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75015 Sheryl Ave - Harv's Car Wash 17,100 SF Specialty Building Offered at $3,899,000 at a 7.29% Cap Rate in Palm Desert, CA 92211
EXECUTIVE SUMMARY
The Coachella Valley's iconic Harv's Car Wash was built in 1991, and has been a very popular spot in Palm Desert, for customers to have their cars washed and detailed. The current operator has been in the car wash business for over 30+ years, and recently executed a 10 year, single tenant NNN lease. Currently, the lease terms still has approximately 9 years remaining (Exp. 8/31/34).
The current CAP Rate is 7.29%, with the most recent annual Base Rent escalation of 3%.
The Seller had a $300k solar panel system installed on the building in 2018, which has been paid for in full, and is part of the sale.
The current CAP Rate is 7.29%, with the most recent annual Base Rent escalation of 3%.
The Seller had a $300k solar panel system installed on the building in 2018, which has been paid for in full, and is part of the sale.
PROPERTY FACTS
| Price | $3,899,000 | Building Class | B |
| Price Per SF | $228.01 | Lot Size | 0.95 AC |
| Sale Type | Investment | Building Size | 17,100 SF |
| Cap Rate | 7.29% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1991 |
| Property Subtype | Car Wash | Parking Ratio | 0.77/1,000 SF |
| Zoning | C1 | ||
| Price | $3,899,000 |
| Price Per SF | $228.01 |
| Sale Type | Investment |
| Cap Rate | 7.29% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.95 AC |
| Building Size | 17,100 SF |
| No. Stories | 1 |
| Year Built | 1991 |
| Parking Ratio | 0.77/1,000 SF |
| Zoning | C1 |
AMENITIES
- Signage
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PROPERTY TAXES
| Parcel Number | 634-260-020 | Improvements Assessment | $2,125,000 |
| Land Assessment | $575,000 | Total Assessment | $2,700,000 |
PROPERTY TAXES
Parcel Number
634-260-020
Land Assessment
$575,000
Improvements Assessment
$2,125,000
Total Assessment
$2,700,000
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75015 Sheryl Ave - Harv's Car Wash
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