Listed by Hanley Investment Group
$3,545,000
Super Star Car Wash
Details
Property Type Retail
Square Footage 4,116
Net Rentable (SqFt) 4,116
Cap Rate 5.5%
NOI $195,000
Occupancy 100%
Tenancy Single
Brand/Tenant Super Star Car Wash
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 11/30/2044
Remaining Term 18.4
Rent Bumps Yes
Lease Options Two 5-Year & One 4-Year 11-Months @ 10% Increases
Price per SqFt $861
Year Built 2026
Buildings 1
Stories 1
Acreage 1.190
Lease Commencement 11/13/2024
Ground Lease Yes
20-Year Absolute NNN Ground Lease | 115+ Unit Multi-State Operator Full Corporate Guaranty
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/SuperStarCarWash_LakeElsinore
Investment highlights
- Brand-New Construction, Corporate Super Star Car Wash:
- 20-year absolute NNN ground lease; corporate guaranty
- 10% increases every 5 years during the base term and each of the option periods
- Super Star Car Wash has 115+ locations across Arizona, California, Colorado, and Texas
- In 2021, TSG Consumer Partners, a leading private equity firm, acquired a majority stake in Super Star Car Wash and will continue to build and accelerate growth for the business (Read More Here)
- 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
- The Property is Part of a New Stater Bros Market Anchored Retail Development: Co-tenants include 7-Eleven, Dutch Bros Coffee, and Pollo Campero
- Located within the Trade Area’s Dominant Retail Corridor: Surrounding shopping centers see 13+ million combined annual visits (Placer.ai)
- Notable Nearby Anchor Tenants include Costco, Lowe’s, Grocery Outlet, Target, Walmart Supercenter, The Home Depot, LA Fitness, PetSmart, and Aldi
- Highly-Visible Retail Shopping Center with Excellent Accessibility, Exposure, and Identity: The subject property is ideally situated on Highway 74/Central Avenue (28,000 CPD), the main retail thoroughfare connecting Orange County to Riverside County
- Immediately adjacent to Interstate-15 (127,000 CPD) just off the Central Avenue Exit
- Growing Trade Area; Booming Economy:
- 2nd fastest growing area in California; a virtual “hot spot” for retail, residential, light industrial, and commercial growth
- More than 22,300 residential units are planned in the city of Lake Elsinore
- 20% population growth within a 5-mile radius from 2010 to 2025
Listing Contacts
Listed by Hanley Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$195,000.00
$16,250.00/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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