For Sale
$6,154,000

10561 Hole AveRiverside, CA 92505

High-yield, corporate-guaranteed car wash.

Overview

Added:
Dec 11, 2024
Days on market:
113
A newly built, 6,208 sq ft car wash in Riverside, CA, boasts a 20-year absolute NNN lease with a credit-rated corporate guarantor, 10% rent bumps every 5 years, and a 6.50% cap rate, generating $400,000 in NOI. Situated on a 1.32-acre lot with 31 parking spaces, this property enjoys exceptional visibility and access, benefiting from high daily vehicle counts and proximity to major retailers, schools, and medical facilities. The lease includes two 5-year and one 4-year 11-month options. Bonus depreciation may be eligible. The property is part of a rapidly expanding national car wash chain with over 100 locations and significant future growth plans. Located in an area with a high population density and average household income exceeding $102,700 within a 3-mile radius, this investment offers strong potential for long-term returns. The favorable climate of Riverside, CA, with an average of only 34 rainy days per year, ensures consistent operational performance.

Highlights

  • Corporate guarantee provided by Super Star Car Wash, a multi-state operator with 100+ locations and significant expansion plans.
  • Qualified for Bonus Depreciation; consult your tax advisor.
  • New 20-year lease with 10% rent increases every 5 years; rent commences at closing.
  • Over $9.28MM in guaranteed income over the base lease term, yielding a 7.54% blended cap rate at list price.
  • High visibility location with excellent access from Hole Ave, California Ave, and Collett Ave; combined ±47,900 vehicles per day (VPD).
  • Riverside, CA's low annual rainfall (34 days) ensures year-round car wash demand.

Property Details for 10561 Hole Ave

Property type
Specialty properties, Car washes
Square Feet
6,208 SF
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
57,499 SF
Units
1

Location Insight

City
Riverside
County
Riverside
State
California
Latitude
33.9171748
Longitude
-117.4735577
10561 Hole Ave, Riverside, California

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10561 Hole Ave
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