Take 5 Car Wash

Mineola, TX

Key Details

Price:$2,561,517
Cap Rate:6.00%
Annual Rent:$153,685
Address:2163 North Pacific Street, Mineola, Texas 75773
Property Type:Retail
Lease Type:Triple Net (NNN)

Property Data

Original Lease Term:20 Years
Lease Commencement:12/1/2021
Lease Expiration:11/30/2041
Lease Term Remaining:16.6 Years
Rental Increases:1.50% Annually
Lot Size:1.15 Acres
Building Size:3,704 SF
Year Built:2020
NNN Pro is pleased to present the exclusive listing for a Take 5 Car Wash located at 2163 North Pacific Street, Mineola, Texas 75773. The site consists of roughly 3704 rentable square feet of building space on an estimated 1.15-acre parcel of land. This Take 5 Car Wash is subject to a 20-year Triple Net (NNN) lease, which commenced 12/1/2021. The current annual rent is $153,685 and has scheduled increases of 1.50% Annually.

About the Investment

  • Long Term Absolute Triple-Net (NNN) Lease | The lease is structured as a triple-net (NNN) lease. Meaning the tenant is responsible for covering all expenses - offering the landlord with a truly passive and predictable income stream.
  • Acceleted and Bonus Depreciation | The subject property is eligible for significant tax benefits, including 15-year accelerated depreciation and bonus depreciation.
  • Excellent Visibility and Frontage | With prime visibility and a commanding presence along North Pacific Street, this property boasts over 13,600 vehicles passing by each day.
  • Proximity to Walmart Supercenter | Situated directly across the street from a Walmart Supercenter, this property guarantees increased foot traffic and heightened visibility.
  • Strong Corporate Guarantee | This site benefits from a strong corporate guarantee from a rapidly growing brand in the car wash sector, Whistle Express is set to become the largest express car wash company in the U.S following its acquisition of Take 5 Car Wash from Driven Brands. The newly combined company now operates 530 locations across 23 states, this expansion strengthens Whistle Express’ leadership in the fast-growing car wash industry.

Talk to the Pros

Headshot

Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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Christopher Urban

curban@nnnpro.com
License: NY: 10401294011
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Brendan Murphy

bmurphy@nnnpro.com
License: NY: 10401389060

Broker of Record

Brian Brockman

Bang Realty-Texas, Inc
License: 701472
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.