Lorient Holdings acquired Sgt. Clean Car Wash at 18534 Pearl Road in Strongsville, Ohio, as a core net-lease investment designed to deliver durable cash flow, tax efficiency, and long-term capital preservation.
The property was leased under a brand-new 20-year absolute triple-net lease, providing predictable income with no landlord responsibilities. The lease is backed by a corporate guaranty and includes 2.0% annual rent escalations, offering built-in income growth over the lease term.
Sgt. Clean Car Wash is a veteran-owned, growth-oriented operator with nearly 20 locations open or under development across Northeast Ohio and a strong track record of operational execution. The brand has been recognized nationally, including Inc. 5000 and Vet100 Fastest Growing Veteran Company distinctions, reinforcing tenant credit strength and long-term viability. The format is a high-throughput express tunnel wash with membership-based recurring revenue.
The asset is strategically positioned within a dense retail corridor near Interstate 71, benefiting from traffic counts exceeding 63,000 vehicles per day and proximity to major national retailers, SouthPark Mall, and Strongsville High School. The surrounding area features affluent demographics, with average household incomes exceeding $117,000 within a one-mile radius.
The investment also qualified for accelerated and bonus depreciation, enhancing after-tax returns and making it particularly attractive for tax-efficient capital deployment.
The property was sold for $6.25 million, delivering a 14.8% return through a combination of operating cash flow and appreciation. Proceeds were redeployed through a 1031 exchange into The Grand at Market District.
