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
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 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
James Westerberg
jwesterberg@nnnpro.com
License: NY: 10401304686
Robert Stein
rstein@nnnpro.com
License: NY: 10401341647
Ryan Morris
rmorris@nnnpro.com
License: NY: 10401337336
Gordon Pollock
gpollock@nnnpro.com
License: NY: 10401370688
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 225245999
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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.