4035 Challenger Ave Roanoke, VA 24012-6735

This exceptional investment opportunity presents a Zips Car Wash located at 4035 Challenger Ave NE, Roanoke, VA 24012. Boasting a 6.75% cap rate and a substantial $428,464 NOI, this 4,578 square foot facility sits on a 1.11-acre lot and benefits from a triple-net (NNN) lease with a corporate guarantee. The lease, commencing November 15, 2018, has 14 years remaining, extending to November 30, 2038, with attractive 1.5% annual rent bumps. Six 5-year lease options provide further long-term security. The property enjoys a prime location on an outlot to a Kroger, benefiting from high visibility and traffic counts averaging 38,000 vehicles daily. Nearby retailers include Walmart, Lowe's, Chick-fil-A, CVS, and Starbucks, further enhancing its appeal. The property's proximity to a 440-acre industrial park housing Advance Auto Parts, Elizabeth Arden, FedEx Ground, Orvis, and a prospective Amazon facility, adds to its strategic value. The surrounding area boasts strong demographics, with an average household income of $91,383 within one mile and a population of 88,735 within five miles. Zips Car Wash, operating over 280 locations across 25 states under three brands, ensures a reputable and established tenant. This Roanoke location is situated in a thriving metropolitan region, a hub for transportation, finance, and industry in southwestern Virginia, and a renowned mountain biking destination. The asking price is $6,347,650. This property qualifies for bonus depreciation under the Tax Cuts and Jobs Act of 2017 (consult your CPA). 100% occupancy ensures immediate cash flow.