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Views: 59 DOM: 58 Updated: 10.30.24 Posted: 09.24.24 Status: Active

Summary

Price $4,444,000
Built/Renov 2024
Tenant WhiteWater Express Car Wash
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,750
Lease Start 09-01-2024
#Units 114
Price/SF $1,185.07
Expiration 08-31-2044
Tenant Type Automotive
NOI $300,000
R. Term 19.9
Ownership Fee Simple
Rent/SF $80.00
Increases 0.0%/0/yrs
Pop 5Mi 292,195
Lot/AC 1.74
Options 4/5yrs
AHHI 5Mi $82,191

Lease Highlights

  • Brand-new 2024 construction
  • 20-year initial lease term with 4 (5-year) options to extend
  • The lease features annual rental increases throughout the primary lease term and FMV increases in options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

WhiteWater Express Car Wash is strategically located on Plymouth Road, access to 20,000 vehicles passing by daily. The property is surrounded by top-performing tenants, according to Placer.ai, including Walmart Supercenter (3.1 million annual visitors, top 7% in Michigan), Target (1.3 million annual visitors), Meijer (top 15% nationwide), Menards (top 4% in Michigan), Home Depot (top 2% in...

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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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