Newly built Super Star car wash in Lake Elsinore sells for $3.4 million

A newly constructed Super Star Express Car Wash in Lake Elsinore, California, has sold for $3.4 million, according to reporting from Car Wash Business Center. The single-tenant property sits on a pad in a new Stater Bros-anchored retail development at the intersection of Central Avenue and Cambern Avenue.

Hanley Investment Group Real Estate Advisors arranged the deal. Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller and developer, Evergreen Devco, Inc. The buyer, a private investor based in Southern California, was represented by Dan Riley of CBRE.

Deal terms and location

The sale was structured as a 1031 exchange and secured on a pre-sale basis before construction was finished, with escrow closing shortly after the wash opened for business. The property carries a 20-year absolute triple-net ground lease with 10% rent increases every five years during both the base term and each option period. The lease places minimal responsibility on the landlord, making it a largely passive holding backed by Super Star, a 115-unit multi-state operator.

The site benefits from strong traffic and retail co-tenancy. It fronts Highway 74/Central Avenue, which carries roughly 28,000 vehicles per day, and sits near Interstate 15 at about 127,000 vehicles per day. The broader retail corridor draws an estimated 13 million annual visits, according to Placer.ai data cited in the announcement. Co-tenants at the center include an open 7-Eleven, a Pollo Campero sold earlier by Hanley, and a Dutch Bros Coffee currently on the market. The anchor Stater Bros is under construction and projected to open in the fourth quarter of 2026.

Asher said investor appetite for net-leased express washes in California remains high. He noted that operators like Super Star put significant capital into each site, which he said gives investors long-term security. Multiple qualified offers were generated before the deal closed.

Why it matters for operators

This transaction is a snapshot of how express car wash real estate is being valued and traded, and operators should take note even if they never plan to sell. The willingness of a 1031 exchange buyer to commit before construction wrapped signals that well-located, single-tenant wash properties with long-term absolute triple-net leases continue to command investor demand in high-growth markets.

The deal structure is instructive. Super Star operates under a ground lease, meaning the operator invested its own capital in the building and equipment while a passive investor owns the underlying real estate. This sale-leaseback style approach lets multi-unit chains recycle capital into new locations rather than tying it up in land and improvements. Operators weighing expansion should understand how these arrangements free up cash flow and how the terms, including 10% rent bumps every five years, affect long-term occupancy costs.

Site selection also stands out. The wash landed on a grocery-anchored pad with strong traffic counts and national co-tenants such as Costco, Target, and Home Depot in the trade area. Those fundamentals drive both car counts and real estate value. For operators evaluating new sites, the combination of high visibility, freeway access, and established retail neighbors remains the formula that attracts both customers and future buyers.