Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, freestanding, newly constructed Quick Quack Car Wash investment property located in Calexico, California. The tenant recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN, making this an ideal, management free investment opportunity for a passive investor. Quick Quack Car Wash offers lightning-fast, eco-friendly car cleaning services, utilizing state-of-the-art equipment for a spotless shine in minutes. With over 200 locations throughout the United States, it stands as one of the largest and fastest-growing car wash chains in the country.

Quick Quack Car Wash is strategically located along Imperial Ave, a major retail and commuter thoroughfare, with an average of 34,000 vehicles passing by daily. The property benefits from being near the major signalized intersection of State Highway 98 and Imperial Ave (combined 64,000 VPD). The investment is an outparcel to a high-volume Food4Less and Rite-Aid that serve over 960,000 visitors per year (per Placer.ai). Other tenants in the center include Carl’s Jr., Taco Bell, Subway, Starbucks, Popeyes, Dunkin’ Donuts (coming soon), and Dairy Queen (coming soon). Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The asset is located just minutes away from the Calexico West border crossing, one of the busiest borders in the U.S., with over 8.2 million vehicles and 3 million pedestrians entering in 2023. The U.S. General Services Administration recently completed the development of new vehicle inspection booths at the crossing. The $191 million project increases the number of vehicle inspection booths from 10 to 16. The additional 60% increase in vehicle inspection capacity will better facilitate vehicle processing and increase the number of crossings. The 5-mile trade area is supported by more than 44,900 residents and 10,000 daytime employees with an affluent average household income of $80,029.