5762 Central Ave Toledo, OH 43615-1445
- Automotive properties
- 0.93 lot acres
Jan 17, 2024
Current Use by Public Records
- WhiteWater Express Car Wash / Car Wash
Property Details for 5762 Central Ave
- Lot size
- 0.93 lot acres
- Zone code
- 20-C2
- Property type
- Automotive properties
- APN
- 78-54155
- APU
- 7854155
Description
This exceptional investment opportunity presents a 3,756 square foot WhiteWater Express Car Wash located at 5762 Central Ave, Toledo, OH 43615. The property sits on a 0.93-acre lot and is currently operating at 100% occupancy under a 20-year NNN lease, commencing December 1, 2023, and expiring November 30, 2043. With 19 years remaining, this lease provides significant long-term stability and income generation. The current annual net operating income (NOI) is $303,750, representing a 6.25% capitalization rate. The lease includes annual rental increases of 1.25%, providing a hedge against inflation. Further enhancing the investment's security is a corporate guarantee from WhiteWater Express Car Wash, a company with over 100 locations across multiple states. Built in 2023, this property is eligible for 15-year accelerated depreciation and bonus depreciation, offering potential tax advantages. This is a rare opportunity to acquire a high-performing, well-located car wash with a strong tenant and a substantial remaining lease term. The property's strong financials, coupled with the long-term lease and corporate guarantee, make it an attractive investment for discerning buyers seeking stable, passive income. This is a turnkey investment with minimal management requirements.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,545,000
- ML approach
- $4,545,000
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Location Insight
- Map
- Local Demand
- City
- Toledo
- County
- Lucas
- State
- Ohio
- Longitude
- -83.6799
- Latitude
- 41.6769
- CBSA code
- 45780
- CBSA name
- TOLEDO, OH METROPOLITAN STATISTICAL AREA
