Listed by Sands Investment Group Austin, Sands Investment Group Los Angeles, Sands Investment Group, Sands Investment Group Charleston
$5,003,035
Mister Car Wash - American Fork, UT
Details
Property Type Retail
Sub Type Storefront, Auto Shop
Square Footage 11,725
Cap Rate 7.25%
NOI $362,727
Occupancy 100%
Tenancy Single
Brand/Tenant Mister Car Wash
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 09/30/2033
Remaining Term 7.2
Rent Bumps Yes
Lease Options 4 x 5 Year Options
Price per SqFt $427
Acreage 1.140
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/26/2013
Ground Lease No
Back to Market | Amazing Real Estate | Top Credit in the Industry
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 11,725 SF Mister Car Wash located at 83 NW State Road in American Fork, UT. This deal includes an Absolute Triple Net (NNN) Lease (Zero Landlord Responsibilities) and a corporate guaranty from the largest car wash operator in the country, which has been in business since 1969, providing for a secure investment.
Investment highlights
- Absolute NNN Lease, Zero Landlord Responsibilities: Corporate-guaranteed lease with over 7 years of primary term remaining (expires 9/30/2033) plus 4 x 5-year renewal options extending potential hold to 2053. Rent escalates via CPI annually, capped at 2%, with the tenant responsible for taxes, insurance, CAM, roof/structure, and all repairs and maintenance.
- Institutional Credit Just Got Stronger: $3.1B Take-Private by Leonard Green & Partners: On February 17, 2026, Mister Car Wash entered a definitive merger agreement to go private at $7.00/share cash, backed by Leonard Green & Partners, one of the most established consumer/services-focused private equity firms in the country. The transaction signals institutional conviction in the durability of Mister Car Wash's cash flows and positions the guarantor behind a well-capitalized sponsor going forward (subject to customary closing conditions).
- Scaled, Growing National Platform: Mister Car Wash now operates 549 locations as of Q1 2026 (up from 500 at the time of the prior offering), and full-year 2025 net revenue crossed $1 billion for the first time — $1,051.7MM, up 6% year-over-year — with Adjusted EBITDA growing 8% to $345.4MM.
- Recurring, Subscription-Driven Revenue Model: The Unlimited Wash Club (UWC) has grown to approximately 2.5 million members (+11% YoY) and now accounts for 76% of total wash sales, up from 71% previously — reinforcing a recession-resistant, membership-based revenue base rather than reliance on one-off transactions. Q1 2026 net revenue rose 6% to $277.9MM with net income up 26.7%.
- Outparcel to The Meadows, American Fork's Dominant Power Center: The property sits within a shopping corridor anchored by Target, Walmart Supercenter, Costco Wholesale, Lowe's, Barnes & Noble, Best Buy, TJ Maxx, Kohl's, HomeGoods, Ross, Burlington, and Ulta, alongside high-volume QSR draws including In-N-Out Burger, Chick-fil-A, Five Guys, and Olive Garden.
- Direct Interstate Visibility: Positioned near the I-15/Veterans Memorial Highway interchange, which carries nearly 197,000 VPD, with additional frontage on State Street (32,199 VPD) and Pioneer Crossing (37,623 VPD) — placing the site at one of Utah County's busiest retail intersections.
- Affluent, Dense Infill Trade Area: Over 168,800 residents and average household income of $149,767 within a 5-mile radius, with average home values near $662,000 — in American Fork, part of Utah's "Silicon Slopes" tech corridor within the Provo-Orem MSA, one of the fastest-growing metro economies in the country.
- Tax-Advantaged Structure: Property qualifies for bonus depreciation, offering accelerated cost segregation benefits for qualifying buyers (consult your tax advisor).
Listing Contacts
Listed by Sands Investment Group Austin, Sands Investment Group Los Angeles, Sands Investment Group, Sands Investment Group Charleston
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$362,727.00
$30,227.25/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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