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Car Wash

Ultra Clean Express Car Wash (dba 3 Minute Express Car Wash)

1075 S Watson Rd, Buckeye, AZ 85326

Listing Price: $7,000,000

Cap Rate
5.75%
Tenant Name
Ultra Clean Express Car Wash dba 3 Minute Express
Years Remaining On Lease
20.1
Gross SF
7,224
Guarantor
Corporate Guarantee
Rentable SF
7,224
Price/Gross SF
$968.99
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$55.72

Investment Overview

Marcus & Millichap is pleased to present for sale Ultra Clean Express in Buckeye, Arizona. Ultra Clean Express ("Ultra Clean") is a leading operator of express car wash facilities with locations throughout the Las Vegas and Phoenix MSAs. Ultra Clean currently has 20 locations, with six in development with additional larger expansion plans. The company operates multiple brands under the same umbrella: Ultra Clean, 3 Minute Car Wash, Rinse N Ride, Sparkle, and Fast & Friendly. Ultra Clean's sites have industry leading economics, modern express exterior equipment, and a loyal customer base. Ultra Clean's management team has a long track record of success in car wash and multi-site services. Ultra Clean's strategy is to build regional density in attractive MSAs in the Southwest United States. The company operates 14 sites in Arizona with two in development. In Nevada, the company operates six sites with four in development. Lindsay Goldberg ("LG") is a New York-based private investment firm that focuses on partnering with families, founders, and management teams seeking to actively build their businesses and pursue long-term value creation. LG acquired Ultra Clean in late 2021. LG has marked experience investing in multi-site services business models and buy-and-build platforms. The firm takes a long-term view to investing by supporting its investments throughout their life cycle. LG partnered with two highly experienced multi-site services executives to lead the company: CEO Frank Kneller is a four-time PE backed CEO with recent multi-site services experience at Sun Auto (350+ locations); Chairman Tom Mangas is the former CEO of the International Car Wash Group. Buckeye is 30 miles west of Phoenix, located at the edge of the metro area and south of White Tank Mountain Regional Park. Founded in 1888, the city was originally named “Sidney.” In 1910, the name was changed to “Buckeye” and the city boomed as a result of the introduction of the railroad. Today, Buckeye is one of the fastest growing cities in the state and has become an important center in Arizona for industry, business, and commerce.

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 10 Percent Rental Increases Every Five Years
  • 69,574 Residents within a Five-Mile Radius in a Rapidly Growing Trade Area - Households and Population Projected to Increase 18%+ in Immediate Area by 2027
  • Property Qualifies for 80 Percent Year One Bonus Depreciation or 15-Year Accelerated Depreciation Per IRS 1250 Property Designation
  • Situated in Highly Accessible Dense Retail Corridor
  • Excellent Visibility Along S Watson Road with Over 57,200 Cars per Day
  • Adjacent to National Big Box Retailers, Walmart Supercenter, Fry's, Walgreens, ALDI, and Lowe's and Surrounded by Planned Retail and Residential Development
  • Average Household Income Exceeds $95,000 within Immediate Proximity of Location

Exclusively Listed By

Broker of Record

  • James K. Crawley

    Associate Regional Manager

    (602) 687-6700

    License(s) AZ: SA659077000

    Arizona

Financing By

Car Wash

Ultra Clean Express Car Wash (dba 3 Minute Express Car Wash)

Listing Price: $7,000,000

Cap Rate
5.75%
Tenant Name
Ultra Clean Express Car Wash dba 3 Minute Express
Years Remaining On Lease
20.1
Gross SF
7,224
Guarantor
Corporate Guarantee
Rentable SF
7,224
Price/Gross SF
$968.99
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$55.72

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 10 Percent Rental Increases Every Five Years
  • 69,574 Residents within a Five-Mile Radius in a Rapidly Growing Trade Area - Households and Population Projected to Increase 18%+ in Immediate Area by 2027
  • Property Qualifies for 80 Percent Year One Bonus Depreciation or 15-Year Accelerated Depreciation Per IRS 1250 Property Designation
  • Situated in Highly Accessible Dense Retail Corridor
  • Excellent Visibility Along S Watson Road with Over 57,200 Cars per Day
  • Adjacent to National Big Box Retailers, Walmart Supercenter, Fry's, Walgreens, ALDI, and Lowe's and Surrounded by Planned Retail and Residential Development
  • Average Household Income Exceeds $95,000 within Immediate Proximity of Location

Investment Overview

Marcus & Millichap is pleased to present for sale Ultra Clean Express in Buckeye, Arizona. Ultra Clean Express ("Ultra Clean") is a leading operator of express car wash facilities with locations throughout the Las Vegas and Phoenix MSAs. Ultra Clean currently has 20 locations, with six in development with additional larger expansion plans. The company operates multiple brands under the same umbrella: Ultra Clean, 3 Minute Car Wash, Rinse N Ride, Sparkle, and Fast & Friendly. Ultra Clean's sites have industry leading economics, modern express exterior equipment, and a loyal customer base. Ultra Clean's management team has a long track record of success in car wash and multi-site services. Ultra Clean's strategy is to build regional density in attractive MSAs in the Southwest United States. The company operates 14 sites in Arizona with two in development. In Nevada, the company operates six sites with four in development. Lindsay Goldberg ("LG") is a New York-based private investment firm that focuses on partnering with families, founders, and management teams seeking to actively build their businesses and pursue long-term value creation. LG acquired Ultra Clean in late 2021. LG has marked experience investing in multi-site services business models and buy-and-build platforms. The firm takes a long-term view to investing by supporting its investments throughout their life cycle. LG partnered with two highly experienced multi-site services executives to lead the company: CEO Frank Kneller is a four-time PE backed CEO with recent multi-site services experience at Sun Auto (350+ locations); Chairman Tom Mangas is the former CEO of the International Car Wash Group. Buckeye is 30 miles west of Phoenix, located at the edge of the metro area and south of White Tank Mountain Regional Park. Founded in 1888, the city was originally named “Sidney.” In 1910, the name was changed to “Buckeye” and the city boomed as a result of the introduction of the railroad. Today, Buckeye is one of the fastest growing cities in the state and has become an important center in Arizona for industry, business, and commerce.

Exclusively Listed By

Broker of Record

  • James K. Crawley

    Associate Regional Manager

    (602) 687-6700

    License(s): AZ: SA659077000

    Arizona

Financing By

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