SUN DAY CAR WASH
Special Purpose | 7.77% CAP | 12,998 SqFt
Marketing description
Located in the heart of Highland Park, one of Los Angeles’ fastest-growing urban neighborhoods, Sun Day Car Wash presents a rare opportunity to acquire a stabilized leasehold investment with long-term absolute NNN income. The property features a newly renovated car wash operation positioned along highly trafficked N. Figueroa Street with strong visibility, dense surrounding population, and limited competing supply. The tenant is secured under a long-term lease with annual rent escalations and zero landlord responsibilities, providing passive cash flow in a premier infill Los Angeles location. Surrounded by major national retailers including Food4Less and 7-Eleven, the asset benefits from strong consumer demographics, high commuter traffic, and continued neighborhood growth and revitalization.
Investment highlights
- Stabilized NNN Income Stream (Ground Lease) - Tenant Sun Day Carwash pays $532,000/yr in absolute NNN rent with 2% annual escalations - zero landlord expense obligations. Guaranteed by Sun Day Carwash Inc. corporate guaranty.
- Long-Term Lease with Multiple Options - 20-year initial term commencing February 2024, plus two 5-year and one ~5-year renewal options - providing approximately 35 years of total term. Options exercisable with 210-day notice; no landlord obligation to advise.
- Irreplaceable Los Angeles Location - Positioned on N. Figueroa Street in Highland Park - one of LA's fastest-growing urban neighborhoods. High-traffic corridor with strong daytime population and limited new car wash supply. Land appraised at $1.95M as-if-vacant.
- Clean Lease Structure - Triple net structure with tenant responsible for 100% of operating costs, real property taxes, insurance, and all maintenance including structural. Landlord's sole obligation is ground rent passthrough. No landlord CapEx exposure.
- Two Distinct Exit Strategies - Buyers may acquire the sandwich leasehold for immediate NNN income, or pursue fee simple consolidation by acquiring the underlying ground - unlocking a materially higher exit valuation of $8.5M-$8.6M per independent appraisal.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
