Property Details

Sale Leaseback – Express Car Wash – 6.75% Cap Rate

$3,500,000

3,198 +/- SF |

7038 N. 67th Ave.
Glendale, AZ 85031

Price: $3,500,000
Building Size: 3,198 +/- SF
Price/SF:
Property Type: Sale Leaseback
Property Sub-type: Car Wash
No. Stories: 1
Year Built: 2008
Lot Size: 0.67 +/- ac
APN / Parcel ID: 143-28-004V
Listing ID SB001

HIGHLIGHTS

  • Sale Leaseback – 6.75% Cap Rate, NOI $236,250
  • Freestanding building with single tenant – tenant will execute personal guarantee
  • Hard corner intersection with cross access from QuikTrip
  • Great demographics – population over 500,000 within five miles
  • Absolute NNN leased car wash – excellent investment opportunity
  • Tenant is adding pay stations, cosmetic work and updating the tunnel equipment
  • Brand new appraisal and phase I environmental

DESCRIPTION

  • Parcel ID: 143-28-004V
  • Lot size: 0.67 +/- ac
  • Zoning C-2
  • Building size: 3,198 +/- SF
  • Stories: 1
  • Built in 2008
  • Monument sign on 67th

 

LEASE TERMS:

  • Absolute NNN lease
  • Brand new 15-year lease
  • 2 (5-year) options
  • Rent escalators every 5 years at 10% increase
  • Fee simple ownership
  • No landlord responsibilities

 

LOCATION DESCRIPTION:

  • Located on the northwest corner of N. 67th Ave. and W. Glendale Ave.
  • Part of large shopping center that includes QuikTrip, Family Dollar and Dominos
  • Next to Central Self Storage
  • Three convenient ingress/egress’ into shopping center, accessible from all directions
  • 67th Ave. is a 4 lane main road with turn lanes and medians
  • Glendale Ave. is a 5 lane main road with turn lanes and medians
  • 67th Ave. average daily traffic over 23,000 vehicles
  • Glendale Ave. average daily traffic nearly 27,000 vehicles
  • Population: 22,285 (1 mile); 171,222 (3 miles); 518,823 (5 miles)
  • Average household income: $41,699 (1 mile); $49,513 (3 miles); $52,632 (5 miles)

 

Sale Leaseback – Express Car Wash – 6.75% Cap Rate

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