Tidal Wave Auto Spa
Special Purpose | 6.75% CAP | 3,388 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Tidal Wave Auto Spa located at 1430 W. Wilson St., Borger, TX 79007. The site consists of roughly 3,388 rentable square feet of building space on an estimated 1.99-acre parcel of land. This Tidal Wave Auto Spa is subject to a 20-year Triple Net (NNN) lease, which commenced 12/29/2023. The annual rent will be $375,000 and has scheduled increases of 2.00% annually
Investment highlights
Strong Corporate Guarantee | The lease features a strong corporate guarantee from Tidal Wave Auto Spa’s corporate entity, New Potato Creek Holdings, LLC, providing investors with strong credit support. Tidal Wave Auto Spa expansive footprint of 300+ locations nationwide highlights the company’s proven operational success and reinforces the long-term stability of this investment.
Qualifies for 100% Bonus Depreciation | This property offers 100% bonus depreciation, offering notable tax advantages in the early years of ownership. This form of depreciation enhances after-tax cash flow and adds to overall investment returns, making this property ideal for investors looking for tax treatment on real estate holdings. Surmount is not a tax advisor. Please consult your own tax professional.
Key Economic Drivers | There are many notable nearby economic drivers that bring additional foot traffic to the immediate area. Golden Plains Community Hospital (GPCH), which serves as a cornerstone of healthcare for Hutchinson County and the surrounding region, The Dome Civic and Convention Center, Bulldog Football Stadium, and Borger High School are all located within a 1-mile radius of the subject property. This centralized location near many of Borger's destination locations drives consistent activity in the immediate area surrounding the subject property.
Dense Retail Corridor | Strategically located along W Wilson St, the site benefits from an average daily traffic count exceeding 13,500 vehicles. The site is also positioned within one of Borger's primary retail corridors. Notable nearby tenants include Walmart, United Supermarkets, Tractor Supply, Beals, Wendy's, and many more, driving consistent traffic and consumer activity to the immediate area.
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