Mister Car Wash · American Fork, UT

Mister Car Wash Absolute NNN

83 West State Street · American Fork, UT 84003 · Specialty Retail

Asking price

$5,003,035

Cap rate

7.25%

NOI

$362,727

Need financing on this deal

We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeAbsolute NNN

Term remaining7.2 yrs

Expiration09/2033

Rent bumpsCPI increase Annually Not to Exceed 2%

Options4 x 5 Year Options

Ground leaseNo

Credit profileCorporate Guarantee

TenancySingle

Planning a 1031 Exchange

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Property

Building SF11,725

Price / SF$427

Year built—

Lot size1.14 ac

TypeStorefront, Auto Shop

Days on market10

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

Absolute NNN Lease, Zero Landlord Responsibilities: Corporate-guaranteed lease with over 7 years of primary term remaining (expires 9/30/2033) plus 4 x 5-year renewal options extending potential hold to 2053. Rent escalates via CPI annually, capped at 2%, with the tenant responsible for taxes, insurance, CAM, roof/structure, and all repairs and maintenance.
Institutional Credit Just Got Stronger: $3.1B Take-Private by Leonard Green & Partners: On February 17, 2026, Mister Car Wash entered a definitive merger agreement to go private at $7.00/share cash, backed by Leonard Green & Partners, one of the most established consumer/services-focused private equity firms in the country. The transaction signals institutional conviction in the durability of Mister Car Wash's cash flows and positions the guarantor behind a well-capitalized sponsor going forward (subject to customary closing conditions).
Scaled, Growing National Platform: Mister Car Wash now operates 549 locations as of Q1 2026 (up from 500 at the time of the prior offering), and full-year 2025 net revenue crossed $1 billion for the first time — $1,051.7MM, up 6% year-over-year — with Adjusted EBITDA growing 8% to $345.4MM.
Recurring, Subscription-Driven Revenue Model: The Unlimited Wash Club (UWC) has grown to approximately 2.5 million members (+11% YoY) and now accounts for 76% of total wash sales, up from 71% previously — reinforcing a recession-resistant, membership-based revenue base rather than reliance on one-off transactions. Q1 2026 net revenue rose 6% to $277.9MM with net income up 26.7%.
Outparcel to The Meadows, American Fork's Dominant Power Center: The property sits within a shopping corridor anchored by Target, Walmart Supercenter, Costco Wholesale, Lowe's, Barnes & Noble, Best Buy, TJ Maxx, Kohl's, HomeGoods, Ross, Burlington, and Ulta, alongside high-volume QSR draws including In-N-Out Burger, Chick-fil-A, Five Guys, and Olive Garden.
Direct Interstate Visibility: Positioned near the I-15/Veterans Memorial Highway interchange, which carries nearly 197,000 VPD, with additional frontage on State Street (32,199 VPD) and Pioneer Crossing (37,623 VPD) — placing the site at one of Utah County's busiest retail intersections.
Affluent, Dense Infill Trade Area: Over 168,800 residents and average household income of $149,767 within a 5-mile radius, with average home values near $662,000 — in American Fork, part of Utah's "Silicon Slopes" tech corridor within the Provo-Orem MSA, one of the fastest-growing metro economies in the country.
Tax-Advantaged Structure: Property qualifies for bonus depreciation, offering accelerated cost segregation benefits for qualifying buyers (consult your tax advisor).

Property overview

Sands Investment Group is pleased to exclusively offer for sale the 11,725 SF Mister Car Wash located at 83 NW State Road in American Fork, UT. This deal includes an Absolute Triple Net (NNN) Lease (Zero Landlord Responsibilities) and a corporate guaranty from the largest car wash operator in the country, which has been in business since 1969, providing for a secure investment.

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Asking-market observation aggregated from public listing sources, last observed Sep 4, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.