Los Angeles. CA - 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 Los Angeles, California. The tenant, Super Star Car Wash recently signed a brand new 20-year sale-leaseback with 2 (5-year) and 1 (4 Year, 11 Month) option 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, 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 West Martin Luther King Jr. Boulevard, a major east–west thoroughfare serving South Los Angeles with approximately 42,900 vehicles per day, and is in close proximity to Interstate 110, which carries approximately 265,500 vehicles per day. West Martin Luther King Jr. Boulevard is a primary retail and commuter corridor providing direct access to Downtown Los Angeles and the greater Los Angeles basin. The Super Star Car Wash is positioned within a dense infill retail environment surrounded by national and credit tenants including Target, Ralphs, Smart & Final, Ross Dress for Less, CVS Pharmacy, Walgreens, Goodwill, and multiple quick-service restaurant pads. The asset is located near several dominant retail nodes and neighborhood shopping centers that further enhance consumer traffic to the site. In addition, the property is in close proximity to major institutional and employment drivers including University of Southern California (USC), Exposition Park, BMO Stadium, and California Hospital Medical Center. The subject property is situated within the center of a primary urban retail corridor with additional nearby national and regional tenants, grocery stores, service-oriented retailers, and restaurants that support strong daily traffic volumes and consistent cross-shopping to the site. The 5-mile trade area is supported by a population of over 1.25 million residents with an average household income of approximately $96,000, further reinforcing the long-term demand fundamentals for the subject property.

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Listing ID: a28TP000002EDM1YAO