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10561 Hole Avenue - Super Star Car Wash | 20yr Corp Abs NNN 6,208 SF Specialty Building Offered at $6,818,000 at a 5.50% Cap Rate in Riverside, CA 92505
Investment Highlights
- New, 20-Year Lease | 10% Scheduled Increases | Strong EBITDAR Coverage
- On/Off Ramp Access State Hwy 91 (215,000 VPD) | Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area | Target Demographic
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, Super Star Car Wash investment property located in Riverside, California. At the close of escrow, the tenant will sign a brand-new, 20-year lease with 2 (5-year) and 1 (4-year and 11-months) option to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Super Star Car Wash currently operates 117+ locations and has plans to accelerate business growth following a recent agreement from TSG Consumer Partners, a leading private equity firm, to acquire majority stake in the company.
Property Facts
Amenities
- Signage
1 1
Fairly walkable
50/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 143-080-035 | Improvements Assessment | $2,514,300 |
| Land Assessment | $3,433,320 | Total Assessment | $5,947,620 |
Property Taxes
Parcel Number
143-080-035
Land Assessment
$3,433,320
Improvements Assessment
$2,514,300
Total Assessment
$5,947,620
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10561 Hole Avenue - Super Star Car Wash | 20yr Corp Abs NNN
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