Car Wash
Cobblestone Carwash | New 20 Year Term with 1.5% Annual Increases
11270 Huron St, Northglenn, CO 80234
Listing Price: $5,900,000
Investment Overview
The investment opportunity presents a compelling long-term prospect with a 20-year Absolute Triple Net (NNN) Sale-Leaseback arrangement, backed by a corporate guaranty from Spotless Brands, LLC, encompassing over 160 units. The lease structure includes annual rental increases of 1.50%, along with four five-year tenant renewal options, potentially extending the lease term to an impressive 40 years. The investment benefits from accelerated and bonus depreciation, qualifying for both 80% bonus depreciation and 15-year accelerated depreciation. Moreover, the property is strategically located in a thriving retail corridor featuring prominent brands such as Target, Chick-fil-A, CVS, McDonald's, and more. The surrounding affluent community boasts an average household income exceeding $103,000 within a five-mile radius. Strong demographics include over 133,000 individuals within a three-mile radius and over 341,000 individuals within a five-mile radius. The location also enjoys robust traffic counts, with over 158,300, 61,800, and 22,500 vehicles per day along Interstate 25, West 120th Ave, and Huron Street, respectively. Notably, an academic presence is established with one high school, one middle school, and four elementary schools within a two-mile radius, boasting a total enrollment exceeding 2,900 students. The tenant, Spotless Brands, founded in 2019, is a rapidly growing and prominent player in the car wash industry, operating over 160 car washes across the United States in partnership with industry-leading brands. Cobblestone, one of Spotless Brands' flagship entities, holds a leadership position in both Phoenix, AZ, and Denver, CO, offering best-in-class service with state-of-the-art equipment and processes that enable their experienced crews to perform a full-service car wash in less than 15-25 minutes.
Investment Highlights
- 20 Year Absolute-Net Sale-Leaseback
- Corporate Guaranty 160+ Units
- 1.5% Annual Increases / Four, 5 Year Options to Renew
Broker of Record
Financing By
Car Wash
Cobblestone Carwash | New 20 Year Term with 1.5% Annual Increases
Listing Price: $5,900,000
Investment Highlights
- 20 Year Absolute-Net Sale-Leaseback
- Corporate Guaranty 160+ Units
- 1.5% Annual Increases / Four, 5 Year Options to Renew
Investment Overview
The investment opportunity presents a compelling long-term prospect with a 20-year Absolute Triple Net (NNN) Sale-Leaseback arrangement, backed by a corporate guaranty from Spotless Brands, LLC, encompassing over 160 units. The lease structure includes annual rental increases of 1.50%, along with four five-year tenant renewal options, potentially extending the lease term to an impressive 40 years. The investment benefits from accelerated and bonus depreciation, qualifying for both 80% bonus depreciation and 15-year accelerated depreciation. Moreover, the property is strategically located in a thriving retail corridor featuring prominent brands such as Target, Chick-fil-A, CVS, McDonald's, and more. The surrounding affluent community boasts an average household income exceeding $103,000 within a five-mile radius. Strong demographics include over 133,000 individuals within a three-mile radius and over 341,000 individuals within a five-mile radius. The location also enjoys robust traffic counts, with over 158,300, 61,800, and 22,500 vehicles per day along Interstate 25, West 120th Ave, and Huron Street, respectively. Notably, an academic presence is established with one high school, one middle school, and four elementary schools within a two-mile radius, boasting a total enrollment exceeding 2,900 students. The tenant, Spotless Brands, founded in 2019, is a rapidly growing and prominent player in the car wash industry, operating over 160 car washes across the United States in partnership with industry-leading brands. Cobblestone, one of Spotless Brands' flagship entities, holds a leadership position in both Phoenix, AZ, and Denver, CO, offering best-in-class service with state-of-the-art equipment and processes that enable their experienced crews to perform a full-service car wash in less than 15-25 minutes.
Broker of Record
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Adam Lewis
First Vice President/Regional Manager
Financing By
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