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Views: 87 DOM: 58 Updated: 11.08.24 Posted: 09.24.24 Status: Active

Summary

Price $2,523,000
Built/Renov 2023
Tenant Quick Quack Car Wash (GL)
Cap Rate 5.35%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,162
Lease Start 06-16-2023
#Units 230
Price/SF $606.20
Expiration 06-30-2038
Tenant Type Automotive
NOI $135,000
R. Term 13.7
Ownership Ground Lease
Rent/SF $32.44
Increases 10.0%/5/yrs
Pop 5Mi 171,746
Lot/AC 1.03
Options 3/5yrs/10%
AHHI 5Mi $88,212

Lease Highlights

  • New 2023 construction
  • Quick Quack Car Wash has 13+ years remaining on the current ground lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Quick Quack Car Wash is strategically located on North Mesa Street, with access to a daily traffic count of 32,415 vehicles. The property is surrounded by prominent national tenants, including Burlington, Harbor Freight Tools, Starbucks, Taco Bell, Goodwill, and more. It is conveniently situated within a 15-minute drive from key locations such as downtown El Paso and the University of Texas at...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Quick Quack Car Wash
  • Guarantor:Corporate
  • Company:Quick Quack Car Wash Holdings
  • # Units:230
  • Stock:Private

About Tenant

Quick Quack Car Wash is a growing chain of exterior-only express car washes. Developed in 2004, it has grown from a local car wash in Sacramento, CA to the fourth-largest car wash in the nation....


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 15,077 73,241 171,951
2023 Total Population : 14,872 72,592 169,892
2023 Employed Civilian Pop : 7,521 35,311 74,955
2023 Total Businesses : 768 3,069 5,350
2023 Average Household Income : $ 101,303 $ 100,646 $ 93,980
2023 Total Consumer Spending : $ 576 M $ 2641 M $ 5395 M
2023 Median Age : 38 37 36
2023 Total Households : 6,523 30,273 66,081
2023 Pop Age 25+: Bachelor's Degree : 3,219 16,007 29,855
2023 Average Home Value : $ 276,517 $ 277,914 $ 252,623
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Mesa Street Balboa Rd 2020 34,479 0.04 mi
Shadow Mountain Dr N Mesa St 2003 27,190 0.12 mi
Crown Point Dr N Mesa St 2002 1,690 0.26 mi
Thunderbird Dr Twilight Ln 2004 7,783 0.30 mi
Crestmont Dr Parkmont Pl 2006 1,394 0.32 mi
N Mesa St Crown Point Dr 2014 29,218 0.35 mi
North Mesa Street Shadow Mountain Dr 2021 30,149 0.35 mi
North Mesa Street N Mesa St 2020 43,651 0.35 mi
Vista del Rey Dr Vista Corona Ct 2005 525 0.35 mi
Balboa Rd Alcalde Ave 2005 2,245 0.45 mi

Listing Broker

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