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18625 Monterey Rd - ABS. NET 20-YR CAR WASH | BONUS DEPRECIATION 7,430 SF Specialty Building Offered at $8,346,116 at a 5.75% Cap Rate in Morgan Hill, CA 95037
INVESTMENT HIGHLIGHTS
- 20 Year Absolute Net Lease (Zero Landlord Obligations) Featuring Favorable 1.5% Annual Rental Increases Throughout the Initial Term and Options.
- Service-Based, Internet Resistant, and Recession-Proof Investment Poised for Long-Term Success.
- Merger Creates the Largest Independent Car Wash Operator in Texas and Top 15 in the Nation. Strong Unit Economics and Consistent Membership Growth.
- 100% Bonus Depreciation - Fee Simple Ownership of a Car Wash Provides Significant Tax Savings to the Landlord via the Accelerated Bonus Depreciation.
- The Car Wash Business is a Highly Segmented $15 Billion Industry that is growing at 3.2% Annually.
- Immediate Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics.
EXECUTIVE SUMMARY
Absolute Net 20-Year Car Wash | #1 in Texas and Top 15 Nationally | 100% Bonus Depreciation | 1.5% Annual increases
PROPERTY FACTS
| Price | $8,346,116 | Building Class | B |
| Price Per SF | $2,308.75 | Lot Size | 1.26 AC |
| Sale Type | Investment | Building Size | 3,615 SF |
| Cap Rate | 5.75% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2023 |
| Property Subtype | Car Wash |
| Price | $8,346,116 |
| Price Per SF | $2,308.75 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.26 AC |
| Building Size | 3,615 SF |
| No. Stories | 1 |
| Year Built | 2023 |
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Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 764-10-008 | Improvements Assessment | $1,040,000 |
| Land Assessment | $1,649,850 | Total Assessment | $2,689,850 |
PROPERTY TAXES
Parcel Number
764-10-008
Land Assessment
$1,649,850
Improvements Assessment
$1,040,000
Total Assessment
$2,689,850
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18625 Monterey Rd - ABS. NET 20-YR CAR WASH | BONUS DEPRECIATION
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