3681 Sunset Ave Springdale, AR 72762-4978

Property Details for 3681 Sunset Ave

Year built

1995

Lot size

0.81 lot acres

Property size

4,132 SF

Property type

Car washes

APN

815-29098-001

APU

81529098001

Description

This exceptional investment opportunity presents a fee-simple ZIPS Car Wash in Springdale, Arkansas. Located at 3681 W Sunset Ave, this 4,140 square foot facility sits on a 0.8-acre lot and boasts a strong 8.00% cap rate, generating a net operating income (NOI) of $169,483. The property benefits from a 20-year absolute NNN lease with ZIPS Car Wash, a corporate-guaranteed tenant, commencing May 3, 2018, and expiring May 2, 2038. This leaves a substantial 13.5 years remaining on the lease term, providing long-term stability and predictable cash flow. The lease includes annual rent bumps of 1.5%, ensuring consistent growth in rental income. Six, five-year lease options further extend the investment horizon. Built in 1995, this car wash benefits from its location in a robust retail corridor with high traffic volume (25,183 vehicles per day on W Sunset Ave and 65,707 vehicles per day on nearby I-49). The property's strong demographics, including a population exceeding 117,000 and a projected 3.01% average household income growth, contribute to its long-term viability. The car wash industry's robust growth, with 72% of drivers utilizing professional car washing services, adds to the investment's appeal. This property is eligible for accelerated depreciation and 60% bonus depreciation in 2024 (consult a tax professional for details). This is a rare opportunity to acquire a high-performing, low-maintenance asset with significant upside potential. The asking price is $2,118,538.

Location Insight

City

Springdale

County

Washington

State

Arkansas

Longitude

-94.1711

Latitude

36.1747

CBSA code

22220

CBSA name

FAYETTEVILLE-SPRINGDALE-ROGERS, AR-MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments