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Quick Quack Car Wash Ground Lease, Imperial, CA

Quick Quack Car Wash Ground Lease, Imperial, CA


Investment Summary

Price $2,364,000
Cap Rate 5.50%
NOI $130,000
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 ± 3,600 SF
Lot Size 0.56 acres (24,393 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

NEW 20-YEAR ABSOLUTE NNN GROUND LEASE TO THE 4TH LARGEST CAR WASH CHAIN IN THE U.S.
» Brand new 20-year absolute NNN ground lease with no landlord obligations – perfect for an out of town investor
» 10% rental increases every five (5) years and four (4) lease extension options of five (5) years each
» Quick Quack Car Wash is America’s 4th largest car wash chain with over 200 locations across Arizona, California, Colorado, Texas, and Utah
» Ranked #5 in the “Top 50 Largest Car Washes” by Professional Carwashing & Detailing
» With 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
» A service-based, internet-resistant, and recession-proof investment poised for long term success, the car wash business is a highly segmented $15B industry that is growing at 3.2% annually

PRIME LOCATION WITH BENEFICIAL PROXIMITY TO WELL-ATTENDED SCHOOLS
» High-visibility and easily accessible location on North Imperial Ave, near the signalized intersection of North Imperial Avenue (21,300 AADT) and 15th Street
» Across the street from Frank Wright Middle School, servicing 1,023 students and 43 faculty
» Minutes from Imperial High School (1,337 students) and Ben Hulse Elementary School (794 students)
» Located in a newly developed retail corridor with national tenants including Starbucks, McDonald’s, and the United States Postal Service

AFFLUENT AND RAPIDLY GROWING CALIFORNIA CITY
» 47,594 residents live withing five miles of the site, establishing a large and stable customer base for the property
» Surrounded by affluent residents earning an average annual household income of $103,232 within a three-mile radius of the property (projected to increase by more than 14% over the next five years)
» Projected population and AAHI increases within 1-,3-, and 5-mile radii over the next four years poise Imperial and Quick Quack Car Wash for steady concurrent growth
» Gateway to Calexico, which shares its southern border with Mexicali, the capital city of Baja California (population in excess of 1 million people)
» The property serves the Imperial Valley and Mexicali (Mexico), creating a combined primary customer base of approximately 1.5 million people

NEW 2024 HIGH QUALITY CONSTRUCTION
» Brand new 2024 construction, built to Quick Quack Car Wash’s latest prototype

Property Description

» High-Visibility Location: This Quick Quack Car Wash is prominently positioned along North Imperial Avenue, with excellent visibility from State Route 86 /Imperial Avenue (21,300 AADT)
» Reliable Customer Base: The site greatly benefits from its close proximity to residential communities such as Victoria Terraza, Savannah Ranch, Monterey Park, Victoria Park, Tuscany at Victoria Ranch, and Cambria
» Beneficial Proximity to Schools: Imperial High School, Frank Wright Middle School, Ben Hulse Elementary School and Imperial Cross Elementary School are located within three miles from the property, providing consistent traffic from the combined 3,700+ students and families from these schools
» Beneficial Proximity to Car Dealerships: Imperial Valley Volkswagen, United Nissan Imperial, United Toyota Imperial and El Centro Motors are located within four miles from the property, exposing this car wash service to a large customer base
» Excellent Demographics: 47,594 residents live within a five-mile radius of the subject property, while the average annual household income within a three-mile radius is $103,232
» Set Near the U.S.-Mexico Border: The property serves the Imperial Valley and Mexicali (Mexico), creating a combined primary customer base of approximately 1.5 million people

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