Zips Car Wash

3805 Wards Road, Lynchburg, VA 24502

$7,999,500

Cap Rate 6.50%

Updated: 02.10.25 Posted: 08.21.24 Status: Inactive

Summary

Price $7,999,500	Built/Renov 2015	Tenant Zips Car Wash
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,456	Lease Start 11-15-2018	#Units 280
Price/SF $1,795.22	Expiration 11-30-2038	Tenant Type Automotive
NOI $520,280	R. Term 13.6	Ownership Fee Simple
Rent/SF $116.76	Increases 1.5%/1/yrs	Pop 5Mi 89,223
Lot/AC 0.94	Options 6/5yrs/1.5%	AHHI 5Mi $76,286

Lease Highlights

Zips Car Wash has 14 years remaining on the current lease term with 6 (5-year) options to extend
The lease features 1.5% annual rental increases throughout the initial term and each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Zips Car Wash is strategically located on Wards Road, with access to 41,000 vehicles passing by daily. Adjacent to Liberty University’s campus, with a total enrollment of 135,000 students, it stands near one of the world’s largest Christian universities. Furthermore, the property is conveniently situated across the street from Walmart Supercenter and Sam’s Club. National tenants in the...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
University college close
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Annual rent increases
Corporate Guarantee
Over 100 Units backed

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Links

Zips Car Wash Wikipedia Lynchburg, Virginia Zip Code 24502 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Zips Car Wash
Guarantor:Corporate
Company:Zips Car Wash
# Units:280
Stock:Private

About Tenant

Zips Car Wash is the fastest-growing car wash company in the United States. They have over 280 locations in 25 states throughout the Southeastern and Central U.S. with approximately 1,600...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,820	38,412	90,787
2023 Total Population :	8,821	37,559	89,223
2023 Employed Civilian Pop :	2,596	17,251	42,599
2023 Total Businesses :	280	1,133	3,736
2023 Average Household Income :	$ 66,888	$ 74,457	$ 76,286
2023 Total Consumer Spending :	$ 43 M	$ 854 M	$ 2332 M
2023 Median Age :	21	30	34
2023 Total Households :	734	13,167	35,000
2023 Pop Age 25+: Bachelor's Degree :	327	5,969	12,743
2023 Average Home Value :	$ 228,863	$ 217,936	$ 226,422

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Wards Road	Atlanta Ave	2021	40,000	0.22 mi
Wards Rd	Atlanta Ave	2016	40,000	0.22 mi
Wards Road	Wards Rd	2021	40,000	0.23 mi
Wards Road	Atlanta Ave	2020	38,000	0.23 mi
Wards Rd	Atlanta Ave	2016	40,000	0.27 mi
	Champion Cir	2021	7,200	0.35 mi
Jerry Falwell Parkway	Liberty Ln	2018	52,000	0.36 mi
CVCC Campus Drive	Wards Ferry Rd	2020	120	0.40 mi
Jerry Falwell Parkway	Candlers Mountain Rd	2020	46,000	0.40 mi
Jerry Falwell Parkway	Candlers Mountain Rd	2018	52,000	0.40 mi

Listing Broker

Keith Sturm

Upland Real Estate Group, Inc.

Contact

72 Listings
12674 Views
15 Sold

Amanda Leathers

Upland Real Estate Group, Inc.

Contact

72 Listings
12674 Views
15 Sold

Keith Sturm

With over 25 years of experience in commercial real estate, Keith Sturm is the Principal and CEO of Upland Real Estate Group, Inc, which he founded in 1995. Under his leadership, Upland has been consistently recognized as one of the top commercial real estate brokerage firms by the Minneapolis/St. Paul Business Journal. Keith has also been awarded the “Power Broker” in four out of five years since 2010, as a Top Brokerage Firm in Sales Transactions by Real Estate Forum and CoStar. Keith has man

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Amanda Leathers

Amanda Leathers has over sixteen years of experience working in net lease sales with a highly motivated and successful team. As an Investment Sales Associate, she has contributed in the completion of over 900 transactions, totaling in excess of $2.8 billion in investment sales nationally. Amanda attended St. Cloud State University, graduating with a Bachelor of Science in Real Estate from the Herberger Business School. Most of her professional career has been at Upland, giving her a unique o

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Deb Vannelli

Upland Real Estate Group, Inc.

Contact

72 Listings
12674 Views
15 Sold

Deb Vannelli

Deborah Vannelli began her commercial real estate career over twenty-five years ago. Today, Deb is the Director of Net Lease Sales in the Minneapolis-based Upland Real Estate Group, Inc., and she has led her team to complete in excess of 900 net lease sales transactions, which have generated over $2.8 billion. Deb specializes in net lease investment sales on a national scale, representing buyers, sellers, and tenants on the sale or purchase of single and multi-tenant, net-leased investment p

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