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8585 E Ridge Rd - Circle K Car Wash | 7yrs Remain Corp Abs NNN 5,940 SF Specialty Building Offered at $3,793,000 at a 6.75% Cap Rate in Hobart, IN 46342
Investment Highlights
- 7 Years Remaining | Options To Extend | Scheduled Rental Increases | Circle K Credit
- Signalized, Hard-Corner Intersection (37,000 VPD) | Strong National/Credit Tenant Presence
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
• The tenant will have 7 years of term remaining with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features annual increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation
• The lease is backed by Circle K, while the car wash is branded True Blue
• The lease features annual increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation
• The lease is backed by Circle K, while the car wash is branded True Blue
Property Facts
| Price | $3,793,000 | Lot Size | 0.58 AC |
| Price Per SF | $1,384.31 | Building Size | 2,740 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 6.75% | Year Built | 2019 |
| Property Type | Specialty | Parking Ratio | 17.52/1,000 SF |
| Property Subtype | Car Wash | No. Drive In / Grade-Level Doors | 8 |
| Building Class | C | ||
| Zoning | B-3 | ||
| Price | $3,793,000 |
| Price Per SF | $1,384.31 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 2,740 SF |
| No. Stories | 1 |
| Year Built | 2019 |
| Parking Ratio | 17.52/1,000 SF |
| No. Drive In / Grade-Level Doors | 8 |
| Zoning | B-3 |
Amenities
- Signage
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Property Taxes
| Parcel Number | 45-09-28-126-002.000-018 | Improvements Assessment | $1,016,100 |
| Land Assessment | $573,000 | Total Assessment | $1,589,100 |
Property Taxes
Parcel Number
45-09-28-126-002.000-018
Land Assessment
$573,000
Improvements Assessment
$1,016,100
Total Assessment
$1,589,100
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8585 E Ridge Rd - Circle K Car Wash | 7yrs Remain Corp Abs NNN
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