2345 Oneal Ln - Car Washes FOR SALE


Baton Rouge, LA 70816
$4,218,750 USD
714-874-4004
2345 Oneal Ln, Baton Rouge, LA for Sale
$4,218,750 USD
Car Washes - FOR SALE
1/4
null | 6% Cap Rate

2345 Oneal Ln
Baton Rouge, LA 70816


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 30,000 Vehicles Per Day on O'Neal Ln and close to 116,500 Vehicles Per Day on Interstate 12.
  • GREAT LOCATION - Well-located asset within the growing Baton Rouge MSA. Positioned directly next to Dollar General and near more than 80 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.

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 2015 and has operated successfully for the last 8 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 O'Neal Ln (AADT count of over 30,000), which provides direct access to interstate 12 (AADT count of over 115,000). Nationally recognized tenants such as Walmart, Dollar Tree, Target, Best Buy, AutoZone Auto Parts, Take 5 Oil Change, AMC, Chic-fil-A, McDonald's, Sonic, Popeye's, Taco Bell, Waffle House, Sonic, Popeye's, 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

$4,218,750 USD

PRICE/SF

$1,054 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

2015

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.18 AC

LAND SF

51,401 SF

ZONING

-

APN/PARCEL ID

3276139

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.