Horizon City, TX - Mister Car Wash

Description:

SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest in a 2023-constructed Mister Car Wash investment property located in Horizon City, Texas (El Paso MSA). The property has more than 18 years of primary lease term remaining with four (4) additional 5-year renewal options and 1.5% annual rental increases throughout the primary term and option periods, providing long-term income stability and steady NOI growth. The lease is backed by an unconditional guaranty from Car Wash Partners, LLC, a corporate subsidiary of Mister Car Wash, Inc., the largest car wash operator in North America. The subject property also demonstrates strong store performance, evidenced by a 3x rent coverage ratio, reflecting the location’s ability to comfortably support its rental obligations.

The property features strong frontage along Horizon Boulevard (45,400 VPD), a major retail artery, and is minutes from Darrington Road (25,000 VPD) and Interstate 10 (114,100 VPD), providing strong regional connectivity. The site is positioned within a dense retail corridor featuring national brands including Jack in the Box, Dutch Bros, and Applebee’s and is less than half a mile from a high-traffic Walmart Supercenter attracting approximately 3 million annual visits and ranking in the 87th percentile nationally and 82nd percentile in Texas among comparable locations (Placer.ai). Additional nearby tenants include Taco Bell, Whataburger, and Panda Express, driving consumer traffic and cross-shopping throughout the corridor. Multiple new commercial developments adjacent to the property further demonstrate ongoing investment and growth in the immediate area.

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