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Quick Quack Car Wash Ground Lease, Grand Terrace, CA

Quick Quack Car Wash Ground Lease, Grand Terrace, CA


Investment Summary

Price $3,085,000
Cap Rate 5.35%
NOI $165,000
Lease Term 20 years
Lease Type Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size 3,596 SF
Lot Size 1.37 acres (59,677 SF)
Status Available
Lead Brokers Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

ABSOLUTE NNN GROUND LEASE – NO LANDLORD OBLIGATIONS
» Brand new absolute NNN ground lease with rapidly growing tenant
» 10% rental increases every five (5) years
» Four (4) five (5) year lease extension options
» 20-year ground lease with full lease term remaining
» Quick Quack Car Wash is America’s 4th largest car wash chain with over 200 locations across Arizona, California, Colorado, Texas, and Utah
» Excellent customer experience and turn around, Quick Quack locations can service over 165 vehicles per hour
» 17 new Quick Quack Car Wash locations opening soon in California and Texas

STRONG LOCATION NEAR HIGH TRAFFIC THOROUGHFARES
» Convenient access to over 175,000 vehicles per day from Interstate 215 and over 193,000 vehicles per day from nearby Interstate 10
» Located only minutes away from prime community hubs such as University of California Riverside (26,847 students), Downtown San Bernadino (222,101 residents), Agua Mansa Industrial Corridor (40,000 employees), and many others
» Proximity to other top national tenants such as Circle K, Starbucks, Taco Bell, Grocery Outlet, Dollar Tree, Bank of America, McDonald’s, AutoZone Auto Parts, Stater Bros Markets, and others
» Surrounded by numerous schools including Grand Terrace High School (1,955 students), Colton High School (2,122 students), and Grand Terrace Elementary School (650 students), providing a built-in customer base
» Located within 10 miles of major local hospitals such as Arrowhead Regional Medical Center (456 beds; 4,000+ employees), Riverside Community Hospital (517 beds; 800+ physicians and 2,500+ staff), and Kaiser Permanente Fontana Medical Center (420 beds; 400+ physicians and 5,000+ support staff)
» 225,317 residents live within a five mile radius of this car wash
» Surrounded by affluent residents with an average annual household income of $97,561 within one mile radius of the property

NEW 2024 HIGH QUALITY CONSTRUCTION
» Brand new development, built by the tenant to their exact specifications
» Located in San Bernadino County, California’s 5th largest county – Home to 2,195,000 residents

Property Description

» High-Visibility Location: This Quick Quack Car Wash is prominently positioned at the southeast corner of Michigan Street and Commerce Way, just off Interstate 215 (177,000 AADT)
» Outparcel to Stater Bros Markets: The location is an outparcel to a Stater Bros Markets-anchored shopping center that includes national retailers such as AutoZone Auto Parts and McDonald’s
» Reliable Customer Base: The site greatly benefits from
its close proximity to prime community hubs such as University of California Riverside (26,847 students), Downtown San Bernadino (222,101 residents), Agua Mansa Industrial Corridor (40,000 employees), and many others
» Beneficial Proximity to Schools: Colton High School, Grand Terrace High School, and Grand Terrace Elementary School are located within five miles from the property, providing consistent traffic from the combined 4,700+ students and families from these schools
» Beneficial Proximity to Hospitals: Arrowhead Regional Medical Center, Riverside Community Hospital and Kaiser Permanente Fontana Medical Center are located within five miles from the property, serving as another source of consistent traffic
» Excellent Demographics: More than 225,000 residents live within a five-mile radius of the subject property, while the average annual household income within a one-mile radius is nearly $100,000

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