Mister Car Wash Buys Retail Property In Tucson For $1.2M With Aaron LaPrise Of Cushman & Wakefield
5523 East Grant Road
$1,200,000
Building Size
—
Asset Type
Retail
Closing
Feb 28, 2024
AI
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.
Tucson Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93