Robinson, TX - Mighty Wash 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, newly constructed, corporate guaranteed, Mighty Wash investment property located in Robinson, TX (Waco MSA). The tenant recently signed a brand new 20-year lease with 3 (5-year) options to extend. 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 with no landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor in a state with no state income tax. Mighty Wash is a Texas-based car wash chain founded in Lubbock, Texas, in 2012. Today, Mighty Wash operates 28 locations and counting throughout southeastern New Mexico and west Texas, continuing its commitment to providing high-quality car wash and detailing services.

Mighty Wash Car Wash is strategically located along Robinson Dr., a major retail and commuter thoroughfare, with an average of 28,100 vehicles passing by daily. The asset is situated directly across from a heavily trafficked Brookshire’s supermarket, which draws over 617,000 visitors annually (per Placer.ai). Other nearby national/credit tenants include McDonald’s, Dairy Queen, and O’Reilly Auto Parts, increasing consumer traffic to the area. The investment is located near Robinson’s primary, elementary, intermediate, junior high, and high schools, which serve over 2,400 students. This location ensures consistent traffic flow from the daily commutes of students, parents, and staff. The property benefits from excellent visibility and access due to significant street frontage and a large monument sign. The brand new 2024 construction features high-quality materials and distinct Mighty Wash design elements.