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DOM: 437 Updated: 10.30.24 Posted: 05.19.23 Status: Sold 07.30.24

Summary

Price $2,041,500 $2,273,000
Built/Renov 2023
Tenant Quick Quack Car Wash (GL)
Cap Rate 6.12% 5.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,596
Lease Start 07-01-2023
#Units 192
Price/SF $567.71 $632.09
Expiration 06-30-2043
Tenant Type Automotive
NOI $125,000
R. Term 18.1
Ownership Ground Lease
Rent/SF $34.76
Increases 10.0%/5/yrs
Pop 5Mi 29,477
Lot/AC 0.79
Options 10/5yrs/10%
AHHI 5Mi $63,561

Lease Highlights

  • Brand-new 2023 construction
  • Quick Quack Car Wash recently signed a brand-new 20-year lease with 10 (5-year) options
  • Lease features 10% rental increases every 5 years throughout the initial term and at each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Quick Quack Car Wash Holdings, LLC

Location Description

The subject property is strategically situated along Twentynine Palms Highway (21,000 VPD), a major traffic thoroughfare and a commercial corridor that stretches across all of San Bernardino County. The highway serves as the primary arterial that connects I-10 to all of the cities and towns in the Morongo Basin. Retailers along Twentynine Palms Highway include Walmart Supercenter, The Home...

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Maps

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Tenant

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 : 3,292 18,539 27,792
2023 Total Population : 3,317 18,642 27,824
2023 Employed Civilian Pop : 1,331 7,491 11,371
2023 Total Businesses : 210 740 999
2023 Average Household Income : $ 77,759 $ 82,430 $ 80,686
2023 Total Consumer Spending : $ 84 M $ 540 M $ 811 M
2023 Median Age : 36 41 42
2023 Total Households : 1,235 7,495 11,480
2023 Pop Age 25+: Bachelor's Degree : 258 1,628 2,500
2023 Average Home Value : $ 365,878 $ 377,635 $ 334,481
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Balsa Ave Twentynine Palms Outerhwy N 2010 5,380 0.13 mi
Balsa Ave Hanford Ave 2010 7,105 0.16 mi
Hilton Rd Sunnyslope Dr 2010 4,741 0.17 mi
Warren Vista Dr 29 Palms Hwy 2010 1,838 0.47 mi
Avalon Ave Sunnyslope Dr 2010 2,717 0.57 mi
Yucca Trl la Habra Ave 2010 7,549 0.58 mi
Palomar Ave Arcadia Trl 2010 4,612 0.75 mi
Airway Ave Twentynine Palms Outerhighway S 2010 1,907 0.77 mi
Airway Ave Twentynine Palms Outerhighway N 2010 1,415 0.77 mi
Airway Ave Lupine Dr 2010 1,668 0.83 mi

Listing Broker

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Jeff Lefko

Hanley Investment Group

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  • 151 Listings
  • 26514 Views
  • 78 Sold
Bill Asher

Hanley Investment Group

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  • 151 Listings
  • 27235 Views
  • 75 Sold

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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