Car wash net lease investment properties have been one of the darlings of the net lease sector over the last few years as the business model has transitioned to being subscription-based, operators have become more sophisticated, and tax incentives like bonus depreciation have made these very attractive investments for retail or 1031 investors. The excitement and development in the car wash space has provided many investors with what they expected to be a long-term passive investment but has ended up being a nightmare for some owners and a ticking time bomb for others. The major threats that are affecting net lease investors who own car washes are:

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