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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
26379069
26379068

2550 FM Hwy 365, Port Arthur, TX 77640

GK
NY 49KU1129178
SURMOUNT
MA
NY 10401294046
SURMOUNT
FP
NY 10401333619
SURMOUNT
CM
SURMOUNT
Listed by SURMOUNT
$9,629,286
297 days on market
Updated 28 days ago

Strickland Brothers Oil Change & Car Wash

Details
Property Type Special Purpose
Sub Type Car Wash, Oil Change
Square Footage 6,907
Cap Rate 7%
NOI $674,050
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 20.1
Lease Expiration 03/31/2043
Remaining Term 16.8
Year Built 2019
Acreage 1.700
Tenant Credit Corporate Guarantee
Lease Commencement 03/09/2023

Special Purpose | 7.00% CAP | 6,907 SqFt

Marketing description

Surmount is pleased to present the exclusive listing for a Strickland Brothers Car Wash located at 2550 FM Hwy 365, Port Arthur, TX 77640. The site consists of roughly 6,907 rentable square feet of building space on an estimated 1.7-acre parcel of land. This Strickland Brothers Car Wash is subject to a 20 Years-year Triple Net (NNN) lease, which commenced 3/9/2023. The current annual rent is $674,050 and has scheduled increases of 2.00% annually.

Investment highlights

  • Bonus Depreciation Opportunity | The property qualifies for 100% bonus depreciation, offering investors significant tax advantages in the early years of ownership. These incentives enhance after-tax cash flow and improve overall investment returns, making this asset especially attractive for buyers seeking efficient tax treatment on real estate holdings. SURMOUNT is not a tax advisor. Please consult your own tax professional.

  • Long-Term Tiple-Net (NNN) Lease | The property features an original 20-year absolute triple-net (NNN) lease, with over 17.5 years of term remaining, offering true passive ownership. With zero landlord responsibilities and a national brand tenant in place, the investment offers predictable cash flow and minimal management.

  • Strong Corporate Guarantee | The lease features a strong corporate guarantee from SB PEP Holdco, LLC, ensuring financial backing from the parent entity of Strickland Brothers. Strickland Brothers is a rapidly growing operator of oil change and car wash locations and currently operates over 250 locations across the United States.

  • Income Tax Free State | Texas is 1 of 9 income tax free states in the United States. Ownership of an asset in an income tax free state can provide several benefits to landlords. Discuss with a Certified Public Accountant for further details.

Listing Contacts

GK
NY 49KU1129178
SURMOUNT
MA
NY 10401294046
SURMOUNT
FP
NY 10401333619
SURMOUNT
CM
SURMOUNT
Listed by SURMOUNT

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$674,050.00
$56,170.83/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Brian Brockman
License
701472
Brokerage
Bang Realty-Texas, Inc
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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