loader
Join Free
Views: 9 DOM: 3 Updated: 10.15.24 Posted: 10.15.24 Status: Active

Summary

Price $3,541,666
Built/Renov 2024
Tenant Splash Car Wash (GL)
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,500
Lease Start 07-01-2024
#Units 60
Price/SF $1,011.90
Expiration 06-30-2044
Tenant Type Automotive
NOI $212,500
R. Term 19.8
Ownership Ground Lease
Rent/SF $60.71
Increases 10.0%/5/yrs
Pop 5Mi 68,634
Lot/AC 0.90
Options 3/5yrs/10%
AHHI 5Mi $130,738

Lease Highlights

  • Brand new 2024 construction
  • New 20-year ground lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the base term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Splash Car Wash is strategically located at the signalized, hard corner intersection of Genesee Street and Highbridge Street, with access to a robust combined daily traffic count of 57,985 vehicles. The property is adjacent to one of the top 4% most visited shopping centers in the U.S. and is ideally positioned next to a Target-anchored shopping center, which attracted approximately 5.9...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Splash Car Wash
  • Guarantor:Corp T and Rated
  • Company:Driven Brands Holdings, Inc.
  • # Units:60
  • Tenant S&P: B+
  • Stock: NASDAQ: DRVN

About Tenant

Splash Car Wash was founded in 1981 by Greenwich, Connecticut residents Mark Curtis and Chris Fisher with the acquisition of Carl’s Auto Bath. Initially operating as The Tahiti Auto Spa and later...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity