Listed by SURMOUNT
$5,811,669
Whistle Express
Details
Property Type Retail, Special Purpose
Sub Type Car Wash
Square Footage 5,200
Cap Rate 6.75%
NOI $392,288
Occupancy 100%
Tenancy Single
Brand/Tenant Whistle Express Car Wash
Lease Type NNN
Lease Term 20
Lease Expiration 05/31/2044
Remaining Term 17.9
Rent Bumps Yes
Lease Options 5, 5-Year Options
Year Built 2024
Acreage 1.380
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/01/2024
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 7465 Richlands Highway, Richlands, NC 28574. The site consists of roughly 5,200 rentable square feet of building space on an estimated 1.38-acre parcel of land. Whistle Express is subject to a 20-year Triple Net (NNN) lease, which commenced 6/1/2024. The current annual rent is $392,287 and has scheduled increases of 2.00% Annually.
Investment highlights
- Bonus Depreciation Opportunity | Qualifies for bonus depreciation, allowing eligible buyers to accelerate depreciation benefits and enhance after - tax investment returns.
- Brand New Construction | Newly developed Whistle Express features modern construction, low maintenance requirements and the latest car wash technology.
- Long - Term Corporate Lease | Long - Term Corporate Lease Backed by a long - term lease with Whistle Express Car Wash, providing dependable cash flow from a large operator.
- Prime Retail Corridor | Positioned along Richlands Highway with approximately 22,000 vehicles per day among national retailers and restaurants driving traffic.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$392,288.00
$32,690.67/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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