October 24, 2023 – Justin Spillane of Horvath & Tremblay has successfully completed the sale of Zips Car Wash in Little Elm, Texas. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $4,576,240.
The Zips Car Wash is located at 2073 Farm to Market Road 423 in Little Elm, Texas. The stand-alone building consists of 6,083 square feet and sits on 1.62 acres of land. Zips Car Wash has 14+ years remaining on a Triple Net (NNN) Lease with two (2), 10-Year renewal options. The lease features attractive 1.75% 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 more than 230 washes across 24 states in December 2022. Zips is strategically located along FM 423, the area’s primary commercial and commuter corridor. Zips is across the street from Starbucks, seconds from a Kroger Marketplace and an Aldi, and is 1-mile from a Walmart Supercenter and Lowe’s all of which drive significant traffic to the area. The Property is also surrounded by densely developed residential neighborhoods which provide a built-in customer base.
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.