3 Minute Express Car Wash

1075 South Watson Road, Buckeye, AZ 85326

$7,045,480

Cap Rate 5.71%

$6,388,900

Cap Rate 6.30%

DOM: 164 Updated: 08.02.23 Posted: 02.07.23 Status: Sold 07.21.23

Summary

Price $7,045,480 $6,388,900	Built/Renov 2019	Tenant 3 Minute Express Car Wash
Cap Rate 5.71% 6.30%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 7,224	Lease Start 04-06-2023	#Units 4
Price/SF $975.29 $884.40	Expiration 04-05-2042	Tenant Type Automotive
NOI $402,500	R. Term 16.9	Ownership Fee Simple
Rent/SF $55.72	Increases 10.0%/5/yrs	Pop 5Mi 69,574
Lot/AC 4.19	Options 6/5yrs/10%	AHHI 5Mi $94,893

Highlights

3 Minute Express Car Wash has been operating in this location since 2019
The tenant has 19 years remaining on its current lease with 6 (5-year) options to extend
Lease features 10% rental escalations every 5 years throughout the initial term and at each option period
Absolute NNN lease presents zero landlord responsibilities
Property qualifies for 80%-year one bonus depreciation or 15-year accelerated depreciation per IRS 1250 Property Designation
Corporate guarantee by Lindsay Goldberg ("LG"), a New York-based private investment firm

Location Description

3 Minute Express Car Wash is strategically located along South Watson Road which sees 57,200 vehicles per day and in immediate proximity to I-10 (93,425 Cars/Day), a major regional thoroughfare. Located within a dense retail corridor, nearby national tenants include Walmart Supercenter, Fry's, Walgreens, ALDI, Lowe’s, Pet Smart, Jersey Mike’s, Chipotle and many more. The site is also close to...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Freeway close
Top 100 MSA
Population increase trend
Long 20+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Ultra Clean Express Car Wash Wikipedia Buckeye, Arizona Zip Code 85326 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: 3 Minute Express Car Wash
Guarantor:Corporate
Company:Lindsay Goldberg
# Units:4
Stock:Private

About Tenant

Ultra Clean Express ("Ultra Clean") is a leading operator of express car wash facilities with locations throughout the Las Vegas and Phoenix MSAs. Ultra Clean currently has 20 locations, with six...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	14,191	39,829	82,815
2023 Total Population :	12,453	37,026	78,926
2023 Employed Civilian Pop :	5,995	18,270	37,426
2023 Total Businesses :	198	284	686
2023 Average Household Income :	$ 103,984	$ 104,692	$ 108,304
2023 Total Consumer Spending :	$ 348 M	$ 1002 M	$ 2235 M
2023 Median Age :	35	32	33
2023 Total Households :	3,866	11,065	23,899
2023 Pop Age 25+: Bachelor's Degree :	1,402	3,240	7,700
2023 Average Home Value :	$ 343,439	$ 390,370	$ 406,257

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South Watson Road	W Hopi St	2018	16,722	0.32 mi
S Watson Rd	W Hopi St	2015	15,900	0.32 mi
I-10 Exit 116 A-Ramp	I- 10	2020	2,666	0.47 mi
	S Watson Rd	2021	12,914	0.49 mi
North Watson Road	I- 10	2021	2,529	0.53 mi
I- 10	S Watson Rd	2009	42,000	0.54 mi
	S Watson Rd	2021	3,195	0.58 mi
	S Watson Rd	2021	13,490	0.59 mi
S Watson Rd	W Hammond Dr	2014	14,161	0.80 mi
I- 10	S Watson Rd	2015	68,116	1.09 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
36846 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
36966 Views
128 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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