WhiteWater Express Car Wash
Toledo, OH
Key Details
| Price: | $4,860,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $303,750 |
| Address: | 5762 Central Avenue, Toledo, Ohio 43615 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 19 Years |
|---|---|
| Lease Commencement: | 12/1/2023 |
| Lease Expiration: | 1/30/2043 |
| Lease Term Remaining: | 18.1 Years |
| Rental Increases: | 1.25% Annually |
| Lot Size: | 0.93 Acres |
| Building Size: | 3,756 SF |
| Year Built: | 2023 |
NNN Pro is pleased to present the exclusive listing for a WhiteWater Express Car Wash located at 5762 Central Avenue, Toledo, Ohio 43615. The site consists of roughly 3756 rentable square feet of building space on an estimated 0.93-acre parcel of land. This WhiteWater Express Car Wash is subject to a 19-year Triple Net (NNN) lease, which commenced 12/1/2023. The current annual rent is $303,750 and has scheduled increases of 1.25% Annually.
About the Investment
- Strong Corporate Guarantee | This lease is subject to a strong corporate guanrantee from WhiteWater Express Car Wash, which has grown to over 100 locations thoughout Texas, Oklahoma, Louisana, Michigan, Ohio, and Kentucky.
- Long-Term Absolute Triple Net (NNN) Lease | The subject investment property features an absolute triple-net (NNN) lease that has over 19 years of term remaining. Attractive Rental Increases This lease features 1.25% annual rental increases, hedging against
- Bonus Depreciation | This property qualifies for 15-year accelerated depreciation as well as bonus depreciation. Discuss with a Certified Public Accountant for further details
Key Details
| Price: | $4,860,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $303,750 |
| Address: | 5762 Central Avenue, Toledo, Ohio 43615 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 19 Years |
|---|---|
| Lease Commencement: | 12/1/2023 |
| Lease Expiration: | 1/30/2043 |
| Lease Term Remaining: | 18.1 Years |
| Rental Increases: | 1.25% Annually |
| Lot Size: | 0.93 Acres |
| Building Size: | 3,756 SF |
| Year Built: | 2023 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Alexandre Marietto
amarietto@nnnpro.com
License: NY: 10401294047
Amelia Haydock
ahaydock@nnnpro.com
License: NY: 10401334976
Walker Stevens
wstevens@nnnpro.com
License: NY: 10401381479
Broker of Record
Brian Brockman
Bang Realty, Inc
License: BRK.2009000214
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.