602 Apollo Rd Scott, LA 70583
- Specialty properties
- 1.39 lot acres
Current Use by Public Records
- WhiteWater Express Car Wash / Car Wash
Property Details for 602 Apollo Rd
- Year built
- 2024
- Lot size
- 1.39 lot acres
- Property type
- Specialty properties
- Property subtype
- Car washes
Description
This exceptional investment opportunity presents a brand-new, fee-simple WhiteWater Express Car Wash in Scott, Louisiana. Built in 2024, this 4,867 square foot facility sits on a 1.39-acre lot (APN 6175077) and boasts a 20-year absolute NNN corporate lease with four 5-year options at fair market value, featuring 1.25% annual rent bumps. The lease is fully guaranteed by a multi-state operator with a $500 million net worth, ensuring consistent income and minimal landlord responsibilities. The property generates a strong NOI of $300,000, resulting in a 6.75% cap rate, and is priced at $4,444,000. Its prime location on Apollo Road, near Interstate 10 and Highway 93, benefits from exceptional highway accessibility and proximity to the rapidly growing West Village development, a 143-acre mixed-use project featuring hundreds of new homes and apartments. This high-growth trade area experienced over 283% population growth within a 3-mile radius from 2010 to 2020. The car wash is part of a portfolio of 120+ locations, strategically managed with decades of industry experience and high recurring membership revenue. This property is ideal for bonus depreciation, making it an attractive investment for tax advantages. The location's proximity to Lafayette and its position midway between Houston and New Orleans further enhances its long-term potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Scott
- County
- Lafayette
- State
- Louisiana
- Longitude
- -92.1074
- Latitude
- 30.2326
