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Car Wash

Cobblestone Carwash | New 20 Year Term with 1.5% Annual Increases

16830 W Yuma Rd, Goodyear, AZ 85338

Listing Price: $5,995,935

Cap Rate
6.15%
Tenant Name
Spotless Brands
Guarantor
Corporate Guarantee
Rentable SF
5,897
Lease Type
Absolute Net
Rent Per Square Feet
$62.53

Investment Overview

This investment opportunity boasts a robust long-term prospect with a 20-year Absolute Triple Net (NNN) Sale-Leaseback arrangement, secured by a corporate guaranty from Spotless Brands, LLC, covering an impressive portfolio of over 160 units. The lease structure includes favorable terms such as 1.50% annual rental increases and the flexibility of four five-year tenant renewal options, potentially extending the lease term to a remarkable 40 years. The investment further benefits from accelerated and bonus depreciation, making it eligible for both 80% bonus depreciation and 15-year accelerated depreciation. Positioned in a thriving retail corridor, the location features well-known brands like Taco Bell, KFC, Starbucks, and more. The surrounding community is affluent, with an average household income exceeding $103,300 within a one-mile radius. Strong demographics include over 107,600 individuals within a five-mile radius, complemented by robust traffic counts of over 12,700 and 31,600 vehicles per day along South Cotton Lane and Estrella Parkway, respectively. The area also enjoys a strong academic presence with Desert Edge High School and Basis Goodyear Primary School within a three-mile radius, collectively enrolling over 2,500 students. Additionally, being an outparcel to Canyon Trails Towne Center, the property is strategically located with over 40 retail tenants. The tenant, Spotless Brands, founded in 2019, is a rapidly growing force in the car wash industry, operating over 160 car washes across the United States in partnership with four industry-leading brands. Cobblestone, a flagship brand under Spotless Brands, holds a dominant position in the car wash industry in Phoenix, AZ, and Denver, CO, offering top-notch service with state-of-the-art equipment, enabling their experienced crews to complete a full-service car wash in an impressive 15-25 minutes.

Investment Highlights

  • 20 Year Absolute-Net Sale-Leaseback
  • 1.50% ANnual Increases
  • Corporate Guaranty 160+ Units

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Financing By

Car Wash

Cobblestone Carwash | New 20 Year Term with 1.5% Annual Increases

Listing Price: $5,995,935

Cap Rate
6.15%
Tenant Name
Spotless Brands
Guarantor
Corporate Guarantee
Rentable SF
5,897
Lease Type
Absolute Net
Rent Per Square Feet
$62.53

Investment Highlights

  • 20 Year Absolute-Net Sale-Leaseback
  • 1.50% ANnual Increases
  • Corporate Guaranty 160+ Units

Investment Overview

This investment opportunity boasts a robust long-term prospect with a 20-year Absolute Triple Net (NNN) Sale-Leaseback arrangement, secured by a corporate guaranty from Spotless Brands, LLC, covering an impressive portfolio of over 160 units. The lease structure includes favorable terms such as 1.50% annual rental increases and the flexibility of four five-year tenant renewal options, potentially extending the lease term to a remarkable 40 years. The investment further benefits from accelerated and bonus depreciation, making it eligible for both 80% bonus depreciation and 15-year accelerated depreciation. Positioned in a thriving retail corridor, the location features well-known brands like Taco Bell, KFC, Starbucks, and more. The surrounding community is affluent, with an average household income exceeding $103,300 within a one-mile radius. Strong demographics include over 107,600 individuals within a five-mile radius, complemented by robust traffic counts of over 12,700 and 31,600 vehicles per day along South Cotton Lane and Estrella Parkway, respectively. The area also enjoys a strong academic presence with Desert Edge High School and Basis Goodyear Primary School within a three-mile radius, collectively enrolling over 2,500 students. Additionally, being an outparcel to Canyon Trails Towne Center, the property is strategically located with over 40 retail tenants. The tenant, Spotless Brands, founded in 2019, is a rapidly growing force in the car wash industry, operating over 160 car washes across the United States in partnership with four industry-leading brands. Cobblestone, a flagship brand under Spotless Brands, holds a dominant position in the car wash industry in Phoenix, AZ, and Denver, CO, offering top-notch service with state-of-the-art equipment, enabling their experienced crews to complete a full-service car wash in an impressive 15-25 minutes.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

Financing By

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