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2280 Ashley Phosphate Rd - Autobell Car Wash 5,000 SF Specialty Building Offered at $2,714,000 at a 5.25% Cap Rate in North Charleston, SC 29406
Investment Highlights
- Brand new 20-year ground lease with 4 (5-year) options and 10% rental increases every 5 years throughout base term and options
- Significant tenant investment: Tenant-funded improvements create low rent and low acquisition basis for investor, with high collateral value
- Affluent, growing population - $89,387 average household income, the population is projected to increase by 45% by 2040
- Corporate Guaranty: Autobell is a privately-owned company founded in 1969 and operates 91+ car washes
- 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
- More than 151,000 residents and 76,000 employees support the trade area, providing a direct consumer base from which to draw
Executive Summary
• 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
• 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
Property Facts
1 1
Property Taxes
| Parcel Number | 484-11-00-030 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $73,730 |
Property Taxes
Parcel Number
484-11-00-030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$73,730
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2280 Ashley Phosphate Rd - Autobell Car Wash
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