Investment Overview

Marcus & Millichap is pleased to offer for sale a 20 year NNN corporate guaranteed portfolio of 9 Club Car Washes in Northwest Arkansas. Northwest Arkansas (NWA) is a metropolitan area that includes four of the ten largest cities in the state: Fayetteville, Springdale, Rogers, and Bentonville with 590,337 residents in 2023. Club Car Wash acquired the business operations for these units in 2022 and completed extensive renovations in 2024 for the rebranding. The lease has 1.5% annual rent increases with the primary term expiring July 31, 2042 with two 10 year options to extend the lease. The Wildcat car wash platform is a collection of car wash companies owned by Wildcat Capital Management, a New York-based family office. The platform is the 3rd largest in the country and includes Club Car Wash, Express Wash Concepts, and Rapid Express Car Wash. Club Car Wash primarily focuses on providing unlimited wash memberships, allowing customers to wash their vehicles as often as they like for a fixed monthly fee; they are known for offering quick, convenient service with free vacuums and microfiber towels alongside their various wash packages, aiming to deliver a high-quality car cleaning experience at multiple locations across the Midwest with a family-owned business approach. The state's gross domestic product (GDP) was $176.24 billion in 2023. Six Fortune 500 companies are based in Arkansas, including the world's #1 retailer, Walmart; Tyson Foods, J.B. Hunt, Dillard's, Murphy USA, and Windstream are also headquartered in the state. The per capita personal income in 2023 was $54,347, ranking 46th in the nation, and the median household income was $55,432, which ranked 47th. The state's agriculture outputs are poultry and eggs, soybeans, sorghum, cattle, cotton, rice, hogs, and milk. Its industrial outputs are food processing, electric equipment, fabricated metal products, machinery, and paper products. Arkansas's mines produce natural gas, oil, crushed stone, bromine, and vanadium. According to CNBC, Arkansas is the 20th-best state for business, with the 2nd-lowest cost of doing business, 5th-lowest cost of living, 11th-best workforce, 20th-best economic climate, 28th-best-educated workforce, 31st-best infrastructure and the 32nd-friendliest regulatory environment. Arkansas gained 12 spots in the best state for business rankings since 2011. As of 2014, it was the most affordable state to live in. As of July 2023, the state's unemployment rate was 2.6%.