594 16th St - Car Washes FOR SALE


Holland, MI 49423- Downtown Holland
$5,633,000 USD
594 16th St, Holland, MI for Sale
$5,633,000 USD
Car Washes - FOR SALE
1/4
null | 5.5% Cap Rate

594 16th St
Holland, MI 49423
Downtown Holland


HIGHLIGHTS

  • Newly built single-story car wash on ±2-acre parcel.
  • Absolute NNN lease with 19-year term and 2% annual increases.
  • Leased to Mister Car Wash, a publicly traded industry leader.

OVERVIEW

Offered at $5,633,000 with a 5.5% cap rate, this newly constructed Mister Car Wash property presents a rare opportunity to acquire a long-term, absolute NNN asset in Holland, Michigan. Built in 2024 on a ±2-acre parcel, the 6,400-square-foot single-story facility is strategically positioned as an outparcel to Menards with exceptional visibility from US-196, which sees over 34,000 vehicles per day. The property is secured by a 19-year lease to Mister Car Wash, the largest car wash operator in North America and a publicly traded company (NASDAQ: MCW) with over 500 locations nationwide. The lease includes 2% annual rent escalations, ensuring consistent income growth and a hedge against inflation. Current annual rent is $309,825, increasing steadily through 2044.

FOR SALE DETAILS

PRICE

$5,633,000 USD

PRICE/SF

$870 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mister Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

CMU

APN/PARCEL ID

70-16-33-200-105

ASK ABOUT THIS PROPERTY

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