Whistle Express
Retail | 6.15% CAP | 4,350 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Whistle Express located at 1870 S Church St, Murfreesboro, TN 37130. The site consists of roughly 4,350 rentable square feet of building space on an estimated 1.3-acre parcel of land. This Whistle Express is subject to a 17-year Triple Net (NNN) lease, which commenced 3/30/2021. The current annual rent is $233,136 and has scheduled increases of 1.50% annually
Investment highlights
Long Term Absolute Triple Net (NNN) Lease | There are over fifteen (15) years remaining on an original twenty year absolute triple net lease, with no landlord responsibilities.
Accelerated and Bonus Depreciation | This property may qualify for 15-year Accelerated Depreciation as well as newly reinstated 100% Bonus Depreciation.
Annual Rental Increases | This lease features attractive annual increases of one-and-a-half percent (1.50%) throughout the remainder of the base term as well as the option periods.
Corporate Guarantee | Whistle Express, the leading company in the evolving car wash industry, has officially closed its acquisition of Driven Brands’ Take 5 Car Wash. The newly combined company now operates 530 locations across 23 states, making it the largest express car wash company.
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