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Tenant Profiles

Zips Car Wash

B+E > B+E INSIGHTS > Tenant Profiles > Zips Car Wash
04/30/2025 By B+E

Zips Car Wash

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

zips car wash

Zips Car Wash Tenant Overview

Founded in 2004 and headquartered in Plano, Texas, Zips Car Wash is the largest privately held car wash operator in the U.S., with over 280 locations across 25 states primarily in the markets of Tennessee, Texas, North Carolina, Arkansas, and Florida. The company focuses on high-performance employees, advanced technology, and local partnerships. Zips washes around 24 million cars annually, generating $303 million in revenue. Acquired by Atlantic Street Capital in 2020, Zips expanded by acquiring Jet Brite Car Wash in 2022. Despite rapid growth, Zips faced financial challenges, entering Chapter 11 bankruptcy due to $654 million in debt. As part of its restructuring, it has sold locations in Orlando and plans to sell St. Louis locations, while securing a $30 million loan to support the process.

zips car wash

Tenant Data:

COMPANY Zips Car Wash
GuarantorZips Car Wash, LLC
HeadquartersPlano, TX
Private Equity PartnershipAtlantic Street Capital
OwnershipPrivate
Annual Revenue± $303 Million (2024)
Locations± 280
RegionsSoutheast, Midwest
Employees± 1,800
Websitewww.zipscarwash.com
Average Zips Car Wash
Number on Market5
Average Price$4,432,786
Average Remaining Term12.3 Years
Average Cap Rate7.23%
Average NOI$314,575
Average PPSF$1,244
Average Building SF3,477 SF
Average Lot Size1.09 AC
AS OF 04/01/2025

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