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3880 Patrick Way
Elizabeth City, NC 27909
Tidal Wave Express Car Wash · Retail Property For Sale
PROPERTY FACTS
ABOUT 3880 PATRICK WAY , ELIZABETH CITY, NC 27909
Capital Pacific is pleased to present an opportunity to acquire a high performing Tidal Wave express car wash located in a dominant retail corridor in Elizabeth City, NC. The tenant will enter into a brand new 20-year absolute NNN lease with zero landlord maintenance or expense responsibilities upon the close of escrow. The lease features 1.25% rental increases annually throughout the primary term. Tidal Wave Auto Spa is ranked in the Top 10 leading car wash operators in the country with 48 locations in operation and approximately 15 planned car washes in various stages of development. The subject property is situated on a hard signalized corner across from the main entrance to a dominant regional Walmart Supercenter and the Tanglewood Pavilions shopping center, a 150,000 square foot shopping center anchored by Hobby Lobby, Ross, TJ Max, Dollar Tree, and Aldi. The property has high visibility with direct exposure to over 20,000 vehicles per day. The subject car wash is a high performing and proven location with a very strong EBITDAR to rent coverage ratio.
PROPERTY TAXES
| Parcel Number | 7993760366 | Improvements Assessment | $1,079,000 |
| Land Assessment | $945,200 | Total Assessment | $2,024,200 |
PROPERTY TAXES
