Newly built Super Star express wash trades for $3.4 million in California

A newly constructed Super Star Express Car Wash in Lake Elsinore, California, has sold for $3.4 million, a deal that highlights continued investor demand for single-tenant, net-leased express car wash properties in the state.

According to reporting from Auto Laundry News, Hanley Investment Group Real Estate Advisors arranged the sale. The property sits within a new Stater Bros anchored retail development at the signalized intersection of Central Avenue and Cambern Avenue.

Deal structure and parties

Hanley Investment Group EVP Bill Asher and EVP and partner Jeff Lefko represented the seller and developer, Evergreen Devco Inc. The buyer, described as a private Southern California investor, was represented by Dan Riley, senior vice president at CBRE.

The wash carries a 20-year absolute triple-net ground lease with 10 percent rental increases every five years during the base term and each option period. The lease places minimal responsibilities on the landlord, positioning the property as a passive, long-term retail asset. The tenant is a 115-unit, multi-state operator.

Asher said the brokerage generated multiple qualified offers and secured a 1031 exchange buyer on a pre-sale basis before construction was finished, closing escrow shortly after the location opened. He described investor demand for single-tenant net-leased express washes in California as very strong, noting that operators like Super Star put significant capital into each site, which he said gives investors security for long-term ownership.

The Stater Bros development also includes an open Pollo Campero location, with a Dutch Bros site currently on the market. Asher pointed to the surrounding growth as a draw for investors seeking net-lease assets in one of California's fastest growing markets.

Why it matters for operators

The transaction is a reminder that the real estate underneath an express wash can be as much a financial product as the wash business itself. Sale-leaseback and build-to-suit structures let operators expand while freeing up capital, and this deal shows investors are willing to commit before a location even opens.

For operators weighing growth, the terms here are worth studying. A 20-year absolute triple-net lease with scheduled 10 percent bumps every five years signals what today's investors expect: long commitments, predictable escalations, and minimal landlord obligations. Operators pursuing similar arrangements should be prepared to demonstrate the capital investment and multi-unit track record that made this tenant attractive.

The pre-sale close also illustrates how tightly development and financing can be linked in current market conditions. Locating within an established anchored retail center, in this case one tied to a grocery anchor and complementary quick-service tenants, can strengthen both traffic prospects and the resale value of the underlying real estate. Operators evaluating new sites may find that co-tenancy and location quality influence not only wash volume but also the terms available if they later choose to sell or lease back the property.

With investor appetite for these assets holding firm, well-positioned express washes remain a liquid asset class, giving operators flexibility to recycle capital into further expansion.