Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction single tenant El Car Wash located at 18155 Mack Avenue in Detroit, Michigan (the “Property”). This is a sale-leaseback of a free-standing single tenant El Car Wash consisting of a single-story 4,700 square foot building on a 1.24-acre parcel. El Car Wash will sign a new 20-year Absolute NNN Lease, with six (6), 5-year renewal options upon the close of escrow. The lease calls for attractive 2.0% annual rent increases throughout the base term and each of the renewal options.
The new construction property is extremely well located along Mack Avenue, the area’s primary commercial and commuter corridor. The Property enjoys outstanding visibility, frontage and access and is in the center of a dense trade area that is home to large shopping centers, national and local retailers, restaurants, and medical facilities, all of which drive traffic to the area. El Car Wash is also within minutes of several area schools and is surrounded densely populated residential neighborhoods and apartment buildings providing a built-in customer base.
The Property is positioned 8 miles northeast of Downtown Detroit adjacent to Grosse Pointe and Gross Pointe Farms, two of the most affluent communities in the Detroit Metropolitan area.