357 Ny-59West Nyack, NY 10994

For Sale
$6,539,714

High-Yield Car Wash Investment, 19+ Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
91
Exceptional investment opportunity: This 4,460 square foot, fully occupied car wash in West Nyack, NY, presents a compelling return. Boasting a 7.00% cap rate and a strong NOI of $457,780, this property offers a secure, long-term investment with a 21-year absolute triple net (NNN) lease commencing April 1, 2023, and expiring March 30, 2044. The lease includes 2.00% annual rental increases, minimizing landlord responsibilities. Situated on a 1.41-acre lot at 357 NY-59, this high-exposure location benefits from proximity to Interstate 87, experiencing high daily traffic volume (150,000 vehicles). The affluent surrounding area, with average household incomes exceeding $150,000, and its location directly across from the Palisades Center (13th largest mall in the US), ensures a robust consumer base. The property, renovated in 1984, offers a price per square foot of $1,466.30 and an asking price of $6,539,714. This is a rare chance to acquire a stable, high-performing asset in a prime New York market.

Highlights

  • 21-year absolute triple-net (NNN) lease with 2% annual rent increases, expiring March 30, 2044.
  • High-visibility location on NY-59, near Interstate 87, with 150,000 vehicles daily.
  • Strong consumer base: Average household income over $150,000, across from the Palisades Center mall.
  • 4,460 SF car wash; $6,539,714 asking price ($1,466.30/SF); 7.00% cap rate; $457,780 NOI.

Property Details for 357 Ny-59

Property type
Other specialty properties, Automotive properties
Square Feet
4,460 SF
Year Renovated
1984
Lot Size (sq. ft)
61,420 SF

Location Insight

City
West Nyack
County
Rockland
State
New York
Latitude
41.093828
Longitude
-73.9549204
357 Ny-59, West Nyack, New York

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357 Ny-59
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