For Sale
$4,640,633

20311 Highland RdBaton Rouge, LA 70817

High-yield, NNN-leased car wash.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a fee-simple interest in a 3,434 square foot WhiteWater Express Car Wash located in Baton Rouge, Louisiana, at 20311 Highland Rd, 70817. Built in 2012 and renovated in 2022, this single-unit property sits on a 0.86-acre lot and boasts a 20-year absolute NNN lease with a corporate guarantee from a reputable, expanding company. The lease commenced August 1, 2022, and includes four, five-year renewal options, ensuring long-term income stability. The current lease features annual rent bumps of 1.25%, providing inflation protection. The property enjoys 100% occupancy, generating a substantial net operating income (NOI) of $278,438, representing a 6.00% cap rate. The asking price is $4,640,633, translating to $1,351.38 per square foot and $4,640,633 per unit. The property benefits from excellent visibility and is strategically located near numerous national retailers, ensuring high traffic volume. The tenant is responsible for all taxes, insurance, and maintenance, making this a truly passive investment opportunity. The strong corporate guarantor and long-term lease provide significant security and potential for appreciation. This is an ideal investment for those seeking a low-maintenance, high-return asset with substantial long-term growth prospects.

Highlights

  • 18+ years remaining on a corporate absolute NNN lease.
  • Fee simple ownership allows for bonus depreciation (consult your tax advisor).
  • High visibility: over 16,600 vehicles per day on Highland Rd and nearly 37,100 on US Highway 61.
  • Excellent location in Baton Rouge MSA, near 90+ national retailers including Walmart, Walgreens, and Home Depot.
  • 1.25% annual rent increases to hedge against inflation.
  • Strong corporate guarantor with 100+ locations, backed by Freeman Spogli & Co.

Property Details for 20311 Highland Rd

Property type
Specialty properties, Car washes
Square Feet
3,434 SF
Year Built/Renovated
2012/2022
Lot Size (sq. ft)
37,462 SF
Units
1

Location Insight

City
Baton Rouge
County
East Baton Rouge Parish
State
Louisiana
Latitude
30.360761739168
Longitude
-91.005969574073
20311 Highland Rd, Baton Rouge, Louisiana

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20311 Highland Rd
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