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WhiteWater Express Car Wash
1378 West 1st Street, Springfield, OH 45504
$4,800,000
Cap Rate 6.25%
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 19.10 | 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...
...Features
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New construction
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Build to suit
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Dense retail corridor
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Strategically located
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Highway close
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Brand new lease
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Long 15+ yr lease
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Absolute NNN
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Corporate Guarantee
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Over 100 Units backed
...
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 : | 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 |
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 |
