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594 16th St - Mister Car Wash - Holland, MI 6,472 SF Specialty Building Offered at $5,593,000 at a 5.65% Cap Rate in Holland, MI 49423
Investment Highlights
- 100% Bonus Depreciation
- Rare, 2.00% Annual Increases
- Absolute NNN Lease
Executive Summary
• Single-Tenant Mister Car Wash:
° Corporately guaranteed lease by the top car wash operator in the U.S.
° Absolute NNN Lease, zero landlord responsibilities
° 20-year initial lease term with four 5-year options
° 2% annual increases during primary term and options
• About Mister Car Wash (2025 Financial Report):
° 548 locations with numerous new sites set to open in 2026 - #1 largest operator
° Surpassed $1 Billion in total reported revenue in 2025 - becoming the first express car wash brand in history
to break the billion-dollar threshold.
° 2.3 million unlimited wash club members - representing nearly 80% of their total wash sales
° 34 new locations opened from 2024-2025 - About a 7% increase
• Leonard Green Backing:
° Institutional Sponsorship: Leonard Green & Partners is a large-cap private equity firm with nearly $100B
of assets under management, providing deep capital and strategic resources.
° Proven Long-Term Partner: LGP has been invested in Mister Car Wash since 2014 and has played a key
role in scaling the platform into the nation’s largest operator, with plans to significantly expand its national
footprint.
° $3.1B Take-Private (Feb 2026): LGP’s agreement to take Mister Car Wash private underscores strong
conviction in the long-term growth story.
° Accelerated Growth Strategy: Operating outside of public-market
° Corporately guaranteed lease by the top car wash operator in the U.S.
° Absolute NNN Lease, zero landlord responsibilities
° 20-year initial lease term with four 5-year options
° 2% annual increases during primary term and options
• About Mister Car Wash (2025 Financial Report):
° 548 locations with numerous new sites set to open in 2026 - #1 largest operator
° Surpassed $1 Billion in total reported revenue in 2025 - becoming the first express car wash brand in history
to break the billion-dollar threshold.
° 2.3 million unlimited wash club members - representing nearly 80% of their total wash sales
° 34 new locations opened from 2024-2025 - About a 7% increase
• Leonard Green Backing:
° Institutional Sponsorship: Leonard Green & Partners is a large-cap private equity firm with nearly $100B
of assets under management, providing deep capital and strategic resources.
° Proven Long-Term Partner: LGP has been invested in Mister Car Wash since 2014 and has played a key
role in scaling the platform into the nation’s largest operator, with plans to significantly expand its national
footprint.
° $3.1B Take-Private (Feb 2026): LGP’s agreement to take Mister Car Wash private underscores strong
conviction in the long-term growth story.
° Accelerated Growth Strategy: Operating outside of public-market
Property Facts
| Price | $5,593,000 | Building Class | B |
| Price Per SF | $864.18 | Lot Size | 2.00 AC |
| Sale Type | Investment | Building Size | 6,472 SF |
| Cap Rate | 5.65% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2022 |
| Property Subtype | Car Wash | ||
| Zoning | CMU | ||
| Price | $5,593,000 |
| Price Per SF | $864.18 |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 2.00 AC |
| Building Size | 6,472 SF |
| No. Stories | 1 |
| Year Built | 2022 |
| Zoning | CMU |
Amenities
- Signage
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 70-16-33-200-105 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,440,500 |
Property Taxes
Parcel Number
70-16-33-200-105
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,440,500
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594 16th St - Mister Car Wash - Holland, MI
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