Property History
Property Type
Property Type
Marketing Description
This is an absolute net ground lease with no landlord responsibilities. The ground lease is for 20 years with the base term expiring in July of 2028. There are two ten year option periods extending the lease to 2048. The current annual rent is $96,400 with a rent increase to $97,500 in 2023. Should they exercise their options, the annual rent increases to $105,000 for option 1 and $110,000 for option 2.
The express car wash property was built in 2007 as a Mr. Bubbles, which was acquired by Mister Car Wash. It is part of the 5.4 acre Black Rock Commons shopping center. Located in Houston, Texas at 15232 Wallisville Road. It is next door to a Walmart Supercenter and across the street from the 275,000 square foot New Forest Crossing Shopping Center anchored by Lowes, Ross, 99 Cents Only.
Mister Car Wash Holdings, Inc is the largest car wash operator in the US with over 300 car washes locations in 21 states. Headquartered in Tucson, AZ, Mister Car Wash is an operating company of Leonard Green & Partners.
The ground lease is offered free and clear at $1,575,000 | 6% CAP.
The express car wash property was built in 2007 as a Mr. Bubbles, which was acquired by Mister Car Wash. It is part of the 5.4 acre Black Rock Commons shopping center. Located in Houston, Texas at 15232 Wallisville Road. It is next door to a Walmart Supercenter and across the street from the 275,000 square foot New Forest Crossing Shopping Center anchored by Lowes, Ross, 99 Cents Only.
Mister Car Wash Holdings, Inc is the largest car wash operator in the US with over 300 car washes locations in 21 states. Headquartered in Tucson, AZ, Mister Car Wash is an operating company of Leonard Green & Partners.
The ground lease is offered free and clear at $1,575,000 | 6% CAP.
Investment Highlights
- Absolute Net Ground Lease in High Traffic Corridor
- Strong Credit and Unit Level Operations
- Limited Car Wash Competition in the Area
- Over 94,000 VPD on Wallisville & Beltway 8
- High Average Household Income to Support Business Traffic
Loan History
Financial History
Tax History
Contact Information
These phone numbers and email addresses are checked against the litigator and TCPA lists. Report an error
Ownership Information
Property Details
There are no additional details for this property
Contacts
Listing removed on
BY:
Dakota Workman PRO
•••.•••.7151
••••kman@••••••••.com
Listing removed on
BY:
Kelley Workman
•••-•••-1234
••••kman@••••••••.com
Map
Comparable Properties
Does any data look off? Help us improve Crexi by offering your feedback!
