PEORIA, ARIZONA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Super Star Car Wash, a 4,619-square-foot net-leased property located in Peoria, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $6,750,000 ($1,461 PSF).
Zack House, Waylan Heers, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The asset has a new 20-year absolute triple-net lease with excellent tenant financials and 10% rental increases every five years
Super Star Car Wash is located at 24970 North 67th Avenue in Peoria, Arizona. Adjacent to Terazza Center, a mixed-use development with retail, a senior living facility, Lifetime Fitness and more, the property is visible to over 32,200 vehicles per day along North 67th Avenue. Super Star Car Was is easily accessible to 173,691 residents withing a five-mile radius, where the average annual household income exceeds $143,000 in the immediate area.