3830 N 51st Ave - Specialty FOR SALE


Phoenix, AZ 85031- Maryvale | 
$4,999,999 USD
818-665-9575
3830 N 51st Ave, Phoenix, AZ for Sale
$4,999,999 USD
Specialty - FOR SALE
1/2
null | Request Cap Rate

3830 N 51st Ave
Phoenix, AZ 85031
Maryvale


HIGHLIGHTS

  • Business + Leasehold Acquisition | NNN Ground Lease w/ Zero Landlord Responsibilities
  • ±9 Years Remaining Through 12/2035 w/ Three (3) 5-Year Renewal Options
  • Scheduled 10% Ground Rent Increases Every 5 Years
  • $110,000 Current EBITDA | $400,000 Pro Forma EBITDA (8.00% Yield)
  • Modern 2020 Construction | ±5,970 SF on ±1.10 AC
  • ±41,589 VPD on N 51st Ave Near Signalized Indian School Rd Intersection (36,262 VPD)

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire the Fast Lap Xpress Wash operating business and leasehold interest at 3830 North 51st Avenue in Phoenix, Arizona. The ±5,970-square-foot express car wash, built in 2020, sits on ±1.10 acres and operates under an NNN ground lease with zero landlord responsibilities, ±9 years of remaining term through December 2035, and three (3) five-year renewal options. Annual ground rent is $150,000, with scheduled 10% increases every five years. Offered at $4,999,999, the business generates $110,000 in current annual EBITDA, with pro forma EBITDA of $400,000 representing an 8.00% projected yield and meaningful upside through improved operations. The site fronts North 51st Avenue (±41,589 VPD) just south of its signalized intersection with Indian School Road (36,262 VPD), one of the highest-traffic intersections in West Phoenix. The property sits directly adjacent to American Family Fields of Phoenix, the Milwaukee Brewers' spring training complex drawing 130,000+ visitors annually, and neighbors a top 10% performing Walmart Supercenter and Maryvale Plaza, home to Burlington, Dollar Tree, and Ace Hardware. The 5-mile trade area holds 472,829 residents with an average household income of $88,621, and new multi-tenant redevelopment is underway at 51st Avenue and Indian School Road. The asset sits within the 5.2 million-resident Phoenix MSA, one of the fastest-growing metros in the nation.

FOR SALE DETAILS

PRICE

$4,999,999 USD

PRICE/SF

$838 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fast Lap Xpress Wash | Business + Leasehold

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

-

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

103-08-214

ASK ABOUT THIS PROPERTY

Shahram TamjidiMarcus & MillichapMore Info
818-665-9575

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Shahram TamjidiMarcus & MillichapMore Info
818-665-9575

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