SRS  Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, True Blue Car Wash investment property located in Phoenix, Arizona. The tenant, True Blue Car Wash, LLC, has over 17 years remaining on their initial term with 4 
(5-year) options to extend, demonstrating their long term commitment to the site. The lease features 2% annual rental increases throughout the initial term and continuing into the option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. True Blue Car Wash is a rapidly growing brand with over 65 locations around the country, operating under the regional banners of Clean Freak Car Wash in the Southwest, Rainstorm Car Wash in the Midwest, and Personal Touch Car Wash in the Northeast.

Offering Memorandum

True Blue Car Wash is located along W Camelback Rd, which averages 44,200 vehicles passing by daily and is one of the major retail thoroughfares serving the city 
of Phoenix. The asset is less than a mile south of Christown Spectrum, a 1,090,000 square foot shopping center with major tenants including a Walmart Supercenter, Costco Wholesale, Target, PetSmart, and more. In addition, True Blue Car Wash is located just west of Camelback Village Square, a 133,000 square foot shopping center anchored by Fry’s Food & Drug and LA Fitness. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Ross Dress For Less, Dollar Tree, CVS Pharmacy, Raising Cane’s, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile local trade area is supported by a strong population of over 478,400 with an average household income of $81,601.

Phoenix, AZ - Clean Freak Car Wash (Camelback)

<p>Ivy Kwon joined SRS Real Estate Partners in 2017 and is a Senior Marketing Associate in the Newport Beach office. Ivy is responsible for online marketing including social media and email marketing for SRS’ Capital Markets team. She also oversees pipeline management and coordinates events. Before joining SRS, Ivy worked in the entertainment industry doing marketing and merchandising. </p><p>Ivy has a BA degree from Chapman University. </p>

Investment Offering

Phoenix, AZ - Clean Freak Car Wash (Camelback)

Description

Documents & Links

Contact

Matthew Mousavi

Patrick Luther, CCIM