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WhiteWater Express Car Wash
835 West Princeton Drive, Princeton, TX 75407
$4,690,000
Cap Rate 6.40%
Summary
| Price $4,690,000 | Built/Renov 2019 | Tenant WhiteWater Express Car Wash |
| Cap Rate 6.40% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
5,123
| Lease Start
11-16-2020
| #Units
100
|
| Price/SF $915.48 | Expiration
12-31-2040
| Tenant Type Automotive |
| NOI $300,000 | R. Term 17.0 | Ownership Fee Simple |
| Rent/SF
$58.56
| Increases 1.3%/1/yrs | Pop 5Mi 34,463 |
| Lot/AC 1.19 | Options 4/5yrs/1.25% | AHHI 5Mi $100,159 |
| | |
Lease Highlights
- WhiteWater Express Car Wash has 17+ years remaining on 20-year initial lease term with 4 (5-year) options to extend
- The 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 along Princeton Drive seeing 31,000 vehicles per day. The site is across from two future shopping centers, Princeton Crossroads (66 acres), and a Market Street grocery-anchored shopping center; co-tenants in the center include Chipotle, 7 Brew, Salad and Go, Club Pilates, UPS, Blaze Pizza, and The Learning Experience. Neighboring...
...Features
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Near major nationals
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Highway location
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Top 100 MSA
-
Income tax free state
-
Population increase trend
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Long 15+ yr lease
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Absolute NNN
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Accelerated depreciation
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Annual rent increases
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Corporate Guarantee
...
Maps
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,...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 11,877 | 42,151 | 54,092 |
| 2023 Total Population : | 11,108 | 31,479 | 41,495 |
| 2023 Employed Civilian Pop : | 5,912 | 16,633 | 21,629 |
| 2023 Total Businesses : | 116 | 388 | 572 |
| 2023 Average Household Income : | $ 105,045 | $ 102,971 | $ 107,755 |
| 2023 Total Consumer Spending : | $ 305 M | $ 900 M | $ 1255 M |
| 2023 Median Age : | 35 | 36 | 37 |
| 2023 Total Households : | 3,366 | 10,094 | 13,456 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,654 | 4,369 | 5,816 |
| 2023 Average Home Value : | $ 400,663 | $ 363,047 | $ 395,091 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| West Princeton Drive | Tickey Dr | 2020 | 32,670 | 0.64 mi |
| W Princeton Dr | Ticky Dr | 2018 | 31,284 | 0.64 mi |
| Co Rd 978 | W Princeton Dr | 2004 | 270 | 0.65 mi |
| W College Ave | Prairie Creek Dr | 2009 | 10 | 0.72 mi |
| Simpson Rd | Pvt Rd 5096 | 2009 | 160 | 0.98 mi |
| N 1st St | E Gantt St | 2009 | 170 | 1.06 mi |
| West Princeton Drive | S 3rd St | 2021 | 32,504 | 1.07 mi |
| E Princeton Dr | S 3rd St | 2018 | 27,023 | 1.07 mi |
| E College Ave | E Gantt St | 2002 | 390 | 1.08 mi |
| Longneck Road | Co Rd 461 | 2019 | 2,480 | 1.10 mi |
