360 N Willowbrook Rd - WhiteWater Express Car Wash
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
360 N Willowbrook Rd - WhiteWater Express Car Wash
4,620 SF Specialty Building Offered at $6,024,838 CAD at a 6% Cap Rate in Coldwater, MI 49036
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 - Site is visible from Interstate 69 with 20,500 Vehicles Per Day and 20,640 Vehicles Per Day on Chicago Street.
- STRONG CORPORATE GUARANTOR - 100+ Locations by the end of 2022 backed by over 50 years of combined car wash experience.
- BONUS DEPRECIATION - Fee simple ownership of a Car Wash provides the landlord the opportunity to use accelerated Bonus depreciation model.
- RENTAL INCREASES - 1% Annual Rental increases throughout the base term gives the investor the ability to hedge against inflation.
- ZERO LANDLORD RESPONSIBILITIES - Absolute NNN Lease. Ideal for Investors not Local to the Market or looking for a "hands o?" investment
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 Coldwater, Michigan. The subject property was built in 2002 and has operated successfully for the last 20 years. In 2021, 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% 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 at the fully signalized intersection of Willowbrook Road, and Chicago Street, which provides direct access interstate 69. Chicago Street a main corridor in the area and serves over 20,000 vehicles per day. Nationally recognized tenants such as Walmart, Home Depot, Meijer, Auto Zone, Harbor Freight Tools, Aldi, Applebee's, Taco Bell, Speedway 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% 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 at the fully signalized intersection of Willowbrook Road, and Chicago Street, which provides direct access interstate 69. Chicago Street a main corridor in the area and serves over 20,000 vehicles per day. Nationally recognized tenants such as Walmart, Home Depot, Meijer, Auto Zone, Harbor Freight Tools, Aldi, Applebee's, Taco Bell, Speedway 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 | $6,024,838 CAD | Building Class | C |
| Price Per SF | $1,304 CAD | Lot Size | 1.17 AC |
| Sale Type | Investment | Building Size | 4,620 SF |
| Cap Rate | 6% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2002 |
| Property Subtype | Car Wash | Parking Ratio | 2.6/1,000 SF |
| Price | $6,024,838 CAD |
| Price Per SF | $1,304 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | C |
| Lot Size | 1.17 AC |
| Building Size | 4,620 SF |
| No. Stories | 1 |
| Year Built | 2002 |
| Parking Ratio | 2.6/1,000 SF |
1 of 1
PROPERTY TAXES
| Parcel Number | 302-000-001-035-05 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $393,997 CAD |
PROPERTY TAXES
Parcel Number
302-000-001-035-05
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$393,997 CAD
zoning
| Zoning Code | CM |
| CM |
1 of 17
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
360 N Willowbrook Rd - WhiteWater Express Car Wash
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.