Listed by ParaSell Inc, CrownPoint Partners
$5,700,000
Tommy's Express Car Wash | 19 Yr Abs Net | Annual Inc.
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 4,551
Cap Rate 6.50%
NOI $370,482
Tenancy Single
Brand/Tenant Bluewave Car Wash, Mister Car Wash
Lease Type Absolute NNN
Lease Expiration 06/29/2045
Rent Bumps Yes
Lease Options 2X 5 YEAR
Broker Co-Op True
Year Built 2020
Buildings 1
Acreage 0.860
Parking Spaces 12 spaces
Parking per 1,000 SqFt 2.64
Investment Type Net Lease
Lease Commencement 06/30/2025
Ground Lease No
6.50% Cap Rate | 19 Yr Abs Net | 1.9% Annual Inc.
Investment highlights
PROPERTY HIGHLIGHTS
- 19+ Years Remain on Absolute Net Lease
- Zero Landlord Responsibilities
- Attractive 1.9% Annual Rent Increases
- Build to Suit Location, Constructed in 2020 with High Capital Contribution by Tenant
- 17,000 Vehicles Pass the Site Daily on W Bridge Street, the Main Thoroughfare through Wausau Connecting to US Highway 51 and US Highway 2
- Tenant is a Growing Franchisee with Deep Roots in Wisconsin and the Midwest
- Guarantee is Comprised of Five Separate Locations
- Tommy's is one of the Nation's Premier, Vertically Integrated Car Wash Brand with 272 Existing Locations and 64 in the Pipeline
- Synergistic Corridor, Surrounded by National Retailers such as Dunkin, CVS, Pick N Save, Walgreens, Fas Fuel, Kwik Trip, Culvers and More
- 55,075 People in a 5-Mile Radius with a Healthy Average Household Income of $81,409
- 100% Bonus Depreciation Available. Consult Cost Segregation Advisor for More Information. Recommendations Available
LOCATION HIGHLIGHTS
- Positioned at the Entrance of an Industrial Hub that is Home to 1 Million SF of Industrial & Warehouse Space
- 1.9 Miles from Aspirus Wausau Hospital and Medical Campus - Aspirus Health has Nearly 14,000 Team Members Across its Systems with 130+ Locations
- Aspirus Wausau Hospital is Currently Undergoing a $227 Million Expansion to Add 48 Immediate Care Beds and a 16 Bed Observation Unit
- 1.9 Miles from Rasmussen University - Wausau, which is Known for its Strong Nursing Program with Hands-On Clinical Training
- Adjacent to Subject is an Industrial Park that is Home to in Industrial Park include United Healthcare, Graphic Packaging International, A Star Cleaning and Will Heating & Cooling
- Nearby Schools Include Grant Elementary, Wausau West High School, Newman Catholic (Elementary, Middle & High School)
- Less than 100 Miles to Green Bay and Equidistant from the Major Metros Of Minneapolis and Milwaukee (~180 Miles Away)
Listing Contacts
Listed by ParaSell Inc, CrownPoint Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$370,482.00
$30,873.50/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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