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4035 Challenger Avenue
Roanoke, VA 24012
Asking Price
$6.79M
Cap Rate
6.5%
Asset Type
Car Wash Special-purpose
Class
Class B
What's Special
Corporate Lease | Annual Rent Increases | Zero Landlord Responsibilities <p>• Desirable lease term | 12.5 years remaining</p><p>• Annual rent increases of 1.50% provide steady NOI growth and a builtin hedge against inflation</p><p>• Corporate lease | Zips Car Wash, LLC | 211 locations across the U.S.</p><p>• Great visibility from Challenger Ave (US-460) | 38,000 VPD</p><p>• Outparcel to Kroger | 106K SF grocery center</p><p>• Large parcel | 1.11 acres</p><p>• Attractive population density within a 5-mile radius | 88,468 residents</p><p>• Large industrial presence nea
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NOI
$80,000
Cap Rate
1.18%
DSCR
0.20
Underwater
Cash-on-Cash
-15.86%
Monthly Payment
$33,598.163
Annual Cash Flow
$-323,177.952
