Splash Car Wash (Ground Lease) | 125 W Genesee St
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Splash Car Wash (Ground Lease) 125 W Genesee St
3,500 SF Retail Building Fayetteville, NY 13066 £2,817,112 (£805/SF) 6% Net Initial Yield
Investment Highlights
- New 20-Year Absolute NNN Ground Lease
- 40+ Year Automotive Care Company
- Adjacent to Top 4% Most Visited Shopping Center in the U.S.
- Brand New Construction w/ 57K+ VPD Visibility & Direct Access to Interstate 481
- Strong Corporate Guaranty
- Regional Healthcare Hub - Approx. 1,180 Staff Members
Executive Summary
Splash Car Wash was started in 1981 with a single location in Greenwich, Connecticut. Since that time, the company has developed over 80 locations, and currently operates car wash tunnels in Connecticut, Vermont, and New York.
The Property located in Fayetteville, NY is a 2024 state-of-the-art construction and features the latest Splash Car Wash prototype design and architecture. It benefits from a recently executed twenty (20) year absolute NNN ground lease featuring zero landlord responsibilities. The Lease also features attractive rental escalations of and the three (3), five (5) year renewal options.
The Property is ideally positioned next to a Target-anchored shopping center which welcomed approximately 5.9 million shoppers to the area in the past 12 months, making it the most visited community shopping center in a 30-mile radius, the 12th most visited center in New York, and ranking it in the Top 280 most visited shopping centers nationwide. Surrounding tenants include McDonald's, Tops Friendly Markets, YMCA, Kohl's, T.J. Maxx, Walgreens, L.L. Bean, Sephora, and many others
The Property located in Fayetteville, NY is a 2024 state-of-the-art construction and features the latest Splash Car Wash prototype design and architecture. It benefits from a recently executed twenty (20) year absolute NNN ground lease featuring zero landlord responsibilities. The Lease also features attractive rental escalations of and the three (3), five (5) year renewal options.
The Property is ideally positioned next to a Target-anchored shopping center which welcomed approximately 5.9 million shoppers to the area in the past 12 months, making it the most visited community shopping center in a 30-mile radius, the 12th most visited center in New York, and ranking it in the Top 280 most visited shopping centers nationwide. Surrounding tenants include McDonald's, Tops Friendly Markets, YMCA, Kohl's, T.J. Maxx, Walgreens, L.L. Bean, Sephora, and many others
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,500 SF
Building Class
C
Year Built
2024
Price
£2,817,112
Price Per SF
£805
Net Initial Yield
6%
NOI
£169,027
Tenancy
Single
Number of Floors
1
Building FAR
0.09
Lot Size
0.90 AC
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 313801-018-000-0006-007-001-0000 | Improvements Assessment | £0 |
| Land Assessment | £49,316 | Total Assessment | £49,316 |
PROPERTY TAXES
Parcel Number
313801-018-000-0006-007-001-0000
Land Assessment
£49,316
Improvements Assessment
£0
Total Assessment
£49,316
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Splash Car Wash (Ground Lease) | 125 W Genesee St
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