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Views: 0 DOM: 46 Updated: 11.28.23 Posted: 10.27.23 Status: Active

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 3,760
Lease Start 11-01-2023
#Units 88
Price/SF $1,276.60
Expiration 10-31-2043
Tenant Type Automotive
NOI $300,000
R. Term 19.10
Ownership Fee Simple
Rent/SF $79.79
Increases 1.3%/1/yrs
Pop 5Mi 107,437
Lot/AC 1.61
Options 4/5yrs
AHHI 5Mi $49,976

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 increase throughout the initial term and FMV at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Freeman Spogli & Co.

Location Description

WhiteWater Express Car Wash is strategically situated along Navarre Avenue, benefiting from an average daily traffic count of 23,000 vehicles. The property enjoys close proximity to nationally recognized retailers, including Kroger, Walmart Supercenter, Big Lots, Chipotle, and Harbor Freight Tools. Furthermore, it provides direct access to Oregon Town Center, a mixed-use development. The...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 7,948 44,127 97,320
2023 Total Population : 8,097 44,646 98,429
2023 Employed Civilian Pop : 3,937 18,983 39,861
2023 Total Businesses : 369 1,182 3,706
2023 Average Household Income : $ 86,129 $ 66,813 $ 61,991
2023 Total Consumer Spending : $ 270 M $ 1083 M $ 2254 M
2023 Median Age : 47 38 37
2023 Total Households : 3,616 18,503 41,341
2023 Pop Age 25+: Bachelor's Degree : 924 3,114 7,076
2023 Average Home Value : $ 193,060 $ 158,564 $ 150,670
*ESRI data is presented for informational purposes only

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