2900 Mayfield Rd - Car Washes FOR SALE


Cleveland Heights, OH 44118
$2,696,714 USD
818-859-9391
2900 Mayfield Rd, Cleveland Heights, OH for Sale
$2,696,714 USD
Car Washes - FOR SALE
1/9
null | 7% Cap Rate

2900 Mayfield Rd
Cleveland Heights, OH 44118


OVERVIEW

LONG-TERM PASSIVE INVESTMENT: Whistle Express recently executed a brand new 20-Year NNN Lease with 2% annual increases backed by Express Car Wash, LLC (Corporate Entity with over 150 units under management). CORPORATE BACKED INVESTMENT: Formerly known as Magnolia Wash Holdings, Whistle Express is the 10th largest car wash operator, having grown to over 150 locations following a significant growth capital investment from Oaktree Capital Management LP ($172B in AUM). HIGH BARRIERS TO ENTRY & AUTOMOTIVE SYNERGIES: Limited opportunities for new express car wash or automotive use developments. Close proximity to 6 dealerships and automotive service centers. BONUS & ACCELERATED DEPRECIATION: Express car washes qualify for 15-Year Accelerated Depreciation as well as Bonus Depreciation. Consulting your accountant or tax attorney is advised. CLEVELAND HEIGHTS SUBMARKET: Densely populated & highly affluent market with 1.7% submarket vacancy (general retail). 17,429 population in a 1-Mile Radius with an average Household Income of $77,576.

FOR SALE DETAILS

PRICE

$2,696,714 USD

PRICE/SF

$1,079 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

-

APN/PARCEL ID

684-06-005,684-06-007,684-06-008

ASK ABOUT THIS PROPERTY

Thiago DeliaMatthews Real Estate Investment ServicesMore Info
818-859-9391

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Thiago DeliaMatthews Real Estate Investment ServicesMore Info
818-859-9391

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