2280 Ashley Phosphate Rd - Car Washes FOR SALE


North Charleston, SC 29406
$2,714,000 USD
973-632-1386
2280 Ashley Phosphate Rd, North Charleston, SC for Sale
$2,714,000 USD
Car Washes - FOR SALE
1/6
null | 5.25% Cap Rate

2280 Ashley Phosphate Rd
North Charleston, SC 29406


HIGHLIGHTS

  • Brand new 20-year ground lease with 4 (5-year) options and 10% rental increases every 5 years throughout base term and options
  • Corporate Guaranty: Autobell is a privately-owned company founded in 1969 and operates 91+ car washes
  • Significant tenant investment: Tenant-funded improvements create low rent and low acquisition basis for investor, with high collateral value
  • Located on a high traffic commuter road which is ideal for the car wash use: Over 73,200 Vehicles passing by daily along Ashley Phosphate Rd
  • Affluent, growing population - $89,387 average household income, the population is projected to increase by 45% by 2040
  • More than 151,000 residents and 76,000 employees support the trade area, providing a direct consumer base from which to draw

OVERVIEW

• The tenant recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site • The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation • The company currently operates 95 locations in the Southeast and Mid-Atlantic, with consistent expansion

FOR SALE DETAILS

PRICE

$2,714,000 USD

PRICE/SF

$543 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Autobell Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

60,113 SF

ZONING

B-2

APN/PARCEL ID

484-11-00-030

ASK ABOUT THIS PROPERTY

Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

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Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.