360 Willowbrook Rd Coldwater, MI 49036-8847

Property Details for 360 Willowbrook Rd

Lot size

0.76 lot acres

Property type

Commercial real estate

APN

302-000-001-035-05

APU

30200000103505

Description

This exceptional investment opportunity presents a fee-simple interest in a WhiteWater Express Car Wash, located at 360 N Willowbrook Rd, Coldwater, MI 49036. The 4,620 square-foot car wash, built in 2002 and renovated in 2022, sits on a 0.76-acre lot and boasts a 20-year Absolute NNN lease with a corporate guarantee, commencing October 1, 2021, and expiring September 30, 2041. The lease includes four, five-year renewal options and features annual 1% rent bumps, ensuring consistent income growth. With a current NOI of $255,025 and a 6.00% cap rate, this property offers a strong return on investment. The property benefits from excellent visibility at a fully signalized intersection, with high daily traffic counts on Willowbrook Road and Chicago Street, providing direct access to Interstate 69. Surrounded by national retailers like Walmart, Home Depot, and Meijer, this location enjoys high consumer traffic. The tenant, WhiteWater Express Car Wash, provides high-quality car wash services, further enhancing the property's appeal. The asking price is $4,250,417, translating to $920 per square foot and $4,250,417 per unit. This is a truly passive investment opportunity with significant long-term potential. The property offers bonus depreciation benefits for the owner. The tenant is responsible for all taxes, insurance, and maintenance, minimizing landlord responsibilities.

Location Insight

City

Coldwater

County

Branch

State

Michigan

Longitude

-84.9703

Latitude

41.9365

CBSA code

17740

CBSA name

COLDWATER, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments