Car Pool SINGLE TENANT RETAIL INVESTMENT, VA 23111

 
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Patrick Hammond

Fortis Net Lease

Office Phone: 248-419-3808

Cell Phone: 810-624-1990

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Published on: Sunday, March 1, 2015 8:30:49 PM
Updated on: Sunday, March 1, 2015 8:30:49 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Virginia-40992

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 0

 

Building Size: 5,808 SqFt

Lot Size: 1 Acre

No of Stories: 1

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: No

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: Car Pool was started in 1977 when a local businessman purchased a car wash at 2900 Chamberlayne Avenue. Finding this to be a successful venture, he purchased a second car wash at 5514 West Broad Street in 1982 and Car Pool, Inc. started operating as Car Pool Auto Wash.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 6.5

Commission Split (%): 0

Complete Details


Year Build: 0

Building Size: 5,808 SqFt.

No of Stories: 1

Total Lot Area: 0.80 Acre

No of Parking: 0

No of Total Units: 1

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Not Specified

Building Class: Not Specified

Property on Ground Lease?: No

Net Lease Investment?: No

Business Price Included?: No

Roofing: Metal

Occupancy: 100%

Full Description


Car Pool was started in 1977 when a local businessman purchased a car wash at 2900 Chamberlayne Avenue. Finding this to be a successful venture, he purchased a second car wash at 5514 West Broad Street in 1982 and Car Pool, Inc. started operating as Car Pool Auto Wash. The company quickly gained a reputation of offering a convenient, fast car wash. The first Car Pool built from the ground up and the first to open south of the James was our location at 9850 Midlothian Turnpike. Car Pool continued to expand from 1985 to 1990 acquiring the old City Car Wash at 1203 N. Boulevard and building two new car wash locations at 9200 W. Broad Street and 10310 Hull Street. A state of the art detail shop at 5512 W. Broad Street (adjacent to the 5514 W. Broad Street wash location) was built in 1987. In 1995, Car Pool’s original owner built the 7123 Mechanicsville Turnpike location bringing the total Car Pool enterprise to seven car wash locations and one full service detail shop. In 2003, Car Pool, Inc. was sold to a new group of owners to become Car Pool, LLC. Within a year, the current Car Pool executive team was in place and brought expectations to restore the brand and create a unique car washing experience. The primary goal was to do what we do well – wash cars. The company culture shifted quickly to a more solid customer care and service oriented company. Car Pool expanded for the first time in 15 years by opening the Short Pump car wash location at 11950 West Broad Street in 2011. Car Pool’s philosophy is centered on four key factors: courtesy, speed, quality, and value. Thus, we strive to provide a high quality product and service to each customer that comes through Car Pool. We want everyone ever affiliated with the company to be proud of their association with a great Richmond institution.

Additional Properties


Property Highlights
  • Absolute NNN Lease—Zero Landlord Responsibilities
  • Absolute NNN Lease—Zero Landlord Responsibilities
  • Excellent Location w/ Ideal Demographics
  • Four (4), Five (5) Year Options With 10% Increases at Each
  • Next 10% Rent Increase will Occur In December of 2015
  • Traffic Counts on Mechanicsville Turnpike Alone Top 38,000 Cars Per Day
  • Subject Property is Located on the Areas Main Thoroughfare
  • Mechanicsville Turnpike Leads Directly into Downtown Richmond

Attached Documents


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