Listed by SURMOUNT
$5,463,255
Whistle Express Car Wash
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 4,230
Cap Rate 6.75%
NOI $368,770
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 20
Lease Expiration 11/30/2042
Remaining Term 16.4
Rent Bumps Yes
Lease Options 5, 5-Year Options
Year Built 2022
Acreage 0.780
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/21/2022
Ground Lease No
Ownership Fee Simple
About This Property for Sale
Marketing description
Surmount is pleased to present the exclusive listing for a Whistle Express located at 427 Bridge Street, Washington, NC 27889. The site consists of roughly 4,230 rentable square feet of building space on an estimated .78-acre parcel of land. Whistle Express is subject to a 20-year Triple Net (NNN) lease, which commenced 11/21/2022. The current annual rent is $368,769 and has scheduled increases of 2.00% Annually.
Investment highlights
- Long - Term NNN Lease | Whistle Express has over 16 years remaining on its original 20 - year Triple Net (NNN) lease.
- 100% Bonus Depreciation | The subject property is eligible for 100% bonus depreciation, offering potential tax advantages for investors.
- Signalized Hard Corner | Located at the intersection of Bridge Street and Pactolus Highway with excellent visibility.
- High Traffic Corridor | Combined traffic counts exceed 32,900 vehicles per day along Bridge Street and Pactolus Highway.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$368,770.00
$30,730.83/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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