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Views: 50 DOM: 85 Updated: 08.31.24 Posted: 06.15.24 Status: Active

Summary

Price $5,829,000
Built/Renov 2024
Tenant Mighty Wash Car Wash
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,500
Lease Start 08-01-2024
#Units 20
Price/SF $1,295.33
Expiration 08-01-2039
Tenant Type Automotive
NOI $387,630
R. Term 14.11
Ownership Fee Simple
Rent/SF $86.14
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 escalations throughout the initial term and option periods
  • Absolute NNN | 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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Listing Broker

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