20311 Highland Rd - Car Washes FOR SALE


Baton Rouge, LA 70817
$4,640,633 USD
714-874-4004
20311 Highland Rd, Baton Rouge, LA for Sale
$4,640,633 USD
Car Washes - FOR SALE
1/5
null | 6% Cap Rate

20311 Highland Rd
Baton Rouge, LA 70817


HIGHLIGHTS

  • LONG TERM LEASE - The subject property has over 18 years remaining on the initial term of a Corporate Absolute NNN Lease.
  • BONUS DEPRECIATION - Fee simple ownership of a Car Wash provides the landlord the opportunity to use accelerated Bonus depreciation model.
  • EXCELLENT VISIBILITY - The immediate area sees over 16,600 Vehicles Per Day on Highland Rd and close to 37,100 Vehicles Per Day on U.S Highway 61.
  • GREAT LOCATION - Well-located asset within the growing Baton Rouge MSA. Positioned directly next to Dollar General and near more than 90 retailers.
  • RENTAL INCREASES - 1.25% Annual Rental increases throughout the base term gives the investor the ability to hedge against inflation.
  • STRONG CORPORATE GUARANTOR - 100+ Locations by the end of 2022 backed by over 50 years of combined car wash experience between managing partners and P

OVERVIEW

Prime Net Lease is pleased to offer the opportunity to acquire the fee simple interest in a free standing WhiteWater Express Car Wash located in Baton Rouge, Louisiana. The subject property was built in 2012 and has operated successfully for the last 11 years. In 2022, WhiteWater purchased the site from the previous operator and signed a brand new 20-year Absolute NNN lease. The original corporately guaranteed lease has over 18 years remaining on its initial term. This absolute NNN lease has a 1.25% annually rental increases during the base term and grants the Tenant four successive 5-year options to extend the lease. The Property has excellent visibility and is conveniently situated on Gratiot Ave (which serves over 20,000 vehicles per day), between 24 Mile Road and 23 Mile Road which provides direct access interstate 94. Nationally recognized tenants such as 7-Eleven, CVS, Target, Lowe's, Meijer, Chase, Hobby Lobby, Aldi, Applebee's, Taco Bell, McDonalds and Buffalo Wild Wings all surround the Property, further driving consumers to the area. Each WhiteWater Express Car Wash location provides the highest quality car wash services, with professional staff to tend to your every need! Large or small, you can receive an express car wash with high-intensity tri-color polish, wheel cleaning, rainfall rinse, rain repellant glass wax, high gloss tire shine, flash dry, a 3-day rain check guarantee and always FREE Vacuums!

FOR SALE DETAILS

PRICE

$4,640,633 USD

PRICE/SF

$1,351 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

WhiteWater Express Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,462 SF

ZONING

-

APN/PARCEL ID

02317389

ASK ABOUT THIS PROPERTY

Michael MatusikPrime Net LeaseMore Info
714-874-4004

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Michael MatusikPrime Net LeaseMore Info
714-874-4004

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.