Super Star Car Wash | Corporate SLB | 20-Yr NNN
Retail | 5.50% CAP | 6,208 SqFt
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, Super Star Car Wash investment property located in Riverside, California. At the close of escrow, the tenant will sign a brand-new, 20-year lease with 2 (5-year) and 1 (4-year and 11-months) option to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Super Star Car Wash currently operates 117+ locations and has plans to accelerate business growth following a recent agreement from TSG Consumer Partners, a leading private equity firm, to acquire majority stake in the company.
Mister Car Wash, Caliber Car Wash, Tommy’s Express, Splash, Zips, Autobell, Quick Quack, True Blue, Driven Brands, Wash Depot, White Water, El Car Wash, Super Star Car Wash
Investment highlights
- The tenant signed a new 20 year lease with 2 (5-year) and 1 (4-year and 11-months) option to extend, demonstrating their commitment to the site
- The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
- Express car wash concepts are typically the highest profit-generating car wash model with internet-resistant and recession-proof business models
- Strong EBITDAR Coverage | Speak with Agent for Details
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