$1,885,000
Details
Property Type Special Purpose
Square Footage 5,781
Cap Rate 7.00%
Lease Type NNN
Year Renovated 2019
Acreage 1.200
Special Purpose | 7.00% CAP | 5,781 SqFt
Marketing description
Sale Leaseback Opportunity With Experienced Operator in Place - Collect 132k/yr NNN and Get 100% Bonus Depreciation Year 1!
Investment highlights
1.2 Acres | Building: 5,781 SF
Property Taxes: $35,876 paid by tenant
Car wash operating at this site for 55 years
Newly renovated exterior (2019)
140 Foot Tunnel
Densely populated area 152,000 population within 3 miles
Carwash operator will use some of the proceeds to upgrade all
equipment and signage
Rent: $132,000/yr NNN
Term: 30 years plus two 10-year options
Increases: 10% every 5 Years
Guarantor: Urban XP Holdings (owns 4 carwash locations)
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