20311 Highland Rd - WhiteWater Express Car Wash
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20311 Highland Rd - WhiteWater Express Car Wash
3,434 SF Speciality Building Offered at £3,635,008 at a 6% Net Initial Yield in Baton Rouge, LA 70817
Investment Highlights
- LONG TERM LEASE - The subject property has over 18 years remaining on the initial term of a Corporate Absolute NNN Lease.
- EXCELLENT VISIBILITY - The immediate area sees over 16,600 Vehicles Per Day on Highland Rd and close to 37,100 Vehicles Per Day on U.S Highway 61.
- RENTAL INCREASES - 1.25% Annual Rental increases throughout the base term gives the investor the ability to hedge against inflation.
- BONUS DEPRECIATION - Fee simple ownership of a Car Wash provides the landlord the opportunity to use accelerated Bonus depreciation model.
- GREAT LOCATION - Well-located asset within the growing Baton Rouge MSA. Positioned directly next to Dollar General and near more than 90 retailers.
- STRONG CORPORATE GUARANTOR - 100+ Locations by the end of 2022 backed by over 50 years of combined car wash experience between managing partners and P
Executive Summary
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 Baton Rouge, Louisiana. The subject property was built in 2012 and has operated successfully for the last 11 years. In 2022, 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 1.25% 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 Gratiot Ave (which serves over 20,000 vehicles per day), between 24 Mile Road and 23 Mile Road which provides direct access interstate 94. Nationally recognized tenants such as 7-Eleven, CVS, Target, Lowe's, Meijer, Chase, Hobby Lobby, Aldi, Applebee's, Taco Bell, McDonalds and Buffalo Wild Wings 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!
The original corporately guaranteed lease has over 18 years remaining on its initial term. This absolute NNN lease has a 1.25% 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 Gratiot Ave (which serves over 20,000 vehicles per day), between 24 Mile Road and 23 Mile Road which provides direct access interstate 94. Nationally recognized tenants such as 7-Eleven, CVS, Target, Lowe's, Meijer, Chase, Hobby Lobby, Aldi, Applebee's, Taco Bell, McDonalds and Buffalo Wild Wings 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!
Property Facts
| Price | £3,635,008 | Building Class | B |
| Price Per SF | £1,059 | Lot Size | 0.86 AC |
| Sale Type | Investment | Building Size | 3,434 SF |
| Net Initial Yield | 6% | Number of Floors | 1 |
| Property Type | Speciality | Year Built/Renovated | 2012/2022 |
| Property Subtype | Car Wash |
| Price | £3,635,008 |
| Price Per SF | £1,059 |
| Sale Type | Investment |
| Net Initial Yield | 6% |
| Property Type | Speciality |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.86 AC |
| Building Size | 3,434 SF |
| Number of Floors | 1 |
| Year Built/Renovated | 2012/2022 |
Amenities
- Signage
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PROPERTY TAXES
| Parcel Number | 02317389 | Improvements Assessment | £26,342 |
| Land Assessment | £20,577 | Total Assessment | £46,920 |
PROPERTY TAXES
Parcel Number
02317389
Land Assessment
£20,577
Improvements Assessment
£26,342
Total Assessment
£46,920
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20311 Highland Rd - WhiteWater Express Car Wash
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