Six-Location Net Lease Car Wash
New
For Sale
Contact for pricing
5550 W Charleston Blvd, Las Vegas, NV 89146
Six operating car wash facilities are consolidated under one master lease with renewal options and no landlord responsibilities.
Property Size28,476 SF
Price / SF$830.63
Days on Market7
Property Features for 5550 W Charleston Blvd
General Information
Standard status
Active
Size
28,476 SF
Property subtype
Special Purpose
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$1,655,765
Building Details
Buildings
6
Tenancy
Single
Listing Agency:
JLL - Dallas | Cedar Springs, Texas
Listed By:
Caroline Pinkston · License #601565
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 2:23PM
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 JLL - Dallas | Cedar Springs, Texas
Investment Insights
Based on property information with market context.
This portfolio comprises six operating car wash facilities totaling 28,476 SF in Las Vegas, Nevada. The properties are operated by GO Car Wash and are structured under a single master lease. Lease terms include 16.4 years remaining, 1.5% annual escalations, four five-year renewal options, and zero landlord responsibilities. The portfolio is also eligible for 100% bonus depreciation.
The properties are located in Las Vegas, with the listed address at 5550 W Charleston Blvd. The source information identifies the portfolio as being near Downtown Las Vegas or the Las Vegas Strip. GO Car Wash operates more than 150 locations across 11 states, providing an established operating platform for the six facilities.
The properties are located in Las Vegas, with the listed address at 5550 W Charleston Blvd. The source information identifies the portfolio as being near Downtown Las Vegas or the Las Vegas Strip. GO Car Wash operates more than 150 locations across 11 states, providing an established operating platform for the six facilities.
Key Highlights
- Six Las Vegas car wash locations totaling 28,476 SF
- Single master lease with 16.4 years remaining
- 1.5% annual lease escalations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$688,776
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,775,520
$13.8M
Cap Rate 7%
$9,839,657
$9.8M
Cap Rate 9%
$7,653,067
$7.7M
Market Conditions
NOI Build-Up for 28,476 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$973.9K $34.20/SF
− Vacancy
−$55.5K −$1.95/SF
EGI
$918.4K $32.25/SF
− OpEx
−$229.6K −$8.06/SF
NOI
$688.8K $24.19/SF
Area
Las Vegas, NV
Vacancy
5.70%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,775,520
Cap Rate 7%
$9,839,657
Cap Rate 9%
$7,653,067
Alternative Uses
Best Use
Specialty Retail
$9.84M
$8.61M – $11.48M
NOI $688,776 @ 7.0% cap · market cap 2.91%
Second Best
Retail
$9.18M
$8.04M – $10.71M
NOI $642,858 @ 7.0% cap · market cap 2.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
Explore this area
Business Placement
Demographics for 89146, NV
19,777
Population
8,385
Households
2.4
Avg Household Size
40
Median Age
25%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
4,120
Density / Sq Mi
$64,330
Median Household Income
$38,121
Median Earnings
$1,407
Median Rent
$432,700
Median Home Value
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Six operating car wash facilities are consolidated under one master lease with renewal options and no landlord responsibilities.
Where is this car wash located?
The property is located at 5550 W Charleston Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $23,653,000.
What are key features of this property?
This property features: Six Las Vegas car wash locations totaling 28,476 SF; Single master lease with 16.4 years remaining; 1.5% annual lease escalations
