 0.12 mi
N Co Rd W W University Blvd 2015 18,493 0.13 mi
N Co Rd W Harris St 2015 27,562 0.17 mi
West University Boulevard Catalina Dr 2022 23,252 0.17 mi

Listing Broker

Loading...
Chris Lind

Marcus & Millichap: NLAG

Contact
  • 191 Listings
  • 31793 Views
  • 127 Sold
Mark Ruble

Marcus & Millichap: NLAG

Contact
  • 192 Listings
  • 31900 Views
  • 128 Sold

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

...

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

...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity
BESbswy
BESbswy
BESbswy
BESbswy
BESbswy