10561 Hole Ave, Riverside, CA 92505
6,208 SF Specialty Building Offered at $6,154,000 at a 6.50% Cap Rate in Riverside, CA 92505
For Sale
Active
Asking Price $6,154,000
- Sale Condition
- Build to Suit
- Property Type
-
Specialty
- Square Feet
- 6,208 SF
- Price / Square Foot
- $991
Listing Contacts
Calvin Short
Aron Cline
Matt Coates
Gary Chou
Property Overview
• Corporately guaranteed | Super Star Car Wash currently has 100+ locations open and operating across four states with an additional 25+ locations in the development pipeline, 12 are set to open by year-end
• Superb tax advantages | Investment is likely eligible for Bonus Depreciation | Speak with your tax advisor to confirm
• New, 20-year lease with 10% rent increases every 5 years throughout the initial term and options | Rent to commence at close of escrow
• Nearly $9.28MM in guaranteed income over the base term of the lease, yielding a 7.54% Blended CAP, assuming purchase at List Price
• Excellent access and visibility from Hole Ave, California Ave, and Collett Ave | Boasts a combined ±47,900 VPD
• There is an average of only 34 rainy days per year in Riverside, CA, making it ideal weather for car washes year-round
• Site is walking distance to:
• Galleria at Tyler | 1MM+ SF shopping mall | 180+ retailers | Anchored by Macy’s, JCPenney, Sephora, Furniture City
• Tyler Street Plaza | Shopping center anchored by Best Buy and Burlington
• Michael’s Plaza | Shopping center anchored by Northgate Gonzalez Market and Michaels
• La Sierra High School | 1,546 students
• Kaiser Permanente Riverside Medical Center | 225 beds
• National tenants including Target, Lowe’s, Kohl’s, ALDI, Starbucks, McDonald’s, Smart & Final, Stater Bros, Olive Garden, ULTA, The
Habit, Citi Bank, IHOP, Ross, Big 5 Sporting Goods, Jack in the Box, Rite Aid, Dunkin’, AutoZone, among others
• Less than 1.5 miles from Highway 91 aka Riverside Freeway (186,000 VPD) & La Sierra University (1,600+ students)
• E-commerce and recession-resistant concept
• Dense and affluent area | 141,200+ residents with an average HH income exceeding $102,700 within a 3-mile radius
• In 2021, TSG Consumer Partners, a leading private equity firm, acquired a majority stake in Super Star Car Wash and will continue
to build and accelerate growth for the business
• Superb tax advantages | Investment is likely eligible for Bonus Depreciation | Speak with your tax advisor to confirm
• New, 20-year lease with 10% rent increases every 5 years throughout the initial term and options | Rent to commence at close of escrow
• Nearly $9.28MM in guaranteed income over the base term of the lease, yielding a 7.54% Blended CAP, assuming purchase at List Price
• Excellent access and visibility from Hole Ave, California Ave, and Collett Ave | Boasts a combined ±47,900 VPD
• There is an average of only 34 rainy days per year in Riverside, CA, making it ideal weather for car washes year-round
• Site is walking distance to:
• Galleria at Tyler | 1MM+ SF shopping mall | 180+ retailers | Anchored by Macy’s, JCPenney, Sephora, Furniture City
• Tyler Street Plaza | Shopping center anchored by Best Buy and Burlington
• Michael’s Plaza | Shopping center anchored by Northgate Gonzalez Market and Michaels
• La Sierra High School | 1,546 students
• Kaiser Permanente Riverside Medical Center | 225 beds
• National tenants including Target, Lowe’s, Kohl’s, ALDI, Starbucks, McDonald’s, Smart & Final, Stater Bros, Olive Garden, ULTA, The
Habit, Citi Bank, IHOP, Ross, Big 5 Sporting Goods, Jack in the Box, Rite Aid, Dunkin’, AutoZone, among others
• Less than 1.5 miles from Highway 91 aka Riverside Freeway (186,000 VPD) & La Sierra University (1,600+ students)
• E-commerce and recession-resistant concept
• Dense and affluent area | 141,200+ residents with an average HH income exceeding $102,700 within a 3-mile radius
• In 2021, TSG Consumer Partners, a leading private equity firm, acquired a majority stake in Super Star Car Wash and will continue
to build and accelerate growth for the business
Property Details
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Car Wash
- Lot Size (sq. ft)
- 57,499 SF
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