Views: 0 DOM: 81 Updated: 11.28.23 Posted: 09.21.23 Status: Active


Price $4,880,000
Built/Renov 2023
Tenant WhiteWater Express Car Wash
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,756
Lease Start 09-15-2023
#Units 88
Price/SF $1,299.25
Expiration 08-31-2043
Tenant Type Automotive
NOI $300,000
R. Term 19.8
Ownership Fee Simple
Rent/SF $79.87
Increases 1.3%/1/yrs
Pop 5Mi 178,625
Lot/AC 0.93
Options 4/5yrs/1.25%
AHHI 5Mi $81,225

Lease Highlights

  • Brand new 2023 construction
  • WhiteWater Express Car Wash recently signed a brand new 20-year lease with 4 (5-year) options to extend
  • Lease features 1.25% annual rental increases throughout the initial term and during each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Freeman Spogli & Co.

Location Description

This newly constructed WhiteWater Express Car Wash is conveniently located along Central Avenue, the area’s primary retail corridor which sees in excess of 26,500 vehicles per day. The property is surrounded by over one dozen car dealerships along Central Avenue, including Ford, Buick GMC, Mazda, Nissan, and more, creating strong crossover business. Nearby tenants include Walmart Supercenter,...



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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,...



  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,953 64,401 177,092
2023 Total Population : 6,024 65,270 179,267
2023 Employed Civilian Pop : 2,873 33,096 89,194
2023 Total Businesses : 390 3,413 6,693
2023 Average Household Income : $ 97,355 $ 108,566 $ 91,909
2023 Total Consumer Spending : $ 228 M $ 2714 M $ 6140 M
2023 Median Age : 43 44 40
2023 Total Households : 2,707 28,981 77,054
2023 Pop Age 25+: Bachelor's Degree : 808 11,757 27,395
2023 Average Home Value : $ 206,653 $ 243,204 $ 211,831
*ESRI data is presented for informational purposes only


Collection Street Cross Street Year Traffic Vol Distance
West Central Avenue Elmont Rd 2021 28,285 0.13 mi
North Holland Sylvania Road Huntingfield Blvd 2021 17,721 0.26 mi
N Holland Sylvania Ave Bonsels Pkwy 2008 17,380 0.29 mi
W Central Ave Fairbanks Ave 2010 32,340 0.37 mi
N Holland Sylvania Ave Elmer Dr 2001 19,400 0.53 mi
Moffat Rd W Central Ave 2004 8,700 0.62 mi
RAMP FROM US20-120 TO IR475-23 NB W Central Ave 2021 11,527 0.70 mi
RAMP FROM IR475-23 NB TO US20-120 Triple Crown Ln 2021 9,461 0.71 mi
North Reynolds Road Central Ave W 2021 15,662 0.71 mi
I- 475 W Central Ave 2004 10,600 0.71 mi

Listing Broker

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