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Miscellaneous

Gleaux Car Wash

2017 South Broadway Avenue, Tyler, TX 75701

Listing Price: $5,996,633

Cap Rate
6.00%
Tenant Name
Meineke
Years Remaining On Lease
19.8
Guarantor
Corporate Guarantee
Rentable SF
2,928
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$122.88

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for Gleaux Car Wash located at 2017 S Broadway Avenue in Tyler, TX. The site consists of roughly 2,928 rentable square feet of building space on estimated 1.31-acre parcel of land. Gleaux Car Wash will be subject to a 20-year absolute triple-net (NNN) lease, which will commence upon the Close of Escrow. The rent will be $359,798 and is scheduled to increase by two percent (2.00%) annually throughout the base term and the four (4), five (5)-year renewal options.

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Sale Leaseback
  • Lease to Commence Upon Close of Escrow
  • Two Percent (2.00%) Annual Rental Increases

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Miscellaneous

Gleaux Car Wash

Listing Price: $5,996,633

Cap Rate
6.00%
Tenant Name
Meineke
Years Remaining On Lease
19.8
Guarantor
Corporate Guarantee
Rentable SF
2,928
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$122.88

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Sale Leaseback
  • Lease to Commence Upon Close of Escrow
  • Two Percent (2.00%) Annual Rental Increases

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for Gleaux Car Wash located at 2017 S Broadway Avenue in Tyler, TX. The site consists of roughly 2,928 rentable square feet of building space on estimated 1.31-acre parcel of land. Gleaux Car Wash will be subject to a 20-year absolute triple-net (NNN) lease, which will commence upon the Close of Escrow. The rent will be $359,798 and is scheduled to increase by two percent (2.00%) annually throughout the base term and the four (4), five (5)-year renewal options.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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