Listed by SURMOUNT
$3,665,802
Tsunami Express Car Wash
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 4,219
Cap Rate 6.25%
NOI $229,113
Occupancy 100%
Tenancy Single
Brand/Tenant Tsunami Express Car Wash
Lease Type NNN
Lease Expiration 12/31/2049
Remaining Term 23.5
Price per SqFt $869
Year Built 2022
Acreage 0.620
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
Retail | 6.25% CAP | 4,219 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Tsunami Express Car Wash located at 515 East Southway Blvd, Kokomo, IN 46908. The site consists of roughly 4,219 rentable square feet of building space on an estimated 0.62-acre parcel of land. The current annual rent is $229,113 and has scheduled increases of 1.90% annually.
Investment highlights
- Over 23.5 Years Remaining | The property is backed by a new NNN lease, offering investors stable and passive income with zero landlord obligations. Rent is scheduled to increase by 1.90% annually providing consistent cash flow growth.
- Bonus Depreciation | This property offers 100% bonus depreciation, offering notable tax advantages in the early years of ownership. This form of depreciation enhances after-tax cash flow and adds to overall investment returns, making this property ideal for investors looking for tax treatment on real estate holdings. Surmount is not a tax advisor. Please consult your own tax professional.
- High Traffic Counts | The subject property benefits from being located directly on East Broad St, which sees high traffic counts of over 21,000 vehicles daily. This provides the real estate with exceptional visibility and accessibility to an array of potential customers each day.
- Modern, High-Throughput Car Wash Design | Built with a modern 4,219 SF prototype, the site features an advanced tunnel layout with energy-efficient systems and high-capacity equipment, allowing for rapid service and consistent traffic throughput that supports Whistle Express membership-based revenue model.
Listing Contacts
Listed by SURMOUNT
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$229,113.00
$19,092.75/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
