Tommy's Express

4089 Tutt Boulevard, Colorado Springs, CO 80922

$6,500,000

Cap Rate 6.00%

Views: 70 DOM: 136 Updated: 09.05.24 Posted: 04.25.24 Status: Active

Summary

Price $6,500,000	Built/Renov 2021	Tenant Tommy's Express
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,867	Lease Start 07-01-2024	#Units 192
Price/SF $1,335.52	Expiration 06-30-2044	Tenant Type Automotive
NOI $390,000	R. Term 19.10	Ownership Fee Simple
Rent/SF $80.13	Increases 10.0%/5/yrs	Pop 5Mi 223,500
Lot/AC 2.24	Options 4/5yrs/10%	AHHI 5Mi $80,579

Lease Highlights

Tommy’s Express Car Wash will be executing a brand new 20-year lease with 4 (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

Tommy's Express Car Wash is strategically located on Tutt Boulevard, with access to 15,200 vehicles passing by daily. The surrounding area hosts well-known national tenants such as Costco, Ross Dress for Less, Target, TJ Maxx, Joann, and more. Moreover, the property is conveniently situated near several housing complexes, including the newly constructed Crown at Rio Vista, Cortland Powers...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Tommy's Express Car Wash Wikipedia Colorado Springs, Colorado Zip Code 80922 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Tommy's Express Car Wash
Guarantor:Corporate
Company:Tommy Car Wash Systems
# Units:192
Stock:Private

About Tenant

Tommy’s Express Car Wash is a chain of automated car wash facilities that prioritize speed, convenience, and quality. They offer quick and efficient car cleaning services, often with membership...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	16,352	126,698	265,663
2023 Total Population :	14,643	123,005	257,124
2023 Employed Civilian Pop :	7,500	61,401	125,333
2023 Total Businesses :	332	2,780	6,910
2023 Average Household Income :	$ 103,741	$ 105,699	$ 104,035
2023 Total Consumer Spending :	$ 492 M	$ 4266 M	$ 8807 M
2023 Median Age :	36	36	36
2023 Total Households :	5,554	46,936	98,491
2023 Pop Age 25+: Bachelor's Degree :	2,485	20,604	44,425
2023 Average Home Value :	$ 402,045	$ 423,452	$ 433,557

*ESRI data is presented for informational purposes only

Listing Broker

Hunter Steffien

Faris Lee Investments

Contact

22 Listings
2502 Views
10 Sold

Tyler Strauss

Faris Lee Investments

Contact

17 Listings
1984 Views
7 Sold

Hunter Steffien

As a Director at Faris Lee Investments, Hunter Steffien specializes in the acquisition and disposition of net leased investments with a specific focus Single Tenant Assets. Mr. Steffien hit the ground running with Faris Lee Investments by quickly becoming a top performer in the company and earning an astounding reputation amongst his clients who consist of private-office owners, developers, REITS, franchisees & corporate restaurant chains. Mr. Steffien’s early and continued success is based

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Tyler Strauss

As an Associate at Faris Lee Investments, Mr. Strauss specializes in the acquisition and disposition of single-tenant net leased investments, national portfolios and sale/leasebacks nationwide. Furthermore, Tyler specializes in creative solutions including but not limited to lease structure, development advisory, break-ups, and pre-sale strategies. In addition, his clients benefit from his financial counsel and ability to produce customized marketing programs to maximize the best outcome. Mr. S

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