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Car Wash

Mighty Wash Car Wash | Qualifies for Bonus / Accelerated Depreciation

3005 Kermit Hwy, Odessa, TX 79764

Listing Price: $5,096,000

Cap Rate
6.50%
Tenant Name
Mighty Wash
Years Remaining On Lease
20.0
Gross SF
4,536
Guarantor
Corporate Guarantee
Rentable SF
4,536
Price/Gross SF
$1,123.46
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$73.03

Investment Overview

Marcus & Millichap is pleased to present for sale Mighty Wash Car Wash in Odessa, Texas. Mighty Wash is a Texas-based car wash chain founded in Lubbock, Texas in 2012. In 2018, Mighty Wash acquired three Quick Quack Car Wash sites in Lubbock, Texas, and in 2021 the company acquired the entire ZK Express Tornado Car Wash chain for a total of five locations in Texas and New Mexico. Overall, Mighty Wash operates 20 locations and counting throughout southeastern New Mexico and west Texas.

Odessa is located in Ector County, Texas, with a small section extending into Midland County. The city’s population is estimated at 114,428 people. It is the principal city of the Odessa Metropolitan Statistical Area, which includes all of Ector County. The metropolitan area is also a component of the larger Midland- Odessa combined statistical area, which has an estimated population of 320,513.

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Annual Rent Increases
  • Corporate Guaranty by Mighty Wash, with 20 Locations and Counting Throughout Texas and New Mexico
  • 121,163 Residents within a Five-Mile Radius, with Population Projected to Increase More Than 5 Percent by 2027
  • Retail Corridor Location Surrounded by National Tenants: Planet Fitness, Dollar General, McDonald's, Walgreens, and More
  • Easily Accessible Location with Multiple Points of Ingress/Egress via Kermit Highway (6,700 Cars per Day), N County Road W (15,500 Cars per Day), and W University Boulevard (23,250 Cars per Day)
  • Less Than One Mile Down the Road from Odessa College (Over 8,000 Students Enrolled)
  • Average Household Income Exceeds $77,000 within a Five-Mile Radius

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Car Wash

Mighty Wash Car Wash | Qualifies for Bonus / Accelerated Depreciation

Listing Price: $5,096,000

Cap Rate
6.50%
Tenant Name
Mighty Wash
Years Remaining On Lease
20.0
Gross SF
4,536
Guarantor
Corporate Guarantee
Rentable SF
4,536
Price/Gross SF
$1,123.46
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$73.03

Investment Highlights

  • Brand New 20-Year Absolute Triple-Net (NNN) Lease with Annual Rent Increases
  • Corporate Guaranty by Mighty Wash, with 20 Locations and Counting Throughout Texas and New Mexico
  • 121,163 Residents within a Five-Mile Radius, with Population Projected to Increase More Than 5 Percent by 2027
  • Retail Corridor Location Surrounded by National Tenants: Planet Fitness, Dollar General, McDonald's, Walgreens, and More
  • Easily Accessible Location with Multiple Points of Ingress/Egress via Kermit Highway (6,700 Cars per Day), N County Road W (15,500 Cars per Day), and W University Boulevard (23,250 Cars per Day)
  • Less Than One Mile Down the Road from Odessa College (Over 8,000 Students Enrolled)
  • Average Household Income Exceeds $77,000 within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present for sale Mighty Wash Car Wash in Odessa, Texas. Mighty Wash is a Texas-based car wash chain founded in Lubbock, Texas in 2012. In 2018, Mighty Wash acquired three Quick Quack Car Wash sites in Lubbock, Texas, and in 2021 the company acquired the entire ZK Express Tornado Car Wash chain for a total of five locations in Texas and New Mexico. Overall, Mighty Wash operates 20 locations and counting throughout southeastern New Mexico and west Texas. Odessa is located in Ector County, Texas, with a small section extending into Midland County. The city’s population is estimated at 114,428 people. It is the principal city of the Odessa Metropolitan Statistical Area, which includes all of Ector County. The metropolitan area is also a component of the larger Midland- Odessa combined statistical area, which has an estimated population of 320,513.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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