5762 Central AveToledo, OH 43615

Property Details for 5762 Central Ave

Lot size

0.93 AC

Zone code

20-C2

Property type

Retail properties

Property subtype

Other automotive properties

APN

78-54155

APU

7854155

Description

This exceptional investment opportunity presents a 3,756 square foot WhiteWater Express Car Wash located at 5762 Central Ave, Toledo, OH 43615. The property sits on a 0.93-acre lot and is currently operating at 100% occupancy under a 20-year NNN lease, commencing December 1, 2023, and expiring November 30, 2043. With 19 years remaining, this lease provides significant long-term stability and income generation. The current annual net operating income (NOI) is $303,750, representing a 6.25% capitalization rate. The lease includes annual rental increases of 1.25%, providing a hedge against inflation. Further enhancing the investment's security is a corporate guarantee from WhiteWater Express Car Wash, a company with over 100 locations across multiple states. Built in 2023, this property is eligible for 15-year accelerated depreciation and bonus depreciation, offering potential tax advantages. This is a rare opportunity to acquire a high-performing, well-located car wash with a strong tenant and a substantial remaining lease term. The property's strong financials, coupled with the long-term lease and corporate guarantee, make it an attractive investment for discerning buyers seeking stable, passive income. This is a turnkey investment with minimal management requirements.

• CAP approach

  CAP return

  Valuation

  6%

  $10,161,476

  6.5%

  $9,379,824

  7%

  $8,709,837

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,518,406

  Geo Method

  $9,518,406

• Alternative Use

  Use

  Valuation

  Residential

  $7,912,233

  Hospitality

  $7,247,562

  Educational

  $6,029,887

  Medical

  $6,237,264

  Retail

  $9,379,824

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.6769

Longitude

-83.6799

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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