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Car Wash

Mighty Wash Car Wash | Qualifies for Bonus / Accelerated Depreciation

6506 82nd St, Lubbock, TX 79424

Listing Price: $5,221,000

Cap Rate
6.50%
Tenant Name
Mighty Wash
Years Remaining On Lease
20.0
Gross SF
4,320
Guarantor
Corporate Guarantee
Rentable SF
4,320
Price/Gross SF
$1,208.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$78.56

Investment Overview

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.

Home to Texas Tech, one of the largest universities in the state, Lubbock is also the most populous metro in the western Texas and eastern New Mexico region. The county seat of Lubbock County, the city is home to an estimated 329,000 residents.

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
  • 150,484 Residents within a Five-Mile Radius - Dense Lubbock Infill
  • Rapidly Growing Trade Area with Households and Population Projected to Increase More Than 20 Percent in the Immediate Area by 2027
  • Located Across from Walmart, Surrounded by National Retailers: Walgreens, McDonald's, Chick-fil-A, Discount Tire, and More
  • Signalized Hard Corner Location, Visible to Over 46,800 Cars per Day
  • Average Household Income Exceeds $121,000 within a One-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: $5,221,000

Cap Rate
6.50%
Tenant Name
Mighty Wash
Years Remaining On Lease
20.0
Gross SF
4,320
Guarantor
Corporate Guarantee
Rentable SF
4,320
Price/Gross SF
$1,208.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$78.56

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
  • 150,484 Residents within a Five-Mile Radius - Dense Lubbock Infill
  • Rapidly Growing Trade Area with Households and Population Projected to Increase More Than 20 Percent in the Immediate Area by 2027
  • Located Across from Walmart, Surrounded by National Retailers: Walgreens, McDonald's, Chick-fil-A, Discount Tire, and More
  • Signalized Hard Corner Location, Visible to Over 46,800 Cars per Day
  • Average Household Income Exceeds $121,000 within a One-Mile Radius

Investment Overview

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. Home to Texas Tech, one of the largest universities in the state, Lubbock is also the most populous metro in the western Texas and eastern New Mexico region. The county seat of Lubbock County, the city is home to an estimated 329,000 residents.

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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