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- LoopNet Team
7959 Balboa Ave
San Diego, CA 92111
Specialty Property For Sale
·
4,046 SF
INVESTMENT HIGHLIGHTS
- 20 Year Absolute Net Leased Investment Opportunity with Personal Guaranty
- Wash N’ Go Express Car Wash – Established in San Diego with 4 locations in operation and 2 more under construction
- Busy commuter corridor of Balboa Ave & Convoy Drive, Balboa Ave sees over 55,000 Vehicles Per Day
- Internet Resistant & Highly Profitable Express Car Wash Model
- Take massive accelerated depreciation tax benefits on building
PROPERTY FACTS
| Property Type | Specialty | Building Size | 4,046 SF |
| Property Subtype | Car Wash | No. Stories | 1 |
| Building Class | B | Year Built | 2017 |
| Lot Size | 0.65 AC | Parking Ratio | 5.88/1,000 SF |
| Zoning | C | ||
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.65 AC |
| Building Size | 4,046 SF |
| No. Stories | 1 |
| Year Built | 2017 |
| Parking Ratio | 5.88/1,000 SF |
| Zoning | C |
AMENITIES
- Bus Line
- Signage
ABOUT 7959 BALBOA AVE , SAN DIEGO, CA 92111
The Totah Group of Marcus & Millichap is pleased to exclusively market for sale the fee simple interest of Wash N’ Go located on 7959 Balboa Ave, San Diego, California 92111. Strategically located in Kearny Mesa, one of San Diego’s largest industrial submarkets, and because it is situated in the heart of the county, along the I-15, I-805, I-8, 52, and the 163, it enjoys easy freeway access. Constructed in 2017, the site consists of 3,400 total square feet of building space and sits on .65 acres of land. The site will be subject to a 20 year sale-leaseback with Wash N’ Go. The lease will call for 10% percent rental increase every five years, with four (4) 5-year option periods. The lease is personally guaranteed for the first 8 years and transitioning into a corporate guarantee for the remainder of the lease. Investors have the security of valuable leasehold improvements in the form of expensive car wash equipment that can qualify for accelerated depreciation giving the investor extensive tax advantages. The express car wash model is highly recession-proof because it is a low-cost alternative to the more expensive full-service hand-wash formats. This business model also offers the speed and convenience increasingly demanded by time-starved, value-conscious consumers.
PROPERTY TAXES
| Parcel Number | 356-310-05 | Improvements Assessment | $848,966 |
| Land Assessment | $5,306,040 | Total Assessment | $6,155,006 |
PROPERTY TAXES
