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Views: 51 DOM: 17 Updated: 08.30.24 Posted: 08.30.24 Status: Active

Summary

Price $4,445,000
Built/Renov 2007/2020
Tenant WhiteWater Express Car Wash
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,722
Lease Start 12-18-2020
#Units 114
Price/SF $941.34
Expiration 12-31-2040
Tenant Type Automotive
NOI $300,000
R. Term 16.3
Ownership Fee Simple
Rent/SF $63.53
Increases 1.3%/1/yrs
Pop 5Mi 290,431
Lot/AC 1.60
Options 4/5yrs
AHHI 5Mi $121,440

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 1.25% 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 North Beach Street, with access to 37,500 vehicles passing by daily. The property is surrounded by top-performing tenants according to Placer.Ai including Walmart (top 17% nationwide), Taco Bell (top 22% in Texas), Bank of America (top 15% nationwide), Chase Bank (top 18% in Texas), Starbucks (top 30% in Texas), and Sonic Drive-In (top...

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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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