Ultimate Shine Car Wash

Cave Spring, VA

Key Details

Price:$5,720,000
Cap Rate:6.90%
Annual Rent:$394,680
Address:3250 Electric Road, Cave Spring, Virginia 24018
Property Type:Retail
Lease Type:Triple Net (NNN)

Property Data

Original Lease Term:20 Years
Lease Expiration:20 Years from Close of Escrow
Lease Term Remaining:20 Years
Rental Increases:1.50% Annually
Lot Size:1.03 Acres
Building Size:5,106 SF
Year Built:2023
NNN Pro is pleased to present the exclusive listing for a Ultimate Shine Car Wash located at 3250 Electric Road, Cave Spring, Virginia 24018. The site consists of roughly 5106 rentable square feet of building space on an estimated 1.03-acre parcel of land. This Ultimate Shine Car Wash is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $394,680 and has scheduled increases of 1.50% Annually.

About the Investment

  • Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
  • Corporate Guaranty from Ultimate Shine Virginia HoldCo LLC | 30+ Unit Guaranty | Expected to be 40+ by 2025
  • 1.50% Annual Rental Increases

Talk to the Pros

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Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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James Westerberg

jwesterberg@nnnpro.com
License: NY: 10401304686
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Robert Stein

rstein@nnnpro.com
License: NY: 10401341647
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Ryan Morris

rmorris@nnnpro.com
License: NY: 10401337336
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Gordon Pollock

gpollock@nnnpro.com
License: NY: 10401370688

Broker of Record

Brian Brockman

Bang Realty, Inc
License: 225245999
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.