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2015 2nd St - Club Car Wash 5,602 SF Specialty Building Offered at $6,360,000 at a 6.01% Cap Rate in Coralville, IA 52241
INVESTMENT HIGHLIGHTS
- Absolute NNN, 20-Year Sale-Leaseback
- 100% Bonus Depreciation
- 2.00% Annual Increases
EXECUTIVE SUMMARY
• Single-Tenant Club Car Wash Sale-Leaseback:
° Corporately guaranteed lease by Club Car Wash
° Absolute NNN Lease with zero landlord responsibilities
° 20-year initial lease term with four 5-year options
° 2.00% annual increases during primary term and options
• About Club Car Wash:
° 235+ locations across 13 states throughout the Midwest, Texas & Colorado
° Private equity backed by multi-billion dollar firm, Wildcat Capital Management
° Travis Kelce, Star Tight-End for the KC Chiefs is a co-owner, and is the official car wash of
the KC Chiefs
° Expanding rapidly through acquisition & greenfield development
° Corporately guaranteed lease by Club Car Wash
° Absolute NNN Lease with zero landlord responsibilities
° 20-year initial lease term with four 5-year options
° 2.00% annual increases during primary term and options
• About Club Car Wash:
° 235+ locations across 13 states throughout the Midwest, Texas & Colorado
° Private equity backed by multi-billion dollar firm, Wildcat Capital Management
° Travis Kelce, Star Tight-End for the KC Chiefs is a co-owner, and is the official car wash of
the KC Chiefs
° Expanding rapidly through acquisition & greenfield development
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $6,360,000 | Building Class | B |
| Price Per SF | $1,135.31 | Lot Size | 1.08 AC |
| Sale Type | Investment | Building Size | 5,602 SF |
| Cap Rate | 6.01% | No. Stories | 1 |
| Sale Condition | Sale Leaseback | Year Built | 2021 |
| Property Type | Specialty | Opportunity Zone |
Yes
|
| Property Subtype | Car Wash |
| Price | $6,360,000 |
| Price Per SF | $1,135.31 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Sale Condition | Sale Leaseback |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.08 AC |
| Building Size | 5,602 SF |
| No. Stories | 1 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
1 1
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 1006284006 | Improvements Assessment | $712,200 |
| Land Assessment | $574,500 | Total Assessment | $1,286,700 |
PROPERTY TAXES
Parcel Number
1006284006
Land Assessment
$574,500
Improvements Assessment
$712,200
Total Assessment
$1,286,700
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2015 2nd St - Club Car Wash
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