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Views: 65 DOM: 70 Updated: 11.07.24 Posted: 10.12.24 Status: Active

Summary

Price $5,029,092
Built/Renov 2023
Tenant WetGo Car Wash
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,510
Lease Start 06-01-2023
#Units 41
Price/SF $1,432.79
Expiration 05-31-2043
Tenant Type Automotive
NOI $326,891
R. Term 18.5
Ownership Fee Simple
Rent/SF $93.13
Increases 5.0%/5/yrs
Pop 5Mi 344,919
Lot/AC 1.03
Options 8/5yrs/2.5%
AHHI 5Mi $108,341

Lease Highlights

  • New 2023 construction
  • WetGo has 18+ years remaining on the current lease term with 8 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the base term and 2.5% at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

WetGo Car Wash is strategically located at the signalized, hard corner intersection of Library Road, Killarney Drive, and 6th Street, with access to a combined daily traffic count of 20,028 vehicles. The property is conveniently situated less than 1 mile from major access points to area interstates and roadways. Nearby notable national tenants, including Advance Auto Parts, Burger King, UPS, a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: WetGo Car Wash
  • Guarantor:Corporate
  • Company:Giant Eagle, Inc.
  • # Units:41
  • Stock:Private

About Tenant

WetGo Car Wash is a full-service car wash brand offering a range of services including exterior washes, waxing, and vacuuming. Founded in 2005, WetGo operates under the parent company Giant Eagle,...


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