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Views: 79 DOM: 159 Updated: 10.24.24 Posted: 06.15.24 Status: Active

Summary

Price $5,336,000
Built/Renov 2024
Tenant Mighty Wash Car Wash
Cap Rate 6.85%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,500
Lease Start 11-01-2024
#Units 20
Price/SF $1,185.78
Expiration 11-30-2039
Tenant Type Automotive
NOI $365,519
R. Term 15.0
Ownership Fee Simple
Rent/SF $81.23
Increases 10.0%/5/yrs
Pop 5Mi 68,993
Lot/AC 1.57
Options 3/5yrs/10%
AHHI 5Mi $70,603

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease 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

Mighty Wash Car Wash is strategically located on Robinson Dr., a major retail and commuter thoroughfare, with access to 28,100 vehicles passing by daily. The property is across from a heavily trafficked Brookshire’s supermarket, which draws over 617,000 visitors annually (per Placer.ai). The immediate area is surrounded by well-known national tenants including McDonald’s, Dairy Queen, and...

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Maps

  • 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,688 20,822 70,625
2024 Total Population : 3,582 19,620 68,604
2024 Employed Civilian Pop : 1,672 9,881 32,488
2024 Total Businesses : 126 704 3,104
2024 Average Household Income : $ 108,577 $ 94,188 $ 73,310
2024 Total Consumer Spending : $ 124 M $ 647 M $ 1659 M
2024 Median Age : 40 36 28
2024 Total Households : 1,318 7,758 25,333
2024 Pop Age 25+: Bachelor's Degree : 404 2,090 6,492
2024 Average Home Value : $ 289,657 $ 284,616 $ 248,529
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Peplow Dr N Old Robinson Rd 2010 2,680 0.13 mi
Robinson Drive Deana Dr 2022 28,118 0.26 mi
Bentwood Dr N Old Robinson Rd 2010 230 0.27 mi
N Old Robinson Rd Deana Dr 2010 2,140 0.37 mi
N Old Robinson Rd Durie Dr 2010 2,910 0.52 mi
Greig Drive Hoffmeyer Ln 2022 1,402 0.62 mi
Greig Dr N Old Robinson Rd 2010 1,030 0.82 mi
Tinsley W Tinsley Rd 2010 720 0.83 mi
W Tate St S Old Robinson Rd 2010 3,980 0.89 mi
Robinson Drive E Santa Anna St 2022 21,713 1.30 mi

Listing Broker

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