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Car Wash

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

840 N Estrella Pkwy, Goodyear, AZ 85338

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
5,861
Guarantor
Corporate Guarantee
Rentable SF
5,861
Price/Gross SF
$1,194.34
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.67

Investment Overview

Marcus & Millichap is pleased to present for sale Ultra Clean Express Car Wash in Goodyear, 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. Only 20 minutes from downtown Phoenix, Goodyear offers all the advantages of a growing community with all the cultural and entertainment resources that the Phoenix metro has to offer. The highly educated and skilled workforce, affordable housing, low costs of doing business and plenty of southwest charm, create a prime economic environment for businesses to thrive. Goodyear boasts a 1.56 million person workforce that gives area businesses a leg up in recruiting qualified talent; companies like Amazon and Cancer Treatment Centers of America have operations in Goodyear.

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 10 Percent Rental Increases Every Five Years
  • 159,437 Residents within a Five-Mile Radius in a Rapidly Growing Trade Area - Households and Population Projected to Increase 18 – 20 Percent 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 North Estrella Parkway with Over 32,000 Cars per Day
  • Close Proximity to National Big Box Retailers, Walmart Supercenter, Safeway, Walgreens, ALDI, TJ Maxx, HomeGoods, Old Navy, Staples, and Many More
  • Average Household Income Exceeds $102,000 within Three Miles 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
5,861
Guarantor
Corporate Guarantee
Rentable SF
5,861
Price/Gross SF
$1,194.34
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.67

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 10 Percent Rental Increases Every Five Years
  • 159,437 Residents within a Five-Mile Radius in a Rapidly Growing Trade Area - Households and Population Projected to Increase 18 – 20 Percent 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 North Estrella Parkway with Over 32,000 Cars per Day
  • Close Proximity to National Big Box Retailers, Walmart Supercenter, Safeway, Walgreens, ALDI, TJ Maxx, HomeGoods, Old Navy, Staples, and Many More
  • Average Household Income Exceeds $102,000 within Three Miles of Location

Investment Overview

Marcus & Millichap is pleased to present for sale Ultra Clean Express Car Wash in Goodyear, 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. Only 20 minutes from downtown Phoenix, Goodyear offers all the advantages of a growing community with all the cultural and entertainment resources that the Phoenix metro has to offer. The highly educated and skilled workforce, affordable housing, low costs of doing business and plenty of southwest charm, create a prime economic environment for businesses to thrive. Goodyear boasts a 1.56 million person workforce that gives area businesses a leg up in recruiting qualified talent; companies like Amazon and Cancer Treatment Centers of America have operations in Goodyear.

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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