Quick Quack Car Wash Ground Lease, Alvin, Texas

1483 E. Hwy 6 no-imageVIEW MAP

Property Information

Price: $2,530,000
Cap Rate: 5.0%
NOI: $126,500
Lease Term: 20 Years
Lease Type: Absolute NNN Ground Lease
Building Size: Approximately 4,112 Square Feet
Year Built: 2022
Status: Available
Lead Broker Information:

Randy Bell

bell@realcapitalinvestments.com

214-380-3670
Marketing Package

Property Description

***NOI is based on the upcoming increase in October 2027. As such, the purchase price is based on the rent effective that date***

Investment Highlights

  • 20 Year Absolute NNN Ground Lease with 16 Years Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Four (5-Year) Options to Renew
  • 10% Rental Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Corporately Guaranteed Lease by Quick Quack Car Wash – Quick Quack is a Best in Class, Leading Car Wash Tenant Founded in 2004 That Operates More Than 350 Locations in 9 Different States
  • New Construction, Pride of Ownership Asset Featuring Quick Quack’s Latest Prototype Design – a Modern and Aesthetically Pleasing Property
  • Intrinsic Value – Large Format Car Wash at 4,112 Square Feet on a Sizeable 1.03 Acre Parcel with 23 Vacuum Spaces, 3 Payment Lanes & 1 Main Wash Bay, Providing Quick Quack with the Ability to Effectively Handle High Customer Volume
  • High Traffic Location – More Than 32,000 Vehicles Per Day on E. Hwy 6 & Over 55,000 Vehicles Per Day on Alvin Bypass (TX-35)
  • Ideal Demographics – Over 55,000 People within a 5-Mile Radius of the Property with Average Household Income Exceeding $119,762 Annually
  • Strategically Positioned Adjacent to a Walmart Supercenter That Has Seen More Than 3.02 Million Visits Over the Last Calendar Year
  • Over 2.1 Million Square Feet of Industrial & Office Space and 2.7 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 1,700 Businesses & 14,500 Employees
  • Tremendous Recent Growth – More Than 14% Population Growth in a 5-Mile Radius of the Property Since the 2000 Census
  • Approximately 30 Miles from Downtown Houston – The Largest City in Texas & 4th Most-Populus City in the United States with a Population Exceeding 2.39 Million Residents – More Than 7.79 Million People Reside in the Greater Metro Area
  • Within a 5-Mile Radius of 23 Primary, Higher Education & Private Grade Schools That Have More Than 24,000 Combined Students Enrolled
  • Strong Multi-Family Density with Over 3,200 Apartment Units in a 5-Mile Radius of the Property
  • Texas is an Income Tax Free State with the Strongest and Fastest Growing Economy in the United States, Providing an Ideal Location for a 1031 Exchange Asset