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213 E Meighan Boulevard, Gadsden, AL

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DetailMap
213 E Meighan Boulevard

Gadsden, AL 35903-1046 - Etowah County Submarket


Property Type:Specialty Sub Type:Car Wash Status:Existing Year Built:2009
Stories:1 Typical Floor:3,787 SF Building Size:3,787 SF
For Sale Price:$2,900,000 Price/SF:$765.78
Cap Rate:6.25 %



Sale Notes:
INVESTMENT SUMMARY
Marcus & Millichap is pleased to present the exclusive listing for 213 E Meighan Blvd in Gadsden, 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 $181,250 and will have 1.50% annual rental escalations 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 more than 900 locations throughout the United States and Internationally. The property is 3,787 rentable square feet and is situated on 0.93 acres.

GUARANTOR OVERVIEW
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 more than 900 locations. In August 2015, ICWG entered the U.S. market and now operates 135 locations, making it the country’s second largest operator. 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 ICWG 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

Daniel Price
(212) 430-5100




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