Express Car Wash Ground
For Sale
Contact for pricing
15232 Wallisville Road, Houston, TX 77049
Absolute net ground lease for an express car wash built in 2007 within Black Rock Commons shopping center.
Property SizeContact for details
Days on Market121
Property Features for 15232 Wallisville Road
General Information
Standard status
Active
Property subtype
Retail
Financials
Cap Rate
6%
Business Included
Yes
Building Details
Year Built
2007
Listing Agency:
NewQuest Properties
(281) 640-7151
Listed By:
Dakota Workman · License #TX 717648
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 20 at 7:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NewQuest Properties
Investment Insights
Based on property information with market context.
Absolute net ground lease offering limited landlord responsibilities for an express car wash property built in 2007 as Mr. Bubbles. The property was acquired by Mister Car Wash and is part of the Black Rock Commons shopping center.
The ground lease is structured for 20 years, with the base term expiring in July 2028, and includes two additional 10-year option periods extending the lease through 2048. Current annual rent is $96,400 with a scheduled increase to $97,500 in 2023. If the options are exercised, annual rent increases to $105,000 for option 1 and $110,000 for option 2. The ground lease is offered free and clear at $1,575,000, with a 6% cap.
The asset is located at 15232 Wallisville Road in Houston, Texas. It is next door to a Walmart Supercenter and across the street from the 275,000-square-foot New Forest Crossing Shopping Center, anchored by Lowes, Ross, and 99 Cents Only.
The ground lease is structured for 20 years, with the base term expiring in July 2028, and includes two additional 10-year option periods extending the lease through 2048. Current annual rent is $96,400 with a scheduled increase to $97,500 in 2023. If the options are exercised, annual rent increases to $105,000 for option 1 and $110,000 for option 2. The ground lease is offered free and clear at $1,575,000, with a 6% cap.
The asset is located at 15232 Wallisville Road in Houston, Texas. It is next door to a Walmart Supercenter and across the street from the 275,000-square-foot New Forest Crossing Shopping Center, anchored by Lowes, Ross, and 99 Cents Only.
Key Highlights
- Absolute net ground lease with no landlord responsibilities.
- 20‑year ground lease with base term expiring July 2028; two 10‑year options extend the lease to 2048.
- Current annual rent $96,400 with rent increase to $97,500 in 2023.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 77049, TX
38,788
Population
12,618
Households
3.1
Avg Household Size
30
Median Age
15%
College-Educated
78%
High-School Grad
24.2 sq mi
ZIP Area
1,603
Density / Sq Mi
$70,514
Median Household Income
$37,262
Median Earnings
$1,491
Median Rent
$207,900
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Absolute net ground lease for an express car wash built in 2007 within Black Rock Commons shopping center.
Where is this car wash located?
The property is located at 15232 Wallisville Road Houston, TX.
What are key features of this property?
This property features: Absolute net ground lease with no landlord responsibilities.; 20‑year ground lease with base term expiring July 2028; two 10‑year options extend the lease to 2048.; Current annual rent $96,400 with rent increase to $97,500 in 2023.
