Hybrid Car Wash

Highlights:

• New 20-year lease with 2% annual rent increases throughout the initial term and options. Rent to commence at close of escrow.
• 5-bay self-serve car wash | Full -service conveyor style car wash | Full Detailing Service | self-serve Pet Wash | 8 vacuum stations.
• Fully renovated with new ownership in 2022. All self-serve and full-serve equipment replaced in 2022.
• The Phoenix metropolitan area has a population of 4.8 million residents and is one of the fastest growing super-regional cities in the United States.
• One of the most sought after neighborhoods in Phoenix, Ahwatukee ranks #1 as ”the best neighborhood to live in Phoenix”.
• The property services the affluent Ahwatukee Phoenix suburb consisting of over 82,000 residents with an average Household Income of $165,386 within a 1-mile radius.
• Positioned along Chandler Boulevard; Ahwatukee’s major retail thoroughfare with over 52,000 vehicles per day.

Description:

RDO Investments is excited to present a premier opportunity to acquire a Soak+Shine Auto Wash, strategically positioned along the primary retail corridor of Chandler Boulevard in the highly desirable Phoenix suburb of Ahwatukee. This 20-year Sale-Leaseback investment offers significant benefits, including eligibility for bonus depreciation, allowing investors to maximize tax savings in the first year of ownership.

The offering provides the rare opportunity to acquire an absolute NNN fee simple interest in a recently renovated full and self-service car wash along the highly trafficked Chandler Boulevard retail thoroughfare. The facility is outfitted with five self-serve bays, one full-service conveyor style full wash and 8 Mega Vac Industrial Vacuums. The property was originally constructed in 1996, fully remodeled, and under new ownership in 2022.
 
Soak + Shine offers a hybrid approach to the fast-growing car wash industry with a full-service conveyor-style car wash or the option for self-service in one of their five bays. In addition, the property has an onsite Detailing service and a Dog Washing Station.
 
The property is located on an outparcel to Foothills Village Center which is anchored by Goodwill, Ahwatukee Foothills Montessori School and 24,000 SF of Regional and Local businesses. Other outparcels include Circle K and Dutch Brothers. The site is located minutes from Interstate 10 and the Loop 202 which have daily traffic counts over 222,555 combined. Both Chandler Boulevard and 32nd Street have combined traffic counts over 61,000 daily.

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