Mighty Wash Car Wash | New 15yr Abs NNN | 1314 S Valley Mills Dr
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Mighty Wash Car Wash | New 15yr Abs NNN 1314 S Valley Mills Dr
4,500 SF Retail Building Waco, TX 76711 £4,595,136 (£1,021/SF) 6.85% Net Initial Yield
Investment Highlights
- Corporate Guaranteed | Brand New 15-Year Lease | Scheduled Rental Increases | Options To Extend
- Near #3 Most Visited H-E-B Nationwide | Dense Retail Corridor | Doris Miller VA Medical Center (204 Beds)
- Special Tax Advantages | Bonus Depreciation
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | No State Income Tax
- Excellent Visibility & Access | Located along S. Valley Drive | On/Off Ramp Access to I-35 (145,700+ VPD) | 2024 Construction
- Strong Demographics In 5-Mile Trade Area | Waco TX
Executive Summary
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 Waco, TX. The tenant recently signed a brand new 15-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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,500 SF
Year Built
2024
Price
£4,595,136
Price Per SF
£1,021
Net Initial Yield
6.85%
NOI
£314,766
Tenancy
Single
Number of Floors
1
Building FAR
0.08
Land Acres
1.36 AC
Zoning
C-2 - Community Commercial District
Parking
27 Spaces (6 Spaces per 1,000 SF Leased)
Frontage
162 ft on Texas 396 Loop
Amenities
- Freeway Visibility
- Signage
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Mighty Was Car Wash
- Service type
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99,999 SF
- -
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Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Mighty Was Car Wash | Service type | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Walk Score ®
Very Walkable (75)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 48-008805-000300-3 | Improvements Assessment | £1,136,113 |
| Land Assessment | £467,767 | Total Assessment | £1,603,879 |
PROPERTY TAXES
Parcel Number
48-008805-000300-3
Land Assessment
£467,767
Improvements Assessment
£1,136,113
Total Assessment
£1,603,879
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Britt Raymond -
Kyle Fant -
Charles Goldman -
SRS Real Estate Partners
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Mighty Wash Car Wash | New 15yr Abs NNN | 1314 S Valley Mills Dr
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