MISTER CAR WASH | $3,750,000 | 6.00% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale Mister Car Wash a single-tenant property located at 109 East Harper Street, Richland, Mississippi 39218.
The subject property is comprised of 2,928 square feet and was built in 2016. The building sits on a large 32,670 square foot lot located just off Highway-49 that oversees 48,000+ Vehicles Per Day.
Mister Car Wash will operate on a Corporate Absolute-Net lease with a new 20-year lease to begin following the close of escrow. The new 20-year lease will have 1.25% increases annually and Four, 5-year options.
Mister Car Wash is the nation’s largest car wash operator with over 320+ locations across 21 states. The company offers both full-service and express wash services through its conveyor-based car washes. In addition, Mister Car Wash operates lube centers and sells gasoline, sundries, and other automotive services at select locations. Mister Car Wash separates itself from the competition through its helpful and experienced staff members that excel with customer service and ultimately create an enjoyable and memorable experience every time a customer visits one of its locations. The company is headquartered in Tucson, Arizona, and has over 8,000 employees.
Leonard Green & Partners acquired Mister Car Wash in 2014. With Leonard Green & Partners’ financial sponsorship and experienced management team, Mister Car Wash has undergone substantial growth, including the addition of over 90 locations since 2014. Leonard Green & Partners is a leading private equity investment firm that has invested in over 90 companies including Shake Shack, SoulCycle, J. Crew, BJ’s, Aspen Dental, and Caliber Collision. Total Assets Under Management currently exceeds $25 billion.