June 3, 2021 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Zips Car Wash in Edwardsville, Illinois. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $1,650,462.
The Zips Car Wash is located at 1601 Troy Road in Edwardsville, Illinois. The stand-alone building consists of 4,604 square feet and sits on 0.50 acres of land. Zips Car Wash has 18+ years remaining on an Absolute NNN Lease with six (6), 5-Year renewal options. The lease features attractive 1.5% annual increases throughout both the current term and the renewal option periods. The property features a corporate guaranty from Zips Car Wash, a leader in the express tunnel wash business that has grown from 25 locations in 2015 to surpassing 200 washes across 18 states in December 2020. Zips is strategically located at the hard corner intersection of Troy Road, the premier retail thoroughfare in Edwardsville, and 3rd Avenue, which features a combined (22,722 VPD) at the intersection. Prominent national and regional retailers along Troy Road include ALDI, Walmart Supercenter, PetSmart, Lowe’s, Sam’s Club, The Home Depot, Target, HomeGoods, Schnucks, Best Buy, Petco, Ross, Best Buy, Ashley HomeStore, and Kohl’s. The subject property is highly visible and easily accessible from 3rd Avenue.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.