Argyle Car Wash

Argyle Car Wash

Argyle, TX

Argyle, TX

Argyle Car Wash

Offered for sale is the opportunity to acquire an absolute net lease Argyle Car Wash in Argyle, Texas. The property consists of a 1,683-square-foot, freestanding building that sits on 1.03 acres of land. This is a sale/leaseback with 15 year lease term, with 10 percent rental increases every five years.

Price $1,800,000
Cap Rate 6.00%
Building Size 1,683 sqft
Lot Size 1.03 acres
Year Built 2021
Offering Memorandum

Andy Cepeda

Associate
(972) 755-5138
Andy.Cepeda@marcusmillichap.com
License: TX 806163

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
FINANCING TEAM

Duke Dennis

Director
(817) 932-6172

 

  • New 15-Year Absolute Net Lease with 10 Percent Rental Escalations Every Five Years
  • Affluent Trade Area - Average Household Income is $193,084 Within a Five-Mile Radius
  • Qualifies for Bonus Depreciation
  • 2021 Construction with an Automatic Car Wash and 13 Self-Service Bays – Open 24/7
  • Denton County was the Seventh Texas County to Surpass 1 Million Residents and Ranks Third Statewide in Population Growth for 2023
  • Planned Widening of US 377 (16,864 VPD), Representing a 41 Percent Increase in Vehicle Traffic Since 2020 to Accommodate Increased Traffic Volume
  • Surrounded by Numerous New and Developing Residential Neighborhoods
  • Growing Northern Region of the Dallas/Fort Worth MSA – 305 Percent Population Growth Since 2000 and 23 Percent Projected Growth by 2027 (Five-Mile Radius)

Andy Cepeda

Associate
(972) 755-5138
Andy.Cepeda@marcusmillichap.com
License: TX 806163

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
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