876 New York 13 - Car Washes FOR SALE


Cortland, NY 13045 | 
$3,050,034 USD
949-431-2735
876 New York 13, Cortland, NY for Sale
$3,050,034 USD
Car Washes - FOR SALE
1/3
null | 5.9% Cap Rate

876 New York 13
Cortland, NY 13045


HIGHLIGHTS

  • Tremendous Sales Volume Location
  • Rare, New York Express Wash Opportunity
  • 100% Bonus Depreciation

OVERVIEW

• Single Tenant Splash Car Wash Sale-Leaseback: ° Corporately guaranteed lease by Splash Car Wash ° Absolute NNN Lease with zero landlord responsibilities ° 20-year initial lease term with four 5-year options ° 1.50% annual increases during primary term and options • About Splash Car Wash: ° 80+ locations across the Northeastern United States: CT, MA, NY, VT ° Private equity backed by multi-billion dollar firm, AEA Investors (More Info) ° 40+ years in-business employing 1,000+ & washing 1MM+ cars per year ° Expanding Rapidly through Acquisition & Greenfield Development • Bonus Depreciation: Property qualifies for 100% bonus depreciation on carwash improvements (contact for more info) ° “Big Beautiful Bill” included the reset of bonus depreciation to 100% for 2025 and beyond • Tremendous Sales Volume location with excellent EBITDAR/Rent Coverage (contact broker for more information) • Rare, New York Express Wash Investment Opportunity • No Direct Competition within a 3-mi Radius of the express wash • Direct ingress & egress access to a 18,000+ CPD roadway; the primary thoroughfare of the market • Strong nearby residential affluence: $91,000+ Average Household Incomes within a 5-mi radius • Excellent surrounding retail synergy and positioned in the primary commercial corridor of the market: ° Pad to a Lowe’s w/ nearby big-box retailers featuring Walmart Supercenter, JCPenney, ALDI, and Marshalls ° Situated among nationally recognized retailers featuring McDonald’s, Taco Bell, 7 Brew Coffee & Applebees • SUNY Cortland: 7,000-student public university • County Seat of Cortland County New York

FOR SALE DETAILS

PRICE

$3,050,034 USD

PRICE/SF

$999 USD /SF

CAP RATE

5.9%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Splash Car Wash Sale-Leaseback

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,678 SF

ZONING

05

APN/PARCEL ID

112289-095-016-0002-078-100-0000

ASK ABOUT THIS PROPERTY

Austin BlodgettRealSource GroupMore Info
949-431-2735

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Austin BlodgettRealSource GroupMore Info
949-431-2735

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