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Views: 63 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 19.5
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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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 : 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

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