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Tenancy: Tsunami Express
Renewal Options: Four 5-Year Options @ 1.50%
Lease Expiration: 20 Years from COE
Rental Increases: 1.50% Annually

Tsunami Express Sale-Leaseback Portfolio:

4 total locations; 2 open and operating, 2 under construction with plans to open in Q1 2024

Corporately guaranteed lease by Tsunami Express

Absolute NNN lease with zero landlord responsibilities

20-year initial lease term with four 5-year options

1.50% annual increases during primary term and options

Properties Must Be Purchased as a Portfolio

About Tsunami Express:

10 locations and expanding rapidly with plans to reach over 30 sites by 2025

1 million cars washed in 2022, which is projected to double by 2024

The founders and current management team collectively posses 50+

years of car wash and business operations expertise

Backed by Global Venture Capital Firm, Point 72 Hyperscale, an Affiliate of Point72

Acquired Tsunami in November 2021

Founded by Steven A. Cohen, owner of the New York Mets and among

the top 100 on the Forbes billionaire list (more info)

Parent company manages over $30 billion in assets and employs over 2,500 people globally

Bonus Depreciation: Properties qualify for 80% bonus depreciation on car wash improvements

Bulk of the Portfolio Located in the Milwaukee MSA:

#1 largest MSA in Wisconsin

Over 1.56M Residents

Milwaukee is the 5th largest city in the Midwest

Ranked 2nd in Manufacturing Workforce in USA

Home to the headquarters of 6 Fortune 500 companies

Corporate and Unit Level Financials and Construction Budgets are Available Upon Request (contact broker for details)

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Listing Details


Address: Wisconsin

Price: $18,990,000

Cap Rate: 7.65%

Tenancy: Single Tenant

Status: Available