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19808677
19808678

1780 Buford Hwy, Cumming, GA 30041

MM
CA 01732226
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
JP
CA CA 02090490
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners Newport Beach
$6,421,000
645 days on market
Updated 41 days ago

Mister Car Wash

Details
APN 200 068
Property Type Special Purpose
Sub Type Car Wash
Square Footage 4,117
Cap Rate 6%
NOI $385,261
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 25
Lease Expiration 10/30/2042
Remaining Term 16.4
Rent Bumps Yes
Lease Options 5 (5-year)
Price per SqFt $1,560
Year Built 2012
Acreage 1.610
Zoning Commercial
Parking Spaces 42 spaces
Parking Per SqFt 10.20
Lease Commencement 10/31/2017
Ownership Fee Simple (Land & Building)

Special Purpose | 6.00% CAP | 4,117 SqFt

Marketing description

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Mister Car Wash investment property located in Cumming, Georgia (Atlanta MSA). The tenant has approximately 18 years remaining on its current lease term with 5 (5-year) options to extend. The lease features 1.5% annual rental increases, steadily growing NOI and hedging against inflation. The lease is guaranteed by a subsidiary of the corporate entity and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Mister Car Wash is a leading car wash brand with over 420 locations across the United States.

The subject property is strategically located along Buford Highway, averaging 33,000 vehicles passing by daily. In addition, the site is located in close proximity to U.S. Highway 19, a major north-south highway serving the Eastern United States serving 75,000 vehicles per day. The car wash benefits from excellent visibility via significant street frontage and a large monument sign. Furthermore, the asset is ideally situated in a dense, regional retail corridor with nearby national/credit tenants including Aldi, Publix, Walgreens, Target, Walmart Supercenter, The Home Depot, Lowe’s, Ross Dress for Less, JoAnn Fabrics, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 117,000 residents and 40,000 employees, providing a direct consumer base from which to draw. Residents within 1 mile of the subject property boast an extremely affluent average household income of $186,548. Cumming, Georgia, a wealthy suburb of Atlanta, is located in Forsyth County, one of the fastest-growing regions of the United States.

Investment highlights

  • 18 Years Remaining | Annual Rental Increases | Corporate Guaranty | Well-Known & Established Brand

  • Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities

  • Strategically Located Along Buford Hwy. (33,000 VPD) | U.S. Highway 19 (75,000 VPD) | Excellent Visibility & Access | Significant Street Frontage | Monument Sign

  • Dense, Regional Retail Corridor | Strong National/Credit Tenant Presence

  • Affluent Atlanta Suburb | Direct Consumer Base | Strong Demographics in 5-Mile Trade Area

Listing Contacts

MM
CA 01732226
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
JP
CA CA 02090490
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners Newport Beach

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$385,261.00
$32,105.08/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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Additional Information

Name
Scott Tiernan
License
GA License No. 318675
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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