75015 Sheryl Ave - Car Washes FOR SALE


Palm Desert, CA 92211- Outlying Palm Springs
$3,899,000 USD
760-779-4000
75015 Sheryl Ave, Palm Desert, CA for Sale
$3,899,000 USD
Car Washes - FOR SALE
1/17
null | 7.29% Cap Rate

75015 Sheryl Ave
Palm Desert, CA 92211
Outlying Palm Springs


OVERVIEW

The Coachella Valley's iconic Harv's Car Wash was built in 1991, and has been a very popular spot in Palm Desert, for customers to have their cars washed and detailed. The current operator has been in the car wash business for over 30+ years, and recently executed a 10 year, single tenant NNN lease. Currently, the lease terms still has approximately 9 years remaining (Exp. 8/31/34). The current CAP Rate is 7.29%, with the most recent annual Base Rent escalation of 3%. The Seller had a $300k solar panel system installed on the building in 2018, which has been paid for in full, and is part of the sale.

FOR SALE DETAILS

PRICE

$3,899,000 USD

PRICE/SF

$228 USD /SF

CAP RATE

7.29%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harv's Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

C1

APN/PARCEL ID

634-260-020

ASK ABOUT THIS PROPERTY

Matthew JohnsonJohnson Commercial Real EstateMore Info
760-779-4000

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Matthew JohnsonJohnson Commercial Real EstateMore Info
760-779-4000

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