Mister Car Wash-15 Yr Lse-Abs NNN-Low Rent

Highlights:

• CORPORATE LEASE WITH NYSE-LISTED MISTER CAR WASH, THE LARGEST U.S. CAR WASH OPERATOR WITH 500+ LOCATIONS AND $1B+ IN ANNUAL REVENUE
• STRICT CITY OF HESPERIA DEVELOPMENT CODES LIMIT NEW CAR WASH SUPPLY, ENHANCING VALUE OF EXISTING FACILITIES
• NEW 15-YEAR LEASE WITH MULTIPLE RENEWAL OPTIONS PROVIDING UP TO 34 YEARS OF LONG-TERM INCOME STABILITY
• BELOW-MARKET RENT CREATES FUTURE NOI UPSIDE AND LONG-TERM INVESTOR VALUE
• ABSOLUTE NNN LEASE WITH TENANT COVERING ALL EXPENSES, OFFERING HASSLE-FREE, PASSIVE INVESTMENT
• RENT INCREASES AND NEW PROTOTYPE CONSTRUCTION PROVIDE GROWING CASH FLOW AND HIGH VALUE

Description:

Faris Lee Investments is pleased to present the unique opportunity to acquire a brand new, corporate-executed absolute NNN ground lease with Mister Car Wash (NYSE: MCW), the largest car wash operator in the United States. With over 500 locations across 22 states and trailing twelve-month revenue exceeding $1 billion as of Q3 2025, the tenant offers established financial strength and brand recognition. This offering features a long-term fifteen (15) year primary lease with 3 (5 year) and 1 (4 Year) options, potentially extending the term to 34 years, providing exceptional long-term stability and security for the investor.
Development standards adopted by the City of Hesperia create a significant advantage by limiting future car wash supply. With new zoning and spacing restrictions designed to prevent market saturation, the City has established high barriers to entry for new competitors. This regulatory environment secures a protected market position for the asset, preserving market share and enhancing long-term value.
An Absolute Triple Net (NNN) Ground Lease structure ensures a completely passive ownership experience, with the tenant directly responsible for all property operations, including roof, structure, parking lot, repairs, maintenance, taxes, utilities, and insurance. Ideally suited for the passive investor or 1031 Exchange buyer, the lease also provides a growing income stream with 10% increases every five years, acting as a hedge against inflation & an increased return on investment. Furthermore, the current annual rent of $200,000 is significantly below the estimated market range of $225,000 to $400,000, creating intrinsic value and potential for future Net Operating Income (NOI) growth.
Situated as a freestanding property on the high-profile retail corridor along Main Street (32,900 VPD), Mister Car Wash is strategically positioned between two high-volume supermarket-anchored centers: Stater Bros. Markets and Vallarta Supermarket creating strong synergy & demand in the immediate trade area. This brand-new construction features the tenant’s latest prototypical layout, designed to increase sales volume while eliminating deferred maintenance. Hesperia serves as a vital hub along the highly trafficked Interstate 15 corridor connecting Coastal Southern California to Nevada, and the immediate trade area benefits from consistent daily needs traffic generated by the surrounding grocery anchors.

Hesperia, California, has a rich history marked by the influence of Spanish settlers, the Mojave Indian Tribe, and travelers of the Mormon Trail. The town’s name is derived from Hesperus, the Greek god of the West, reflecting its position and potential as a thriving community. In 1891, the Santa Fe Railroad land developers laid out the town site and envisioned it as a future metropolis, dubbing it “the Omaha of the West.” This early vision set the stage for Hesperia’s ongoing growth and development.
Today, Hesperia is experiencing significant growth and development. On March 6, 2024, the city announced that Maersk, a global logistics and container shipping leader, will expand into the newly developed Hesperia Commerce Center, a 1.2 million square foot facility. This marks the fourth largest deal in terms of total square footage signed in the Inland Empire in 2023. The trade area, encompassing over 600,000 people, includes the High Desert incorporated cities of Barstow, Apple Valley, Victorville, and Adelanto, along with unincorporated outlying areas. Additionally, major infrastructure projects like the Brightline high-speed railway, which will connect Los Angeles to Apple Valley and the Inland Empire, and the $1.5 billion BNSF Barstow International Gateway project, set to be the largest facility of its kind in North America, are poised to transform the region. The BNSF project alone will generate 20,000 direct and indirect jobs and is expected to begin construction in early 2026, with an opening in 2028.
Hesperia is also home to ambitious residential and commercial developments. The Silverwood project, a 9,000-acre master-planned community, will introduce 15,000 homes to the area. The project, led by John Ohanian, has been in the works for the past 30 years and is now fully graded. The Southern California Logistics Airport (SCLA) in nearby Victorville spans 2,200 acres and hosts world-class companies such as Boeing, General Electric, Keurig Dr. Pepper/Snapple, Newell Rubbermaid, and M&M/Mars, Inc. The airport features the longest runway in the country, supporting its role as a major aviation center. These developments, combined with Hesperia’s strategic location between Los Angeles and Las Vegas, proximity to recreational areas like skiing, beaches, and lakes, and its rich history, position the town as a burgeoning hub of economic activity and growth in the Inland Empire.

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