Pegasus Investments is pleased to offer an exceptional opportunity to acquire a new 20-year absolute triple net leased Zips Car Wash (“Zips”) located in Greenville, South Carolina. The 100% absolute triple net lease features rare 1.50% annual rent increases and is signed with the corporate entity Zips Car Wash, LLC. Zips is a highly respected operator and is currently the 2nd largest owner operator of express / conveyor washes in the country. Founded in 2004, Zips currently has 150 locations in 15 states and is on pace to continue its high growth rate through acquisition and new store development. Investors can take advantage of highly attractive accelerated depreciation tax schedules which give 100% bonus depreciation in the first year, significantly increasing the after-tax yield when compared with other traditional net leased investments. Zips is strategically located along Wade Hampton Boulevard, a prominent gateway connecting downtown Greenville to Spartanburg, South Carolina. Formerly a KFC restaurant, the site was redeveloped in 2017 to a brand new state-of-the-art express car wash including over 30 vacuum stalls.
