Whistle Express Car Wash - Pharr, TX
Special Purpose | 6.00% CAP | 3,034 SqFt
Marketing description
Marcus & Millichap is pleased to present for sale this Whistle Express Car Wash located at 701 W Ridge Road in Pharr, Texas, a key city within the McAllen– Edinburg–Mission Metropolitan Statistical Area with a population of more than 900,000 residents. This freestanding, single-tenant property features a 3,034-square-foot building situated on a 1.65-acre parcel, and is secured by a brand-new 25-year absolute NNN lease with a corporate guarantee.
Pharr is strategically located in the Rio Grande Valley along the U.S.–Mexico border, serving as a major port of entry and international trade hub. The Pharr– Reynosa International Bridge is one of the largest commercial crossings in the country, facilitating billions in trade annually and driving the local economy. The city also benefits from its proximity to McAllen International Airport, South Texas College with over 28,000 students, and multiple regional healthcare systems, including Rio Grande Regional Hospital and Doctors Hospital at Renaissance.
The property is supported by strong surrounding demographics, with 166,425 residents within a five-mile radius and projected population growth exceeding regional averages. The area also offers excellent residential density with nearby multifamily communities, retail centers, and continued development activity fueling demand.
The lease commenced on January 1, 2025, and runs through December 31, 2049, providing investors with long-term, stable cash flow and zero landlord responsibilities. The lease includes 2 percent annual rental increases beginning January 1, 2029, along with four five-year renewal options, ensuring built-in income growth and long-term security.
Whistle Express Car Wash is the largest express car wash operator in the United States with more than 540 locations across 23 states and over 2,000 employees. Headquartered in Charlotte, North Carolina, the company has grown rapidly since its founding in 2014, including the transformative 2025 acquisition of Take 5 Car Wash from Driven Brands, which solidified its position as the nation’s market leader.
Investment highlights
■ Brand-New 25-Year Corporate Lease | Commenced January 2025, Expiring December 2049
■ Long-Term Lease | 24+ Years Remaining on the Initial Term
■ Attractive Annual Rental Increases | Two Percent (2%) Annual Increases Beginning January 2029
■ Absolute NNN Lease | Zero Landlord Responsibilities
■ Corporate Guarantee | Backed by Whistle Express Car Wash Corporate
■ Eligible for 100% Bonus Depreciation | Potential Tax Advantages via Accelerated Depreciation
■ Largest Express Car Wash Operator in the U.S. | 530+ Locations Across 23 States with Oaktree Capital Backing
■ Neighboring Tenants Include: H-E-B Plus!, McDonald’s, Walmart Supercenter, Burlington, Sam’s Club, Lowe’s, Costco, Starbucks, CVS, Whataburger, IHOP, and numerous others.
■ Proximity to South Texas College with 8,340+ Enrolled Students and Rio Grand Valley College with More than 700 Enrolled Students
■ Qualifies for Bonus Depreciation (Consult CPA)
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
