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Mister Car Wash Buys Retail Property In Tucson For $1.2M With Aaron LaPrise Of Cushman & Wakefield
SOLD
$1,200,000
Arizona
See Similar DealsRetail
Sold 02/28/2024
SOLD
Mister Car Wash Buys Retail Property In Tucson For $1.2M With Aaron LaPrise Of Cushman & Wakefield
5523 East Grant Road
See Similar DealsRetail
Sold 02/28/2024
Summary
ARIZONA
Asset Type:Retail
Transaction Type:Sale
The property located at 5523 East Grant Road in Tucson, AZ, was sold for $1,200,000. Mister Car Wash, represented by John Lai, purchased the retail asset from Nam Nguyen Inc.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $1,200,000
- Buyer: John Lai - Mister Car Wash
- Seller: Nam Nguyen Inc
- Broker: Aaron LaPrise - Cushman & Wakefield
Aaron LaPrise of Cushman & Wakefield | PICOR played a pivotal role in the deal, representing both the buyer, Mister Car Wash, and the seller, Nam Nguyen Inc. The property is set to undergo a transformation and will be redeveloped into a new car wash facility, expected to open its doors in late 2024.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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