142 Main St Farmington, AR 72730

Property Details for 142 Main St

Year built

2024

Lot size

2.31 lot acres

Property size

5,968 SF

Property type

Specialty properties

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a brand-new, 5,968 square foot Class A car wash in Farmington, Arkansas. Located on a 2.31-acre lot at 142 E Main St, 72730, this property boasts a prime location along a major retail corridor with daily traffic exceeding 31,000 vehicles, ensuring high visibility and accessibility. The property features a 20-year absolute net lease (NNN) with Splash Car Wash, the largest and fastest-growing car wash operator in Arkansas, providing a strong, recession-resistant tenant with a corporate guarantee. The lease includes favorable 1.5% annual rent bumps, guaranteeing consistent income growth. The asking price is $5,344,071, representing a 7.00% cap rate and a strong NOI of $374,085. Built in 2024, this property benefits from significant bonus depreciation opportunities. The tenant, Splash Car Wash, boasts over 40,000 members and performs 750,000+ washes annually. The property's strategic location near numerous national retailers, including Walmart, Lowe's, and more, further enhances its investment appeal. The surrounding area is densely populated and affluent, with an average household income exceeding $84,000 within a 3-mile radius and over 81,000 residents within a 5-mile radius. Its proximity to the University of Arkansas, a major university with over 27,000 students, adds to its long-term growth potential. Farmington's rapid growth further solidifies this investment's strong future prospects. This is a fee-simple ownership opportunity with significant tax advantages.

Location Insight

City

Farmington

County

Washington

State

Arkansas

Longitude

-94.2346

Latitude

36.043