602 Apollo RdScott, LA 70583

Property Details for 602 Apollo Rd

Year built

2024

Lot size

1.39 AC

Property type

Specialty properties

Property subtype

Car washes

Description

This exceptional investment opportunity presents a brand-new, fee-simple WhiteWater Express Car Wash in Scott, Louisiana. Built in 2024, this 4,867 square foot facility sits on a 1.39-acre lot (APN 6175077) and boasts a 20-year absolute NNN corporate lease with four 5-year options at fair market value, featuring 1.25% annual rent bumps. The lease is fully guaranteed by a multi-state operator with a $500 million net worth, ensuring consistent income and minimal landlord responsibilities. The property generates a strong NOI of $300,000, resulting in a 6.75% cap rate, and is priced at $4,444,000. Its prime location on Apollo Road, near Interstate 10 and Highway 93, benefits from exceptional highway accessibility and proximity to the rapidly growing West Village development, a 143-acre mixed-use project featuring hundreds of new homes and apartments. This high-growth trade area experienced over 283% population growth within a 3-mile radius from 2010 to 2020. The car wash is part of a portfolio of 120+ locations, strategically managed with decades of industry experience and high recurring membership revenue. This property is ideal for bonus depreciation, making it an attractive investment for tax advantages. The location's proximity to Lafayette and its position midway between Houston and New Orleans further enhances its long-term potential.

Location Insight

City

Scott

County

Lafayette

State

Louisiana

Latitude

30.2326

Longitude

-92.1074

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