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29183678
29183677

1837 Lee Ave SW, Cullman, AL 35055

HC
AL AL 000168807 - 0, TN TN 263667 (+1)
Matthews
Listed by Matthews
$5,489,100
147 days on market
Updated 74 days ago

Mach-1 Express Car Wash | 7.50% Cap | 20-Yr Lease

Details
Property Type Retail
Sub Type Convenience Store, Gas Station (+1)
Square Footage 6,400
Cap Rate 7.5%
NOI $411,705
Occupancy 100%
Tenancy Single
Brand/Tenant Bluewave Car Wash, Mach-1 Express Car Wash
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 09/29/2044
Remaining Term 18.7
Rent Bumps Yes
Lease Options Four, 5-Year Options
Year Built 2024
Buildings 1
Stories 1
Acreage 3.000
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 09/20/2024
Ownership Fee Simple

1.5% Annual Bumps | Bonus Depreciation

Investment highlights

LEASE & LOCATION HIGHLIGHTS

• The subject property qualifies for Bonus Depreciation (please discuss with your accountant for more information).

• 2024 Built-to-Suit construction for Mach 1 Car Wash.

• Absolute NNN Lease with zero Landlord Responsibilities.

• 20-year lease with attractive 1.50% annual rent increases for the entirety of the lease (includes option periods).

• Densely populated retail corridor with national tenants such as Walmart, Lowe’s, ALDI, Chick-fil-A, Starbucks, AMC, Hobby Lobby, Planet Fitness, McDonald’s, Arby’s, Zaxby’s, Dairy Queen, Chicken Salad Chick, Tractor Supply, Golden Corral, Taco Bell, Big Lots, Sonic, PNC Bank, Slim Chickens, Burger King, KFC, Papa Johns, Harbor Freight Tools, and many more.

• Located adjacent to Heritage Park – a 72-acre sports complex, dog park, and trail. The park hosts more than 40 travel baseball and softball tournaments annually, which generate tens of thousands of visitors and millions in economic growth to the Cullman Park.

• Less than 1 mile from a Walmart Distribution Center.

• Corporately guaranteed lease from Mach One, Inc., the lease is also accompanied by a single entity guaranty as well as a person guaranty.

• Traffic counts over ±20,000 VPD on Cherokee Ave SW.

• 3-Mile population of ± 18,323 residents.

• 5-Mile population of ± 29,711 residents.

• Average household income of $96,361 annually.

Listing Contacts

HC
AL AL 000168807 - 0, TN TN 263667 (+1)
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$411,705.00
$34,308.75/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

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Additional Information

Name
Hutt Cooke
License
000168807-0, 000110253 - 0 (AL)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
Name
Hutt Cooke
License
AL 000168807 - 0
Brokerage Phone
866-889-0550
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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