415 N Robinson Dr - Car Washes FOR SALE


Robinson, TX 76706
$5,336,000 USD
929-229-2614
415 N Robinson Dr, Robinson, TX for Sale
$5,336,000 USD
Car Washes - FOR SALE
1/9
null | 6.85% Cap Rate

415 N Robinson Dr
Robinson, TX 76706


HIGHLIGHTS

  • Tenant signed a new 20-year corporate guaranteed lease with 3 (5-year) options | Features 10% rental increases every 5 years
  • Brand new construction with grand opening upcoming in August 2024
  • Directly across from a heavily trafficked Brookshire’s supermarket, which draws over 617,000 visitors annually (per Placer.ai)
  • Located near Robinson’s primary, elementary, intermediate, junior high, and high schools, providing consistent traffic flow
  • More than 68,900 residents and 43,500 employees support the trade area | Affluent average household income of $107,580 in 1-mile radius
  • Waco’s population has experienced a robust annual growth rate of 2.07%, culminating in a 15.39% increase since 2010

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, newly constructed, corporate guaranteed, Mighty Wash investment property located in Robinson, TX (Waco MSA). The tenant recently signed a brand new 20-year lease with 3 (5-year) options to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with no landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor in a state with no state income tax. Mighty Wash is a Texas-based car wash chain founded in Lubbock, Texas, in 2012. Today, Mighty Wash operates 28 locations and counting throughout southeastern New Mexico and west Texas, continuing its commitment to providing high-quality car wash and detailing services.

FOR SALE DETAILS

PRICE

$5,336,000 USD

PRICE/SF

$1,186 USD /SF

CAP RATE

6.85%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mighty Wash Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

-

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

C-2

APN/PARCEL ID

44-003200-032800-9

ASK ABOUT THIS PROPERTY

Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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