Blue Wave Express Car Wash 2005 Farm to Market 1960 Road West, Houston, TX Cap Rate 6.75% Houston ( Texas, US ) Built

$4,442,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 4,500 sq. ft.
  • Development Level: Built
  • Lot Size: 1.09 acres
  • Year Built: 2020

Description

Blue Wave Express Car Wash 2005 Farm to Market 1960 Road West, Houston, TX Cap Rate 6.75%

Cap Rate: 6.75%
NOI: $299,835
Building Size: 4,500 sqft
Lot Area: 1.09 acres
Occupancy: 100%
Lease Type: Absolute Net
Tenancy: Single
Year Built: 2020

Price: $4,442,000 USD

DESCRIPTION
Corporately operated BlueWave Express Car Wash on Cypress Creek Parkway in Houston, TX.
The subject property was constructed in 2020, and features 23 vacuum bays and two drive-in lanes and express pay terminals, thus allowing for a healthy traffic flow in and out of the premises. Upon close of escrow, BlueWave will commence a 15-year Absolute NNN lease with four 5-year renewal options with 10% rental increases every five years. BlueWave is a proven concept within the growing express car wash sector, having been in operation for over twelve years with a commanding presence within the state of Texas. The sale includes all FF&E (Tenant’s equipment including conveyor car wash system, vacuum bays, and express pay station).

The subject property is located north of Downtown Houston, along the heavily trafficked Cypress Creek Parkway (FM 1960), which boasts daily traffic counts of 49,000 vehicles per day. This BlueWave location sits on a signalized intersection and is easily accessible for cars going both east and west on Cypress Creek Parkway. Westfield High School is just behind the subject property, which has a total enrollment just under 3,000, and surrounding retailers include AutoZone, CVS, McDonald’s and Bank of America.

HIGHLIGHTS
• Brand new 15-year lease commencing upon close of escrow
• Corporate lease backed by a proven and growing operator
• 2020 build-to-suit construction
• Located along a heavily trafficked thoroughfare (49,000 VPD)
• Average household incomes exceed $84,000 within a 5-mile radius
• Infill location just north of Downtown Houston

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.