For Sale
$5,333,333

1611 Schofield AveSchofield, WI 54476

High-Performing Car Wash, 20-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
117
Exceptional investment opportunity: a fee-simple Tommy's Express Car Wash in Schofield, Wisconsin. This 4,010 square foot facility sits on a 1.06-acre lot and boasts a brand-new 20-year absolute NNN lease with a corporate guarantee. The lease features 1.75% annual rent escalations throughout the base term and each of the six, 5-year extension options, ensuring consistent income growth. The property enjoys a prime location with high visibility and traffic volume exceeding 30,000 vehicles per day, providing excellent access to major highways. Built in 2020, the car wash currently operates at 100% occupancy, generating a strong net operating income (NOI) of $400,000 and a 7.50% capitalization rate. This is a rare opportunity to acquire a high-performing asset within a rapidly expanding national car wash franchise with over 200 locations and international expansion plans. The property's strong performance is further enhanced by recently implemented price increases and outstanding membership revenues. The sale-leaseback structure offers significant tax advantages, including eligibility for accelerated depreciation and 60% bonus depreciation (consult a tax professional for details). This is an ideal investment for those seeking stable, long-term income with significant upside potential in a resilient industry.

Highlights

  • $5,333,333 Asking Price, Absolute NNN Lease, Corporate Guarantee.
  • Fee Simple Ownership, 20-Year Lease Term with 6, 5-Year Options, 1.75% Annual Rent Increases.
  • 4,010 Square Feet, 1.06-Acre Lot, 2020 Construction.
  • 7.50% Cap Rate, $400,000 NOI, 100% Occupancy.
  • Tommy's Express Car Wash, Schofield, WI (1611 Schofield Ave, 54476).

Property Details for 1611 Schofield Ave

Property type
Specialty properties, Car washes
Square Feet
4,010 SF
Year Built
2020
Lot Size (sq. ft)
46,174 SF

Location Insight

City
Schofield
County
Marathon
State
Wisconsin
Latitude
44.9085937
Longitude
-89.603125
1611 Schofield Ave, Schofield, Wisconsin

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1611 Schofield Ave
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