RealSource Group, a national commercial real estate brokerage company focused on retail, healthcare, automotive, and education properties, announced the firm completed a record year in 2022 with more than $100 million in single-tenant net-lease express car wash property sales. The sales represented a mix of sale-leasebacks, build-to-suits/pre-sales, and ground leases with four different express wash brands. The properties were located across eight states in the Midwest, South and southeastern United States. 

         According to RealSource’s senior vice president of investment sales, Austin Blodgett, “2022 was a record year for the net-lease car wash sector. The sale of net-lease express car wash properties reached more than $1.4 billion in sales volume, an 8.5 percent increase from 2021.” 

         Looking ahead to 2023, Blodgett expects demand to stay high for express wash properties and that the bonus depreciation benefits will continue to be a significant driver for buyers of these properties. “Even though the bonus depreciation amount in 2023 has dropped to 80 percent, it is still a very big tax advantage that no other product types have (except gas station/convenience stores),” Blodgett said.