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International Car Wash Group

Pharr, Texas

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Marcus & Millichap is pleased to present the exclusive listing in Pharr, TX. The tenant will enter into a brand new, 20-year triple-net (NNN) lease upon close of escrow with absolutely no landlord responsibilities. The base annual rent will be $210,000 and will be subject to 1.50% annual rental escalations throughout the base term as well as the four, five-year tenant renewal option periods. The lease will have a corporate guarantee. International Car Wash Group operates more than 900 locations throughout the United States and Internationally.

About the Investment
✓ 20-Year Triple-Net (NNN) Sale-Leaseback: At Closing the Tenant Will Execute a
Brand New 20-Year Absolute Triple-Net Lease. The Lease Will Have No Landlord
Responsibilities.
✓ Corporate Guarantee: The Lease is Subject to a Corporate Guarantee by
International Car Wash Group Ltd. (UK) “ICWG” and the More Than 900 Locations
Across Europe, Australia and the U.S.
✓ Accelerated Depreciation: This Property Qualifies for 15 Year Accelerated
Depreciation

Key Details

Price:
$4,200,000
Cap Rate:
5.00%
Annual Rent:
$210,000
Address:
701 W Ridge Rd, Pharr, Texas 78577
Property Type:
Net-Leased Car Wash
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
1.50% Annually
Lot Size:
+/- 1.65 Acres
Building Size:
3,149 SF
Tenant:
International Car Wash Group

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Edward Otocka

License: 10401298466

William Taussig

License: 10401322089

Amelia Haydock

License: 10401334976

Broker of record

Tim Speck

License: 9002994


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