19764 Interstate 45Spring, TX 77373

For Sale
$2,500,000

High-yield, NNN-leased car wash.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a brand-new, 3,596 square-foot Quick Quack Car Wash situated on a 1.31-acre lot in Spring, Texas. The property boasts a 20-year absolute NNN ground lease with a corporate guarantee from Quick Quack, a rapidly expanding national car wash chain. The lease includes four 5-year options, each with a 10% rent increase. The current annual net operating income (NOI) is $132,500, representing a 5.30% cap rate on the $2,500,000 asking price. This prime location directly off Interstate 45, a major thoroughfare with over 154,000 vehicles per day, benefits from high visibility and significant traffic. The property is ideally positioned across from Spring High School (2,800 students) and is surrounded by numerous national retailers, including Starbucks, Target, Best Buy, and more. The affluent Spring submarket boasts average household incomes exceeding $117,000 within a one-mile radius. Furthermore, ExxonMobil's headquarters is conveniently located just five miles away. Built in 2024, this property offers a secure, long-term investment with built-in rent escalations and a strong tenant in a high-growth area. The recent significant minority investment in Quick Quack by KKR further solidifies the company's financial strength and future growth potential. This is a rare opportunity to acquire a high-performing, passively managed asset with significant upside.

Highlights

  • Brand-new, 20-year absolute NNN ground lease with 10% rent increases every five years, including four 5-year options.
  • Located in Spring, TX, a high-income area with average household incomes over $117,000 within one mile.
  • High-traffic location directly off Interstate 45, with over 154,000 vehicles per day.
  • Across the street from Spring High School (2,800 students).
  • Excellent retail location near national retailers including Starbucks, Target, Best Buy, and others.
  • Five miles from ExxonMobil headquarters.

Property Details for 19764 Interstate 45

Property type
Other retail properties, Individual retail properties
Square Feet
3,596 SF
Year Built
2024
Lot Size (sq. ft)
57,064 SF

Location Insight

City
Spring
County
Harris
State
Texas
Latitude
30.051575
Longitude
-95.4299183
19764 Interstate 45, Spring, Texas

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19764 Interstate 45
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