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1860 Cherokee Avenue SW, Cullman, AL

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1860 Cherokee Avenue SW

Cullman, AL 35055-5546

Property Type:Specialty Sub Type:Car Wash Status:Existing Year Built:2008
Stories:1 Typical Floor:3,680 SF Building Size:3,680 SF
For Sale Price:$2,938,370 Price/SF:$798.47
Cap Rate:6.00 %

Sale Notes:
Marcus & Millichap is pleased to present the exclusive listing for 1860 SW Cherokee Ave in Cullman, AL. The tenant will enter into a brand new, 20-year triple-net (NNN) lease upon close of escrow with absolutely no landlord responsibilities. The base annual rent will be $176,302 and will have 5.00%rental escalations every five years through the base term as well as during the four, five-year tenant renewal options. The lease will have a corporate guarantee. International Car Wash Group operates 900 locations throughout the United States and Internationally. The property is 3,680 rentable square feet and is situated on 1.00 acres.

ICWG is the world’s largest car wash company currently operating in 14 countries around the globe, washing more than 35 million cars every year through a network of 900 locations. In August 2015, ICWG entered the US market and now has 126 sites, making it one of the country’s largest operators. ICWG is led by an experienced team of car wash and investment professionals committed to delivering value, both for their customers and investors. The team is focused on developing and growing the ICWG brand through a combination of market expansion, continuous innovation and investment. The sites are committed to delivering unparalleled service with consistent wash quality to each customer.

Marcus & Millichap
Eddie Greenhalgh
(205) 510-9111

Marcus & Millichap Inc
Glen Kunofsky
(212) 430-5100

Edward Otocka
(212) 430-5235

Gaurab Reja
(646) 805-1412

Ryan Sblendorio
(212) 430-5100

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