Car Wash
Cobblestone Car Wash
9865 W Northern Ave, Glendale, AZ 85305
Listing Price: $5,920,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Cobblestone Car Wash, located at 9865 W Northern Ave in Glendale, AZ. The site consists of roughly 5,897 total rentable square feet of building space on an estimated total of 1.36-acres of land. This Cobblestone Car Wash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The annual rent is $370,000 and is scheduled to increase by 1.50% annually throughout the base term and in each of the 4, 5-year renewal options.
Cobblestone Car Wash
Investment Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
- Corporate Guaranty from Cobblestone HoldCo LLC | 76+ Unit Guaranty
- Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
- Strong Traffic Counts | Over 31,600 and 126,600 Vehicles Per Day Along West Northern Avenue & Arizona State Route 101
- Spotless Brands was founded in 2019 with the purpose of revolutionizing the car wash industry by building best-in-class brands with leadership positions in premium markets.
Exclusively Listed By
Broker of Record
-
Ryan Sarbinoff
First Vice President/Regional Manager
Financing By
Listing Price: $5,920,000
Investment Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
- Corporate Guaranty from Cobblestone HoldCo LLC | 76+ Unit Guaranty
- Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
- Strong Traffic Counts | Over 31,600 and 126,600 Vehicles Per Day Along West Northern Avenue & Arizona State Route 101
- Spotless Brands was founded in 2019 with the purpose of revolutionizing the car wash industry by building best-in-class brands with leadership positions in premium markets.
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Cobblestone Car Wash, located at 9865 W Northern Ave in Glendale, AZ. The site consists of roughly 5,897 total rentable square feet of building space on an estimated total of 1.36-acres of land. This Cobblestone Car Wash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The annual rent is $370,000 and is scheduled to increase by 1.50% annually throughout the base term and in each of the 4, 5-year renewal options.
Exclusively Listed By
Broker of Record
-
Ryan Sarbinoff
First Vice President/Regional Manager
Financing By
