PureMagic Car Wash - Knoxville, TN
100% Bonus Dep. | Mammoth Holdings | Affluent TN Market | +16 Years
Investment highlights
Built 1st Polish Tunnel in U.S. History | Winner of Knoxville’s Best Car Wash — 9 Consecutive Years
Premier Location Adjacent to Turkey Creed | 410-Acre Mixed-Use Development — located in the affluent Farragut/West Knoxville area, this property is positioned to capitalize on the massive traffic flow from Turkey Creek, Kingston Pike, Parkside Drive, & visitors from I-75.
Affluent Demographics | Knoxville’s Booming Growth — the Farragut area is one of East TN’s most affluent regions, while Knox County as a whole has stood out as one of TN’s fastest growing counties.
Farragut Average Household Income: $182,084
Farragut Median Household Income: $142,093
100% Bonus Depreciation — this asset is eligible for 100% bonus depreciation, allowing for accelerated depreciation & the potential shelter of a major portion of cash flow from taxes. Each investor should consult with their tax advisor to determine the one’s eligibility & individual tax strategy/situation.
Corporate Guarantee | Impressive Operating History — Mammoth Holdings is an industry leading operator with more than 150 locations across 17 states. This site was one of the 1st locations dating back to the company’s founding in the early 2000’s.
Absolute Net (Abs.NNN) Lease Structure — zero landlord responsibilities.
Long Term Lease — nearly sixteen years (15.8 yrs) remaining in the initial term of the lease along with four options to renew the lease for a period of 5 years each time.
1.50% Annual Rent Increases — investors will capitalize on increased returns each year of the initial term & each subsequent option period that is renewed.
Close to the University of Tennessee — located only 4 miles from the largest university in the state. The University of Tennessee has a student population of over +38,000 & has had one of the largest increases in enrollment since COVID-19.
Tenant Investment | Large Building & Parcel — 4,030 SF building on over 1.40 acres. Expensive modern design + build-out from an industry leading operator.
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