Plano, TX - Super Star Car Wash

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Super Star Car Wash investment property located in Plano, Texas. The tenant, Super Star Car Wash will commence a brand new 20-year lease at the close of escrow, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term, 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 an out of state investor.

The Super Star Car Wash is located along State Highway 121, near the signalized intersection of State Highway 121 and Coit Road with a combined (149,100 VPD). State Highway 121 is the major commercial thoroughfare connecting the cities of Plano and Frisco within the Dallas-Fort Worth metroplex. The Super Star Car Wash is adjacent to QuikTrip, Starbucks and Bojangles pads within a Kroger anchored retail node that also features national/credit tenants including McDonald’s, Whataburger and Panda Express. The asset is also adjacent to Signature Plaza, a neighborhood center featuring Subway, with a banking corridor including Chase, Bank of America and Comerica directly across State Highway 121. In addition, the Super Star Car Wash is minutes from Preston Lebanon Crossing, anchored by Sprouts Farmers Market and Hobby Lobby, as well as Stonebriar Centre, a super-regional mall anchored by Dillard’s, Macy’s and Nordstrom. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Walmart Supercenter, Sam’s Club, Target, Lowe’s, The Home Depot, IKEA, Kohl’s, CVS Pharmacy, AutoZone, RaceTrac and more, further increasing consumer traffic to the site. The subject property is in close proximity to Collin College’s Frisco Campus (37,772 students), BASIS Plano (1,000 students) and Baylor Scott & White Medical Center - Centennial (118 beds), as well as Riachi at One21, a 540-unit multifamily community directly east of the site. The 5-mile trade area is supported by a population of over 342,000 with an average household income of $189,104.

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