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Car Wash

Ultra Clean Express Car Wash (dba Fast & Friendly Express Car Wash)

20168 N John Wayne Pkwy, Maricopa, AZ 85139

Listing Price: $7,250,000

Cap Rate
5.75%
Tenant Name
Ultra Clean Express Car Wash dba Fast & Friendly
Years Remaining On Lease
20.1
Gross SF
6,530
Guarantor
Corporate Guarantee
Rentable SF
6,530
Price/Gross SF
$1,110.26
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$63.84

Investment Overview

Marcus & Millichap is pleased to present for sale Ultra Clean Express Car Wash in Maricopa, 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. Maricopa is one of the oldest and most historic communities in the state of Arizona. It is nestled in the heart of the Sonoran Desert, surrounded by mountain ranges and desert scenery. As one of Arizona’s fastest-growing cities, Maricopa remains rich in history and innate beauty, and remains a fantastic place to raise a family, build a business, or enjoy the warm climate and desert views. Maricopa has been recognized as the #1 Most Diverse School District in the Phoenix Area (Niche.com, 2022), the #4 Safest City in Arizona (Alarms.org, 2021), and the #8 Best Suburb to Buy a House in Phoenix (Niche.com, 2021).

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 10 Percent Rental Increases Every Five Years
  • 55,268 Residents within Growing Maricopa Trade Area in the Phoenix MSA - Projected to Increase Nearly 13 Percent by 2027
  • Property Qualifies for 80 Percent Year One Bonus Depreciation or 15-Year Accelerated Depreciation Per IRS 1250 Property Designation
  • Excellent Visibility Along North John Wayne Parkway (32,000 Cars per Day), Maricopa's Primary Thoroughfare Providing Direct Access to the I-10 Freeway
  • Situated in a Dense Retail Corridor - Adjacent to Sprouts, Marshalls, Culver's, Dutch Bros Coffee, Discount Tire, and More
  • Average Household Income Exceeds $85,000 in the Surrounding Trade Area
  • Adjacent to the New West Maricopa Village Mixed-Use Development - Upon Completion, Will Consist of Multifamily, Retail, and Office

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 Fast & Friendly Express Car Wash)

Listing Price: $7,250,000

Cap Rate
5.75%
Tenant Name
Ultra Clean Express Car Wash dba Fast & Friendly
Years Remaining On Lease
20.1
Gross SF
6,530
Guarantor
Corporate Guarantee
Rentable SF
6,530
Price/Gross SF
$1,110.26
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$63.84

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 10 Percent Rental Increases Every Five Years
  • 55,268 Residents within Growing Maricopa Trade Area in the Phoenix MSA - Projected to Increase Nearly 13 Percent by 2027
  • Property Qualifies for 80 Percent Year One Bonus Depreciation or 15-Year Accelerated Depreciation Per IRS 1250 Property Designation
  • Excellent Visibility Along North John Wayne Parkway (32,000 Cars per Day), Maricopa's Primary Thoroughfare Providing Direct Access to the I-10 Freeway
  • Situated in a Dense Retail Corridor - Adjacent to Sprouts, Marshalls, Culver's, Dutch Bros Coffee, Discount Tire, and More
  • Average Household Income Exceeds $85,000 in the Surrounding Trade Area
  • Adjacent to the New West Maricopa Village Mixed-Use Development - Upon Completion, Will Consist of Multifamily, Retail, and Office

Investment Overview

Marcus & Millichap is pleased to present for sale Ultra Clean Express Car Wash in Maricopa, 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. Maricopa is one of the oldest and most historic communities in the state of Arizona. It is nestled in the heart of the Sonoran Desert, surrounded by mountain ranges and desert scenery. As one of Arizona’s fastest-growing cities, Maricopa remains rich in history and innate beauty, and remains a fantastic place to raise a family, build a business, or enjoy the warm climate and desert views. Maricopa has been recognized as the #1 Most Diverse School District in the Phoenix Area (Niche.com, 2022), the #4 Safest City in Arizona (Alarms.org, 2021), and the #8 Best Suburb to Buy a House in Phoenix (Niche.com, 2021).

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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