Whistle Express Car Wash | Myrtle Beach, SC
6.34% CAP | Absolute NNN | 17.5+ Yr Lease Term
Marketing description
PRICING: $7,700,000
CAP RATE: 6.34%
NOI: $488,516
LEASE TERM: 17.5+ YEARS
INCREASES: 2% ANNUALLY
Investment highlights
LONG-TERM ABSOLUTE TRIPLE NET (NNN) LEASE
The property is subject to an Absolute Triple Net (NNN) lease with Whistle Express Car Wash, which has over 17 years of lease term remaining and zero landlord responsibilities. The tenant is responsible for all management obligations at the property, including property taxes, insurance, and all repairs & maintenance at the property, including the roof & structure. Additionally, there are 2% annual rental increases built into the lease, providing the owner with positive rent growth and a hedge against inflation.
CORPORATE GUARANTY LARGEST CAR WASH OPERATOR IN THE US
The lease is corporately guaranteed by Whistle Express Car Wash, the largest car wash operator in the US with over 530 locations across 23 states.
LOCATED IN DOMINANT RETAIL CORRIDOR
The subject property benefits from its positioning within a strong retail area, with several nearby shopping centers and major national retailers. These include Surfside Commons Shopping Mall, anchored by Walmart Supercenter, and a major power center across the highway, which features prominent retailers such as Lowe’s, Kohl’s, Ross Dress for Less, PetSmart, Office Depot, and more. Other national retailers in the vicinity include Target, Marshalls, ALDI, 7-Eleven, Dollar Tree, and more.
QUALIFIES FOR ACCELERATED AND BONUS DEPRECIATION
The subject property qualifies for both Accelerated Depreciation as well as the recently reinstated 100% Bonus Depreciation per the “Big Beautiful Bill” legislation passed in 2025. Please consult your CPA for more information.
EXCELLENT SITE-LEVEL VISIBILITY
The property has great visibility from and is nearby a point of entry to US Highway 17, a major thoroughfare in Myrtle Beach which has traffic counts of 42,463 vehicles per day passing in front of the site.
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