Absolute Net Investment - Gilbert Auto Service and Carwash
Retail | 6.75% CAP | 4,306 SqFt
Marketing description
Located in the heart of Gilbert’s thriving Ray Road corridor, this well-maintained express car wash investment at 615 W Ray Rd offers a rare opportunity to acquire a stabilized, tenant-operated asset in a high-traffic retail and residential trade area. The property features a 100-foot express wash tunnel designed for speed and convenience, supported by three automated credit card kiosks with license plate recognition at the entrance and a covered canopy at both the entry and tunnel exit for efficient vehicle flow and customer comfort.
The main structure includes approximately 3,400 square feet of interior space, featuring three dedicated detail bays that complement the express wash operations. The site is equipped with 12 vacuum stations and modern tunnel equipment, both less than three years old and certified, ensuring reliable performance and minimal near-term capital requirements.
Investment highlights
Stable Cash-Flowing Asset (NNN Lease Structure) 100% occupancy!
Fully leased investment with tenants operating under a triple net (NNN) lease, minimizing landlord responsibilities and providing passive income with expenses largely covered by tenants.
Strong In-Place Income – $216,000 NOI
Property generates $18,000/month ($216K annually) in net operating income, offering immediate yield with no lease-up risk.
Attractive 10-Year Lease with Built-In Growth
Long-term lease in place (executed 2022) with 3% annual rent escalations, ensuring consistent income growth and inflation hedge.
Bonus Income Clause – $250K Upside
Unique lease provision requiring tenant to pay $250,000 to ownership upon sale of their business, creating a built-in capital event upside while maintaining lease continuity.
Dual-Tenant Synergy (Car Wash + Oil/Lube Service)
Complementary automotive uses drive consistent traffic and repeat customer base, enhancing tenant stability and long-term viability.
Significant Capital Improvements (~$1M Invested)
Recent upgrades to the property reduce near-term capital expenditure risk and support long-term tenant retention.
Experienced Operator in Place
On-site management with 20+ years of industry experience, providing operational stability and reducing tenant default risk.
High-Demand Gilbert Location
Strategically positioned in one of the fastest-growing and most affluent submarkets in the Phoenix MSA, with strong demographics, traffic counts, and continued population growth.
True Passive Investment Opportunity
Ideal for investors seeking mailbox money with minimal management, backed by a service-oriented tenant in a resilient automotive sector.
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