Pegasus Investments Real Estate Advisory Inc., in cooperation with ParaSell, Inc., as exclusive advisors to the Seller, is pleased to present the opportunity to acquire the fee simple interest in a corporate Mister Car Wash located at 1435 W. River Road in Tucson, Arizona (the “Property”). The Property comprises ± 2,780 SF on a ± 1.11 acre parcel and was built in 2008. Strategically positioned along West River Road immediately west of North La Cañada Drive, an intersection carrying approximately 65,000 vehicles per day, the site benefits from excellent visibility and consistent consumer traffic. Located within the Casas Adobes/Catalina Foothills corridor, one of Tucson’s most established and affluent trade areas, the Property benefits from strong demographics, including 12,230 residents within one mile at an average household income of $84,006 and 206,000 residents within five miles with an average household income of $82,500.
The Property is secured by a 100% Absolute NNN fee simple lease (land & building) with no landlord responsibilities, offering investors the most passive form of commercial real estate ownership. Under the One Big Beautiful Bill passed in July 2025, investors may immediately depreciate the full cost of qualifying property, including building and equipment, enhancing cash flow from day 1, with potential year-one tax savings exceeding $1.15M*. The lease has approximately 10 years of term remaining alongside four (4), 5-year renewal options, providing long-term occupancy that is supported by 2% annual rent increases throughout the base term and each option period, delivering built-in rent growth throughout the term. Additionally, the lease is corporately guaranteed by the corporate operating entity for Mister Car Wash, reinforcing the investment’s secure profile. The tenant has consistently delivered above average topline revenue throughout its 10-years of successful operating history at the subject property. Coupled with the low rent, estimated to be roughly 30% below the national average for Mister Car Wash, is generated exceptional EBITDA coverage margins, more than double what the average corporate store is generating (unit level financial information available to qualified Buyer under NDA).
Mister Car Wash is the largest conveyorized car wash operator in North America, with 549 locations across 21 states and first quarter 2026 net revenues of $277.9 million, a 6% year-over-year increase. The company’s Unlimited Wash Club is the largest car wash subscription program in North America, with approximately 2.5 million members generating 76% of total wash sales and providing a durable base of recurring revenue. Critically, Mister Car Wash has been headquartered in Tucson since 1998, making the Property a home-market asset for its operator. In May 2026, Leonard Green & Partners, the company’s controlling shareholder since 2014, completed a take-private of Mister Car Wash, reinforcing institutional confidence in the brand’s long-term trajectory.
The Property is further supported by strong surrounding retail, including a grocery-anchored center directly across River Road that is headlined by an Albertsons that draws approximately 615,000 annual visitors. Nearby co-tenancy includes a Whataburger that ranks as the #2 store in Arizona and a First Watch, the fastest-growing breakfast concept in America, which ranks in the 91st percentile statewide and 84th percentile nationally, per Placer.ai. Tucson is Arizona’s second-largest metropolitan area, with approximately 1.09 million residents and an economy anchored by aerospace and defense, higher education, government, and healthcare. In 2026, RTX/Raytheon ranked as the largest manufacturer in the State of Arizona by employee count with approximately 13,000 local employees, while the University of Arizona brings roughly 54,000 students and 16,000 employees into the city. Northwest Tucson is the metro’s tightest retail submarket at just 2.5% vacancy, reflecting sustained demand and constrained new supply along the corridor.