Zips Car Wash
Louisville, KY
Key Details
| Price: | $2,686,667 |
|---|---|
| Cap Rate: | 7.65% |
| Annual Rent: | $205,530 |
| Address: | 7773 Dixie Highway, Louisville, Kentucky 40258 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 12/28/2018 |
| Lease Expiration: | 12/31/2038 |
| Lease Term Remaining: | 14 Years |
| Rental Increases: | 1.00% Annually |
| Lot Size: | 0.86 Acres |
| Building Size: | 3,222 SF |
| Year Built: | 2008 |
NNN Pro and Bang Realty are pleased to present the exclusive listing for a Zips Car Wash located at 7773 Dixie Highway, Louisville, Kentucky 40258. The site consists of roughly 3222 rentable square feet of building space on an estimated 0.86-acre parcel of land. This Zips Car Wash is subject to a 20-year Triple Net (NNN) lease, which commenced 12/28/2018. The current annual rent is $205,530 and has scheduled increases of 1.00% Annually.
About the Investment
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Approximately 14 Years Remaining
- 1.00% Rental Increases Occurring Annually
- Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years
- This Property Qualifies for 15-Year Accelerated Depreciation as well as Bonus Depreciation
About the Location
- Dense Retail Corridor | Auto Zone, Popeyes, Walgreens, Circle K, Dollar Tree, Jiffy Lube, KFC, Burger King, Panera, White Castle and Many More
- Strong Demographics | Population Exceeds 152,100 Individuals within a 5-Mile Radius
- Strong Real Estate Fundamentals | Located Approximately 9 Miles from Louisville International Airport | Serves Over 4.2 Million Passengers Per Year
- Strong Traffic Counts | Over 50,500 Vehicles Per Day Along Dixie Highway
- Auto Dealership Corridor| Chrysler Dodge Jeep Ram, Sternberg Chevrolet, and Toyota of Louisville | Within 2-Mile Radius of Subject Property
- Strong Academic Presence | Pleasure Ridge Park High School, Valley Highschool, and Greenwood Elementary School within 3-Mile Radius| Over 2,950 Students Collectively Enrolled
About the Tenant/Brand
- Zips Car Wash has been Successfully Operating Since 2004
- Atlantic Street Capital Recently Announced it has made an Additional $70 Million Investment to Further Support Zips Car Wash
- Over 250 Stores Across the United States | Still Expanding
- Largest Privately Held Car Wash Operator Nationwide
- Over 1,600 Employees
- Brand Offers Four Car Wash Packages as well as Unlimited Wash Club Membership
- The U.S. Car Wash Service Market Size is Expected to Reach USD 20.74 Billion by 2028 and is Expected to Expand at a CAGR of 4.8% From 2021 to 2028
Key Details
| Price: | $2,686,667 |
|---|---|
| Cap Rate: | 7.65% |
| Annual Rent: | $205,530 |
| Address: | 7773 Dixie Highway, Louisville, Kentucky 40258 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 12/28/2018 |
| Lease Expiration: | 12/31/2038 |
| Lease Term Remaining: | 14 Years |
| Rental Increases: | 1.00% Annually |
| Lot Size: | 0.86 Acres |
| Building Size: | 3,222 SF |
| Year Built: | 2008 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Matthew Anuszkiewicz
manuszkiewicz@nnnpro.com
License: NY: 10401294046
Andrew Darby
adarby@nnnpro.com
License: NY: 10401380956
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 204982
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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.