2350 Spinks Rd Flower Mound, TX 75028-7746

Exceptional investment opportunity: a 5,018 sq ft WhiteWater Express Car Wash in Flower Mound, TX. This fee-simple property boasts a 20-year Absolute NNN lease (16.1 years remaining) with a 1.25% annual rent bump, commencing December 18, 2020, and expiring December 31, 2040. Four 5-year options at fair market value are included. The property sits on a 2.21-acre lot and features a 6.75% cap rate with a current NOI of $300,000 and an asking price of $4,445,000. Built in 2018, this car wash benefits from a corporate guarantee from a multi-state operator with a $500 million net worth. The location is strategically positioned in a high-growth area, boasting a strong demographic profile with an average household income exceeding $206,000 within a 1-mile radius and significant population growth. The property is ideal for bonus depreciation, and the Texas location offers the advantage of no state income tax. This is a turnkey investment with minimal landlord responsibilities, offering significant long-term income potential and appreciation. The property's APN is R705826.