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Views: 61 DOM: 101 Updated: 11.11.24 Posted: 08.12.24 Status: Active

Summary

Price $5,470,985
Built/Renov 2006
Tenant Mister Car Wash
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 11,725
Lease Start 09-26-2013
#Units 476
Price/SF $466.61
Expiration 09-30-2033
Tenant Type Automotive
NOI $355,614
R. Term 8.10
Ownership Fee Simple
Rent/SF $30.33
Increases 2.0%/1/yrs
Pop 5Mi 164,073
Lot/AC 1.14
Options 4/5yrs/2%
AHHI 5Mi $147,571

Lease Highlights

  • Mister Car Wash has 8+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features CPI increases annually not to exceed 2%
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Mister Car Wash is strategically located on NW State Street, with access to 34,589 vehicles passing by daily. The property is close to the exit of Interstate 15, which sees 197,000 VPD, and offers excellent egress/ingress with no curb, allowing both northbound and southbound access. Additionally, there is an entry point via the surrounding shopping center. The immediate area is home to...

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Maps

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Tenant

  • Tenant: Mister Car Wash
  • Guarantor:Corp T and Rated
  • Company:Mister Car Wash Holdings, Inc.
  • # Units:476
  • Tenant S&P: B
  • Moody’s: B2
  • Stock: NYSE: MCW

About Tenant

Mister Car Wash is the nation’s largest car wash brand with over 475 locations across the United States (21 states). The company has come a long way since opening its first location in 1969 in...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 14,878 84,976 172,005
2024 Total Population : 14,109 81,600 166,086
2024 Employed Civilian Pop : 6,932 39,183 77,294
2024 Total Businesses : 702 2,518 4,367
2024 Average Household Income : $ 107,133 $ 135,895 $ 144,671
2024 Total Consumer Spending : $ 449 M $ 2910 M $ 5936 M
2024 Median Age : 30 30 29
2024 Total Households : 4,801 24,774 47,659
2024 Pop Age 25+: Bachelor's Degree : 2,490 15,412 30,954
2024 Average Home Value : $ 612,079 $ 642,843 $ 678,053
*ESRI data is presented for informational purposes only

Listing Broker

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