13620 Horizon Blvd - Car Washes FOR SALE


Horizon City, TX 79928 | 
$5,825,000 USD
646-453-7786
13620 Horizon Blvd, Horizon City, TX for Sale
$5,825,000 USD
Car Washes - FOR SALE
1/12
null | 5.5% Cap Rate

13620 Horizon Blvd
Horizon City, TX 79928


HIGHLIGHTS

  • 2023 Construction | 18+ Years Remaining | Options To Extend |1.5% Annual Rental Increases | Corporate Guaranty
  • Strong Store Performance | 3X Rent Coverage Ratio
  • Strong Frontage & Excellent Visibility
  • Adjacent To New Commercial Developments
  • Prime Retail Corridor | Proximity To Top-Performing Walmart

OVERVIEW

SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest in a 2023-constructed Mister Car Wash investment property located in Horizon City, Texas (El Paso MSA). The property has more than 18 years of primary lease term remaining with four (4) additional 5-year renewal options and 1.5% annual rental increases throughout the primary term and option periods, providing long-term income stability and steady NOI growth. The lease is backed by an unconditional guaranty from Car Wash Partners, LLC, a corporate subsidiary of Mister Car Wash, Inc., the largest car wash operator in North America. The subject property also demonstrates strong store performance, evidenced by a 3x rent coverage ratio, reflecting the location’s ability to comfortably support its rental obligations.

FOR SALE DETAILS

PRICE

$5,825,000 USD

PRICE/SF

$893 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mister Car Wash | 18+yrs Corp Abs NNN

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,945 SF

ZONING

C-2

APN/PARCEL ID

H772-000-0010-0150

ASK ABOUT THIS PROPERTY

Richard DorfmanSRS National Net LeaseMore Info
646-453-7786

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Richard DorfmanSRS National Net LeaseMore Info
646-453-7786

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.