WhiteWater Express Car Wash

1378 West 1st Street, Springfield, OH 45504

$4,800,000

Cap Rate 6.25%

Views: 89 Updated: 03.26.24 Posted: 11.07.23 Status: Inactive

Summary

Price $4,800,000	Built/Renov 2023	Tenant WhiteWater Express Car Wash
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,345	Lease Start 11-01-2023	#Units 100
Price/SF $1,434.98	Expiration 10-31-2043	Tenant Type Automotive
NOI $300,000	R. Term 18.10	Ownership Fee Simple
Rent/SF $89.69	Increases 1.3%/1/yrs	Pop 5Mi 83,915
Lot/AC 1.16	Options 4/5yrs/1.25%	AHHI 5Mi $62,157

Lease Highlights

Brand-new 2023 construction
WhiteWater Express Car Wash recently signed a brand-new 20-year lease with 4 (5-year) options
Lease features fixed annual increases of 1.25%
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

WhiteWater Express Car Wash is strategically located at the signalized, hard corner intersection of Troy Road and Hillcrest Avenue seeing 24,000 vehicles per day. The site is adjacent to a high volume Meijer as well as a Walmart Supercenter and Home Depot anchored power center further increasing consumer draw to the area. Additionally, the site benefits from its close proximity to the on/off...

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Key Features

New construction
Build to suit
Dense retail corridor
Strategically located
Highway close
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee
Over 100 Units backed

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Links

WhiteWater Express Car Wash Wikipedia Springfield, Ohio Zip Code 45504 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: WhiteWater Express Car Wash
Guarantor:Corporate
Company:Freeman Spogli & Co.
# Units:100
Stock:Private

About Tenant

WhiteWater Express Car Wash is a high-growth, multi-state operator of express car washes. The chain uses state-of-the-art technology using only half the amount of water as the industry standard,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,482	44,477	82,843
2023 Total Population :	4,523	44,686	83,352
2023 Employed Civilian Pop :	1,933	18,757	36,279
2023 Total Businesses :	370	1,629	2,461
2023 Average Household Income :	$ 70,118	$ 66,962	$ 72,276
2023 Total Consumer Spending :	$ 121 M	$ 1058 M	$ 2216 M
2023 Median Age :	39	38	42
2023 Total Households :	1,976	18,003	34,979
2023 Pop Age 25+: Bachelor's Degree :	456	3,496	6,669
2023 Average Home Value :	$ 163,718	$ 159,060	$ 167,553

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W 1ST ST	Hillcrest Ave	2020	3,491	0.03 mi
Bechtle Avenue	W 1st St	2021	17,702	0.11 mi
W 1st St	Bechtle Ave	2016	24,098	0.14 mi
Bechtle Avenue	Hillcrest Ave	2021	21,285	0.17 mi
West 1st Street	US Hwy68	2021	22,210	0.19 mi
West 1st Street	Hillcrest Ave	2021	13,302	0.19 mi
HILLCREST AVE	Bechtle Ave	2020	14,025	0.21 mi
West 1st Street	US Hwy68	2019	1,003	0.24 mi
W 1st St	Amherst Rd	2005	17,630	0.31 mi
Bechtle Avenue	Fotler St	2021	16,804	0.35 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
17928 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
17490 Views
65 Sold

Bill Asher

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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Jeff Lefko

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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