Tenant Profiles

Zips Car Wash

B+E > B+E INSIGHTS > Tenant Profiles > Zips Car Wash

02/28/2024 By B+E

Zips Car Wash

https://www.zipscarwash.com/ | Atlantic Street Capital

3
Number on Market

$4.5M
Average Price

15.4
Average Remaining Term (Years)

6.50%
Average Cap Rate

Zips Car Wash Tenant Overview

Founded in 2004, Zips Car Wash is a national car wash chain, headquartered in Plano, TX. Zips operates more than 230 locations nationwide, with the most found in Tennessee, followed by Texas, North Carolina, Arkansas, Florida, and more.

Zips is a Limited Liability Company with no parent company; however, it is partnered with private equity firm Atlantic Street Capital. In 2022, Zips acquired Jet Brite Car Wash, an 11-store mega car wash chain in Chicago. Zips aims to revolutionize the car wash industry by building a team of high-performing employees at its ride-thru tunnel car washes with free self-serve vacuums. Recent expansion accolades include brand new openings in Detroit Lakes and Baxter, MN, as of September 2023.

Tenant Data:

COMPANY	Zips Car Wash
Guarantor	Zips Car Wash, LLC
Ownership	Private
Private Equity Partnership	Atlantic Street Capital
Headquarters	Plano, TX
Locations (North America)	± 230
Regions	South, Midwest
Website	www.zipscarwash.com

Average Zips Car Wash Info
Number on Market	3
Average Price	$4,500,700
Average Remaining Term	15.4 Years
Average Cap Rate	6.50%
Average NOI	$292,546
Average PPSF	$1,355
Average Building SF	3,696 SF
Average Lot Size	1.09 AC
AS OF 02/01/2024