WhiteWater Express

Highlights

• LONG TERM LEASE - The subject property has over 18 years remaining on the initial term of a Corporate Absolute NNN Lease.
• BONUS DEPRECIATION - Fee simple ownership of a Car Wash provides the landlord the opportunity to use accelerated Bonus depreciation model. Consulting your Accountant or Tax Attorney is advised.
• EXCELLENT VISIBILITY - The immediate area sees over 16,600 Vehicles Per Day on Highland Rd and close to 37,100 Vehicles Per Day on U.S Highway 61.
• GREAT LOCATION - Well-located asset within the growing Baton Rouge MSA. Positioned directly next to Dollar General and near more than 90 major neighboring National Retailers including Walmart, Walgreens, Lowe's, Home Depot, Kohl's, Chic-fil A, Subway, Wendy's, McDonald's, Five Guys, Starbucks, and many more.
• RENTAL INCREASES - 1.25% Annual Rental increases throughout the base term gives the investor the ability to hedge against inflation.
• STRONG CORPORATE GUARANTOR - 100+ Locations by the end of 2022 backed by over 50 years of combined car wash experience between managing partners and Private Equity backed by Freeman Spogli & Co, a multi-billion dollar firm.
• ZERO LANDLORD RESPONSIBILITIES - Absolute NNN Lease. Ideal for Investors not Local to the Market or looking for a "hands off" investment. Tenant responsible for all taxes, insurance, and maintenance including roof, structure, and parking lot.

Description

Prime Net Lease is pleased to offer the opportunity to acquire the fee simple interest in a free standing WhiteWater Express Car Wash located in Baton Rouge, Louisiana. The subject property was built in 2012 and has operated successfully for the last 11 years. In 2022, WhiteWater purchased the site from the previous operator and signed a brand new 20-year Absolute NNN lease.

The original corporately guaranteed lease has over 18 years remaining on its initial term. This absolute NNN lease has a 1.25% annually rental increases during the base term and grants the Tenant four successive 5-year options to extend the lease.

The Property has excellent visibility and is conveniently situated on Gratiot Ave (which serves over 20,000 vehicles per day), between 24 Mile Road and 23 Mile Road which provides direct access interstate 94. Nationally recognized tenants such as 7-Eleven, CVS, Target, Lowe's, Meijer, Chase, Hobby Lobby, Aldi, Applebee's, Taco Bell, McDonalds and Buffalo Wild Wings all surround the Property, further driving consumers to the area.

Each WhiteWater Express Car Wash location provides the highest quality car wash services, with professional staff to tend to your every need! Large or small, you can receive an express car wash with high-intensity tri-color polish, wheel cleaning, rainfall rinse, rain repellant glass wax, high gloss tire shine, flash dry, a 3-day rain check guarantee and always FREE Vacuums!

Named by French explorers as "the Red Stick City," Baton Rouge is where Louisiana's capital, flagship university, and distinctive Cajun and Creole cultures all come together. Located in Southeast Louisiana, Baton Rouge is the fifth largest city on the Mississippi River and home to Louisiana's largest parish. Strategically seated at the mouth of the Mississippi River, the Baton Rouge area's assets are integral to the nation's logistics and energy networks. The city is about 79 miles from New Orleans, 126 miles from Alexandria, 56 miles from Lafayette and 250 miles from Shreveport. It is also 173 miles from Jackson, Mississippi and 272 miles from Houston, Texas. Since 2020, it has been the second-largest city in Louisiana after New Orleans; Baton Rouge is the 18th-most-populous state capital.

Baton Rouge is the heart and soul of the state’s eclectic culture. With over 300 years of history, Baton Rouge has a colorful story to tell, which can be tasted through our culinary offerings, seen through the picturesque views of the Mississippi River and historical landmarks and experienced through the vibrant arts and culture scene. In the “Red Stick,” every day is worth celebrating, even more so through our festivals and events held throughout the year.

Baton Rouge enjoys a strong economy that has helped the city be ranked as one of the "Top 10 Places for Young Adults" in 2010 by portfolio.com and one of the top 20 cities in North America for economic strength by the Brookings Institution. In 2009, the city was ranked by CNN as the 9th-best place in the country to start a new business.

Baton Rouge is a major industrial, petrochemical, medical, research, motion picture, and growing technology center of the American South. It is the location of Louisiana State University—the LSU system's flagship university and the state's largest institution of higher education. It is also the location of Southern University, the flagship institution of the Southern University System—the nation's only historically black college system. The Port of Greater Baton Rouge is the tenth-largest in the U.S. by tonnage shipped, and is the farthest upstream Mississippi River port capable of handling Panamax ships. Major corporations participating in the Baton Rouge metropolitan statistical area's economy include Amazon, Lamar Advertising Company, BBQGuys, Marucci Sports, Piccadilly Restaurants, Raising Cane's Chicken Fingers, ExxonMobil, Brown & Root, Shell, and Dow Chemical Company. In addition to being the state capital and parish seat, the city is the home of Louisiana State University, which employs over 5,000 academic staff. One of the largest single employers in Baton Rouge is the state government, which consolidated all branches of state government downtown at the Capitol Park complex.

Baton Rouge's largest industry is petrochemical production and manufacturing. ExxonMobil's Baton Rouge Refinery complex is the fifth-largest oil refinery in the country; it is the world's tenth largest. Baton Rouge also has rail, highway, pipeline, and deep-water access. Dow Chemical Company has a large plant in Iberville Parish near Plaquemine, 17 miles south of Baton Rouge. Shaw Construction, Turner, and Harmony all started with performing construction work at these plants.

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