INVESTMENT OFFERING
SAB Capital is pleased to present Mighty Wash in Hobbs, NM. This is an absolute triple-net (NNN) sale-leaseback in which the tenant will sign a 20-year lease commencing at closing. The lease will feature annual rent escalations. Mighty wash currently operates 24 locations primarily located in West Texas and the Permian Basin.
- Mighty Wash in Hobbs, NM | Southeast New Mexico Location
- Zero Landlord Responsibilities | Absolute Triple Net (NNN) Lease Structure
- Long-Term Sale Leaseback Opportunity | Tenant Will Commence a New 20-Year Lease at Closing
- High Credit, Experienced Operator Founded in 2012
- The Subject Property Qualifies for Bonus Depreciation | 60% in Year 1
- Structured Hedge Against Inflation | Annual Increases – Best Offer
- Robust Local Population Growth | 20.1% Increase in 5 Mile Radius Since 2010
- Dense Retail Trade Area | 1.1M Square Feet of Retail Within 1 Mile
- Close Proximity to Interstate Highway | Under 2 Miles From NM-18
- National Retailers Located Nearby | Walgreens, The UPS Store, Permian Toyota, The Home Depot, and Many More
Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
---|---|---|---|---|---|
Mighty Wash | $4,979,498 | 8.00% | Absolute NNN | 14,789 | Available |