Northmarq is pleased to offer for sale the fee simple interest in this ZIPS Car Wash property located in Cincinnati, Ohio (“The Property”). The Property consists of a 3,600-square-foot freestanding retail building on a 0.91-acre parcel of land. The tenant is operating under an absolute NNN lease with zero landlord operating responsibilities and over ten years remaining. The lease features 1.5% rental escalations annually throughout the base term. Additionally, the lease apportions all land, improvements, and significant equipment to the landlord position, maximizing the available depreciation benefit. See Lease Abstract for details.
The Property is located in Cincinnati, Ohio, the third largest city in Ohio, with a metropolitan population of 2.2 million. Located directly on Colerain Ave, the primary North/South commercial corridor serving Cincinnati’s Near-North suburbs, the Property benefits from visibility to ±38,000 vehicles per day and excellent access to Ohio Rte 126. An ideal anchor for an express car wash, Walmart Supercenter is conveniently adjacent to the Property. Customers can efficiently accomplish two errands in one place. The Property also benefits from strong demographics with a surrounding household income of more than $80k per year. The Tenant, ZIPS Car Wash, is a leading car wash brand currently ranked 3rd largest in the US, with more than 270 locations across 24 states.
In Association With:
Jeff McKinney
OH #BRK.2016002560