San Diego, 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 San Diego, 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 Balboa Avenue, a major east–west retail corridor serving the City of San Diego with approximately 36,600 vehicles per day, and is in close proximity to Interstate 805, which carries approximately 205,000 vehicles per day. Balboa Avenue is a primary retail thoroughfare providing direct connectivity throughout the San Diego metropolitan area. The Super Star Car Wash is positioned near several dominant retail centers including Balboa Mesa Shopping Center and Clairemont Town Square, featuring national and credit tenants such as Target, Costco, Vons, TJ Maxx, Marshalls, and Ross Dress for Less. The asset is also located near University City Marketplace and Westfield UTC, two of the region’s premier retail destinations anchored by Whole Foods Market, Sprouts Farmers Market, Nordstrom, Macy’s, and numerous additional national retailers. In addition, the property is situated near major employment and institutional drivers including Kaiser Permanente San Diego Medical Center and MCAS Miramar, further increasing daytime population and consumer traffic to the site. The property is located within the center of a primary retail corridor with additional nearby national and regional tenants, restaurants, and service-oriented retailers that further enhance cross-shopping and sustained traffic volumes. The 5-mile trade area is supported by a population of over 338,000 residents with an average household income exceeding $139,000, reinforcing the long-term demand fundamentals for the subject property.

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