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Car Wash

Zips

5090 W University Dr, Prosper, TX 75078

Listing Price: $4,730,261

Cap Rate
5.75%
Tenant Name
Zips Car Wash, LLC
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
4,614
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$58.95

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Zips Car Wash located at 5090 W University Drive in Prosper, Texas. The site consists of roughly 4,614 rentable square feet of building space on estimated 1.19-acre parcel of land. This Zips Car Wash is subject to a 20-year absolute triple-net (NNN) lease, which commenced December 29th, 2017. The current annual rent is $271,990 and is scheduled to increase by 1.75% annually throughout the base term and in each of the 2, 10-year renewal options.

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Approximately 15.14 Years Remaining
  • 1.75% Rental Increases Occurring Annually

Exclusively Listed By

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s) TX: 0606255

    Texas

Listing Price: $4,730,261

Cap Rate
5.75%
Tenant Name
Zips Car Wash, LLC
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
4,614
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$58.95

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Approximately 15.14 Years Remaining
  • 1.75% Rental Increases Occurring Annually

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Zips Car Wash located at 5090 W University Drive in Prosper, Texas. The site consists of roughly 4,614 rentable square feet of building space on estimated 1.19-acre parcel of land. This Zips Car Wash is subject to a 20-year absolute triple-net (NNN) lease, which commenced December 29th, 2017. The current annual rent is $271,990 and is scheduled to increase by 1.75% annually throughout the base term and in each of the 2, 10-year renewal options.

Exclusively Listed By

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s): TX: 0606255

    Texas

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