Ultimate Shine Car Wash
5,106 SF Specialty Building Offered at $5,846,154 at a 6.50% Cap Rate in Roanoke, VA 24018
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,846,154
- Property Type
-
Specialty
- Square Feet
- 5,106 SF
- Price / Square Foot
- $1,145
Listing Contacts
Glen Kunofsky
Verified Profile
James Westerberg
Verified Profile
Robert Stein
Verified Profile
Gordon Pollock
Verified Profile
Ryan Morris
Verified Profile
- Property Info
Property Overview
NNN Pro Group is pleased to present the exclusive listing for Ultimate Shine Car Wash, located at 3250 Electric Rd., Roanoke, VA 24018. The site consists of roughly 5,106 total rentable square feet of building space on an estimated total of 1.03-acres of land. This Flagship Carwash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The annual rent is $380,000 and is scheduled to increase by 1.50% annually throughout the base term and in each of the 4, 5-year renewal options.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Car Wash
- Lot Size (sq. ft)
- 44,867 SF
Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
- Corporate Guaranty from Ultimate Shine Virginia HoldCo LLC | 21+ Unit Guaranty | Expected to Grow to 30+ Units by 2025
- 1.50% Annual Rental Increases
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