Listed by Northmarq
$1,600,000
Perx Car Wash (Sale-Leaseback)
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 3,669
Cap Rate 7.50%
NOI $120,000
Occupancy 100%
Tenancy Single
Brand/Tenant Perx Car Wash
Lease Type Absolute NNN
Lease Term 20
Rent Bumps Yes
Lease Options 4, 5-Year Options
Year Built 1961
Year Renovated 2024
Buildings 1
Acreage 0.518
Investment Type Sale/Leaseback
Ground Lease No
Ownership Fee Simple
Sale Condition Sale for leaseback
Rare Low-Priced Abs. NNN Car Wash | 100% Bonus Depreciation | Limited Competition | 7.50% CAP
Marketing description
Northmarq is pleased to present for sale to qualified investors a sale-leaseback opportunity from Perx Car Wash located in Anderson, South Carolina. The purchaser will execute a new lease with the tenant at closing. The absolute NNN lease will feature an initial term of 20 years with 4 five-year extension options, a first-year rent of $120,000, and 2.0% annual rent increases. Fee simple car wash properties qualify for 100% Bonus Depreciation in 2026 (must consult a tax professional).
Investment highlights
- PERX CAR WASH | 20-YEAR SALE-LEASEBACK | 2.0% ANNUAL RENT INCREASES | ABSOLUTE NNN - Offered for sale is a new 20-year sale-leaseback opportunity from Perx Car Wash, a well-established local operator with an exceptional management team. Centrally located in downtown Anderson, SC, Perx has been the staple car wash destination in the Anderson community since 1961. The new 20-year lease will commence at the close of escrow and will feature 2.0% annual rent increases, four (4) five-year renewal options, and will be absolute NNN (zero landlord responsibilities).
- LOW PRICE POINT CAR WASH OPPORTUNITY WITH TAX ADVANTAGES - The property is offered at a low overall price point relative to other available car wash sale-leasebacks in the market making it an attractive option for a broad pool of investors seeking bonus depreciation or otherwise.
- ANMED MEDICAL CAMPUS & ANDERSON UNIVERSITY NEARBY | 9,000+ HEALTHCARE WORKERS, STUDENTS, FACULTY & STAFF - Perx Car Wash is located 0.5 miles from a major downtown AnMed Medical Campus and 1.0 mile from Anderson University, the largest private university in South Carolina. These major institutions provide a permanent source of traffic in the downtown Anderson corridor. The AnMed campus employs more than 4,000 workers and has more than 640 beds. Anderson University has an enrollment of approximately 4,500 students with more than 700 university faculty, administration, and staff.
- CONTINUOUS OPERATION AT THIS LOCATION SINCE 1961 - Perx Car Wash has been in continuous operation as a car wash in downtown Anderson since 1961. The wash has a loyal customer base that has patronized the location for generations.
- HIGH TRAFFIC INTERSECTION | 21K VPD | HIGHLY VISIBLE AND EASILY ACCESSIBLE - Perx Car Wash is located at the corner of East Greenville Street and North McDuffie Street which experiences a combined 21,000 vehicles per day. The location is highly visible and easily accessible to vehicles traveling in any direction through this intersection.
- LIMITED COMPETITION | ONLY FULL SERVICE CAR WASH IN DOWNTOWN ANDERSON - Perx enjoys the advantage of being the only full service car wash in downtown Anderson. The only viable full service or express wash competitors are more than 3 miles away.
- 100% BONUS DEPRECIATION ELIGIBLE | MUST CONSULT TAX ADVISOR - Car Wash properties are eligible for 100% Bonus Depreciation in 2026. Interested purchasers must consult a tax professional for more information.
Listing Contacts
Listed by Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$120,000.00
$10,000.00/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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