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2549 E Griffin Pky - Rapid Express Car Wash 5,322 SF Specialty Building Offered at $4,491,400 at a 6% Cap Rate in Mission, TX 78572
INVESTMENT HIGHLIGHTS
- 20-Year Sale-Leaseback
- Fixed rental increases throughout the entire lease including options
- Very experience operator with 46 locations and expanding aggressively
- Absolute NNN – No landlord management obligations
- This location has been in operation for over 14 years
- Texas has NO STATE INCOME TAX
EXECUTIVE SUMMARY
CBRE is pleased to present the exclusive listing for the Rapid Express Car Wash located at 2549 Griffin Pkwy, in Mission, TX The site consists of 4,466 total square feet of
building space and sits on 1.23 acres of land. The site will be subject to a 20 year sale-leaseback with Rapid Express Car Wash. Starting in year one, the base rent shall be
$ 269,484. The lease will call for 1.50% annual rental escalations during the base term and throughout the (4) five-year renewal option periods (40 year total term).
2549 Griffin Parkway in Mission, TX is extremely well located due to its high-visibility frontage on a major arterial road (FM 495), strong co-tenancy with national retailers
like HEB and AutoZone, and dense surrounding demographics that support repeat traffic and membership models. The site benefits from over 74,000 residents within a
3-mile radius, and vehicle ownership patterns ideal for car care services. Its layout and zoning support express tunnel formats, and the presence of Rapid Express Car Wash
already signals strong market viability for this type of operation.
building space and sits on 1.23 acres of land. The site will be subject to a 20 year sale-leaseback with Rapid Express Car Wash. Starting in year one, the base rent shall be
$ 269,484. The lease will call for 1.50% annual rental escalations during the base term and throughout the (4) five-year renewal option periods (40 year total term).
2549 Griffin Parkway in Mission, TX is extremely well located due to its high-visibility frontage on a major arterial road (FM 495), strong co-tenancy with national retailers
like HEB and AutoZone, and dense surrounding demographics that support repeat traffic and membership models. The site benefits from over 74,000 residents within a
3-mile radius, and vehicle ownership patterns ideal for car care services. Its layout and zoning support express tunnel formats, and the presence of Rapid Express Car Wash
already signals strong market viability for this type of operation.
PROPERTY FACTS
| Price | $4,491,400 | Property Subtype | Car Wash |
| Price Per SF | $1,005.69 | Building Class | B |
| Sale Type | Investment NNN | Lot Size | 1.23 AC |
| Cap Rate | 6% | Building Size | 4,466 SF |
| Sale Condition | Sale Leaseback | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2011 |
| Zoning | CO - Commercial Office | ||
| Price | $4,491,400 |
| Price Per SF | $1,005.69 |
| Sale Type | Investment NNN |
| Cap Rate | 6% |
| Sale Condition | Sale Leaseback |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.23 AC |
| Building Size | 4,466 SF |
| No. Stories | 1 |
| Year Built | 2011 |
| Zoning | CO - Commercial Office |
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PROPERTY TAXES
| Parcel Number | T4525-00-000-0001-00 | Improvements Assessment | $375,488 |
| Land Assessment | $496,620 | Total Assessment | $872,108 |
PROPERTY TAXES
Parcel Number
T4525-00-000-0001-00
Land Assessment
$496,620
Improvements Assessment
$375,488
Total Assessment
$872,108
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2549 E Griffin Pky - Rapid Express Car Wash
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