Income Mix & Operations // Approximately 70% of annual income is derived from long-standing Plaza retail tenants and repeat car wash customers, creating durable cash flow and expense predictability. The Retail tenants reimburse utilities per lease terms while the on-site storage office is leased to a long-term tenant who also provides weekday site presence, supporting informal oversight. Three-phase power is available at the Plaza facility.
Storage Operations & Income Durability // The storage units remain well occupied and are secure behind push gates and natural layout of the facility. Income from the self-storage side of the property is remarkably stable, and with consistent foot traffic in & out of the property daily, marketing costs are very low. The Car Wash pricing model was increased by 16% in December of 2025 allowing investors to proforma a conservative 10% gain of Gross Car Wash income in 2026. While none of the businesses on its own are a large contributor to overall revenue, the consistent income for each aspect of this facility enables consistent cash flow.
Capital Expenditures & Improvements // The Plaza features new LED lighting and full camera coverage with 13 cameras creating a controlled and well-documented operating environment. The facility received internet installation enabling credit card processing at the car wash, a new mini-split HVAC system, an electrical smart meter, in addition to extensive tree trimming.
Lease Renewal // The anchor retail tenant, Kiko’s Restaurant – a 20 year mainstay of the property – has renewed their lease starting March 1, 2026. New terms include a monthly lease payment of $2,800 ($517 increase for the remainder of 2026, $601 increase for 2027, etc.) with 3% rent escalations on a 5 year term. It’s important to note that the lease has switched to NNN and has a personal guarantee from the occupant.
Andrew Beeckman
EquiCap Commercial in Association with ParaSell
