For Sale
$4,802,000

10901 Lapham St West Allis, WI 53214

Corporate-guaranteed car wash, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a fee-simple interest in a 3,500-square-foot, 100% occupied car wash located at 10901 W Lapham St, West Allis, WI 53214. The property boasts a 20-year absolute NNN lease commencing January 1, 2023, and expiring December 28, 2042, leaving 18.1 years remaining. The tenant is backed by a corporate guarantee, mitigating risk and ensuring consistent income. The property features a strong NOI of $312,120, translating to a 6.50% cap rate and a price per square foot of $1,372. The asking price is $4,802,000. Built in 2019 on a 1.88-acre lot, the car wash includes 38 parking spaces and benefits from a prime corner location in a thriving retail corridor with nearby freeways and large regional centers. Annual rent bumps of 2.00% commence in January 2029. The property is zoned commercial (APN 448-9979-015) and offers four lease options. Bonus depreciation is available. The strong demographics within a 5-mile radius and the presence of national/credit tenants in the vicinity further enhance the investment potential. This is a truly exceptional, low-maintenance investment with significant upside potential.

Highlights

  • 19+ Years Remaining on Corporate Guaranteed Lease with Scheduled Rent Increases.
  • Absolute NNN Lease; Fee Simple Ownership; No Landlord Responsibilities; Bonus Depreciation Opportunity.
  • High-Visibility Corner Lot; Excellent Freeway Access; Thriving Retail Corridor; Proximity to Major Regional Centers and National/Credit Tenants.
  • Strong Demographics within a 5-Mile Radius; Six-Figure Annual Income.

Property Details for 10901 Lapham St

Property type
Specialty properties, Car washes
Square Feet
3,500 SF
Year Built
2019
Lot Size (sq. ft)
81,893 SF

Location Insight

City
West Allis
County
Milwaukee
State
Wisconsin
Latitude
43.0130779
Longitude
-88.0480698

FAQs

What type of property is this?
Specialty property - Corporate-guaranteed car wash, strong NOI.
Where is the specialty property located?
The property is located at 10901 Lapham St West Allis, WI.
What is the asking price?
The asking price for this property is $4,802,000.
What are key features of this property?
This property features: 19+ Years Remaining on Corporate Guaranteed Lease with Scheduled Rent Increases.; Absolute NNN Lease; Fee Simple Ownership; No Landlord Responsibilities; Bonus Depreciation Opportunity.; High-Visibility Corner Lot; Excellent Freeway Access; Thriving Retail Corridor; Proximity to Major Regional Centers and National/Credit Tenants.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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10901 Lapham St
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