811 S Greenville Ave - Car Washes FOR SALE


Allen, TX 75002
$5,235,569 USD
602-538-7155
811 S Greenville Ave, Allen, TX for Sale
$5,235,569 USD
Car Washes - FOR SALE
1/8
null | 6.5% Cap Rate

811 S Greenville Ave
Allen, TX 75002


HIGHLIGHTS

  • Qualifies for bonus depreciation
  • Dallas Metro (income tax free state)
  • Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
  • Absolute NNN lease (zero landlord responsibilities)
  • Long term 18 year lease
  • Recession resistant business

OVERVIEW

INVESTMENT HIGHLIGHTS • Qualifies for bonus depreciation • Dallas Metro (income tax free state) • Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation • Absolute NNN lease (zero landlord responsibilities) • Long term 18 year lease • Recession resistant business TENANT HIGHLIGHTS • Strong Corporate Guarantor: FullSpeed Automotive oversees ±900 owned and franchised units, generating $300 million in revenue • FullSpeed Automotive is a subsidiary of MidOcean Partners, a private equity group that operates and invests in consumer and business services • MidOcean Partners has $7 Billion of assets under management (www.midoceanpartners.com) LOCATION HIGHLIGHTS • Less than 1 mile from Watters Creek Village, a 52-acre mixed use development providing a variety of retail, office and residential options • Extremely affluent submarket with average household incomes over $153,000 in a 5 mile radius • Prominent location along Greenville Avenue, a significant Allen thoroughfare with high visibility (±18,945 VPD) • Complete auto care location

FOR SALE DETAILS

PRICE

$5,235,569 USD

PRICE/SF

$550 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Long Term NNN Corporate Waterfalls Car Wash a

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

SC, Allen

APN/PARCEL ID

R-3482-000-0010-1

ASK ABOUT THIS PROPERTY

Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

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Chris HollenbeckCushman & WakefieldMore Info
602-538-7155

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