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30091373
30091374

14248 Spring Cypress Rd, Houston, TX 77429

AM
TX 0606255, CA 01391653
Marcus & Millichap - San Diego
JT
CA 02031343
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego
$6,319,262
102 days on market
Updated 0 days ago

ABS. NET 20-YR CAR WASH | #1 IN TEXAS & TOP 15 NATIONALLY

Details
Property Type Retail, Special Purpose
Sub Type Car Wash, Storefront
Square Footage 5,409
Cap Rate 6%
NOI $379,156
Tenancy Single
Brand/Tenant Bluewave Car Wash
Lease Type Absolute NNN
Lease Term 20
Rent Bumps Yes
Class A
Year Built 2022
Acreage 1.000
Tenant Credit Corporate Guarantee
Ground Lease No

Retail | 6.00% CAP | 5,409 SqFt

Marketing description

PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:

https://themansourgroup.com/properties/309788/clearwater-express-car-wash

Investment highlights

  • 20 Year Absolute Net Lease (Zero Landlord Obligations) Featuring Favorable 1.5% Annual Rental Increases Throughout the Initial Term and Options.

  • 100% Bonus Depreciation - Fee Simple Ownership of a Car Wash Provides Significant Tax Savings to the Landlord via the Accelerated Bonus Depreciation Model.

  • Service-Based, Internet Resistant, and Recession-Proof Investment Poised for Long-Term Success: The Car Wash Business is a Highly Segmented $15 Billion Industry that is growing at 3.2% Annually.

  • Merger Creates the Largest Independent Car Wash Operator in Texas and Top 15 in the Nation. Backed by Strong Unit Economics and Consistent Membership Growth. Strategic Alliance with BlueWave Express Creates 90+ Locations Nationwide Reinforces Long-Term Stability, Scale, and Growth Potential.

  • Immediate Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - Near Several Large Retail & Housing Developments / Under Construction.

  • Brand New High Quality Construction with Top of the Line Equipment. Fully Automated Car Wash System Featuring 90’ Tunnel, Double Lane Pay-Stations and 14 Vacuum Bays.

  • Directly Across from Pine Market - Offers 40-Acres of Retail and Service options including Harvest Market as well as Boutiques, Fitness Centers, and Restaurants.

  • Highly Affluent Houston Suburb: Features an Average Household Income of over $162k (more than twice the National Average) within a 3-Mile Radius. Within Woodforest 90-Acre Master Plan - Devoted to Commercial Development such as Schools, a Gas Station, a Pharmacy, Restaurants, Medical Offices, Fitness Facilities, Salons, and more at The Shops at Woodforest and Pine Market.

Listing Contacts

AM
TX 0606255, CA 01391653
Marcus & Millichap - San Diego
JT
CA 02031343
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$379,156.00
$31,596.33/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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