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 Macomb, Michigan. The subject property was built in 1993 and has operated successfully for the last 29 years. In 2021, 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% 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 the Northeast corner lot of Milano Drive, and 23 Mile Road, which provides direct access interstate 94. 23 Mile Road is a main corridor in the area and serves over 27,4000 vehicles per day. Nationally recognized tenants such as CVS, Home Depot, McDonalds, Kroger, Papa John's, BP, Walgreens, Taco Bell and Dollar Tree 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!