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2610 E Main St 4,200 SF Specialty Building Offered at $8,013,315 CAD at a 6.50% Cap Rate in Russellville, AR 72802
Investment Highlights
- Well-positioned at the heart of the Russellville retail trade area with exposure to over 26,000 vehicles per day
- Draws local residents and students from the nearby Arkansas Tech University, along with outlying communities as well
- State-of-the-art car wash with large 2 acre parcel allows for abundant customer movement
Executive Summary
NAI Heartland is pleased to present an opportunity to purchase an absolute net leased express car wash investment occupied by Splash. A brand new 20-year lease commenced January 1st, 2023 and is accompanied with two 5-year options with 1.5% annual rental escalations throughout. Splash Car Wash is a quickly growing operator that currently has 22 locations in Arkansas with more to come and performs over 2,000,000 washes annually with a paying membership base in excess of 50,000. Furthermore, Splash employs over 375 people and has served Arkansas since 1983. The lease provides a full term personal and corporate guaranty from a guarantor with $50+ million in net worth.
Property Facts
| Price | $8,013,315 CAD | Building Class | C |
| Price Per SF | $1,907.93 CAD | Lot Size | 1.90 AC |
| Sale Type | Investment | Building Size | 4,200 SF |
| Cap Rate | 6.50% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1975 |
| Property Subtype | Car Wash | Opportunity Zone |
Yes
|
| Price | $8,013,315 CAD |
| Price Per SF | $1,907.93 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | C |
| Lot Size | 1.90 AC |
| Building Size | 4,200 SF |
| No. Stories | 1 |
| Year Built | 1975 |
| Opportunity Zone |
Yes |
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