Local Car Wash
Tyler, TX
Key Details
| Price: | $4,588,235 |
|---|---|
| Cap Rate: | 8.50% |
| Annual Rent: | $390,000 |
| Address: | 7671 South Broadway Avenue, Tyler, Texas 75703 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.98 Acres |
| Building Size: | 4,485 SF |
| Year Built: | 2024 |
NNN Pro is pleased to present the exclusive listing for a Local Car Wash located at 7671 South Broadway Avenue, Tyler, Texas 75703. The site consists of roughly 4485 rentable square feet of building space on an estimated 0.98-acre parcel of land. This Local Car Wash is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $390,000 and has scheduled increases of 2.00% Annually.
About the Investment
- Long-Term NNN Lease | This newly constructed site is subject to a 20-year lease set to commence upon the close of escrow, providing long-term stability and income right from the start.
- Attractive Annual Rent Increases and Options | The lease not only spans a substantial 20-year term but also includes 2.00% annual rental increases, ensuring consistent income growth throughout the lease period. This structured rent escalation enhances the property’s long-term revenue potential.
- Experienced Operator With a History of Success | The property benefits from being managed by an experienced operator with a proven track record of success and an in-depth knowledge of the local market. This expertise ensures effective management, strategic tenant selection, and a keen understanding of market trends, all of which contribute to the property's stability and growth potential.
- Accelerated Depreciation | This property qualifies for both accelerated and bonus depreciation, offering significant tax advantages for investors. These depreciation options allow for faster cost recovery, reducing taxable income in the early years of ownership and enhancing cash flow.
About the Location
- Affluent Suburban Community | Households within a 1-mile, 3-mile, and 5-mile radius enjoy average annual incomes exceeding $121,700 and $106,100, and $98,560 respectively, fueling a robust car wash market.
- Strong Retail Corridor | The subject property is located amongst several power centers and retailers including: Walmart, Target, Lowe's, Best Buy, T.J. Maxx, Chick-fil-A, McDonald's, Starbucks, Chili's, KFC, Panera Bread, and more, making a desirable area for consumers.
- Strong Academic Presence | The investment property profits from a strong academic presence, with institutions like the University of Texas Tyler, Tyler Junior College, and Tyler Legacy High School located in the immediate area with over 25,100 students collectively enrolled.
- Strong Traffic Counts | The subject property is alongside S Broadway Avenue, experiencing a daily traffic count of over 38,915 vehicles.
- Tyler Regional Airport | The subject property is near the Tyler Regional Airport, home to several airlines including Delta, United, and Alaska.
Key Details
| Price: | $4,588,235 |
|---|---|
| Cap Rate: | 8.50% |
| Annual Rent: | $390,000 |
| Address: | 7671 South Broadway Avenue, Tyler, Texas 75703 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.98 Acres |
| Building Size: | 4,485 SF |
| Year Built: | 2024 |
Talk to the Pros
Anthony Bird
abird@nnnpro.com
License: NY: 10401306066
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Broker of Record
Brian Brockman
Bang Realty-Texas, Inc
License: 701472
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.