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4120 Franklin St - Tsunami Express Car Wash 3,416 SF Specialty Building Offered at $4,620,000 at a 6.75% Cap Rate in Michigan City, IN 46360
Investment Highlights
- Bonus Depreciation
- Institutionally Backed
- Corporate Guarantee from Tsunami Express Car Wash (70+ Units)
- 20-Year Absolute Triple Net (NNN) Lease
Executive Summary
Surmount is pleased to present the exclusive listing for a Tsunami Express Car Wash located at 4120 Franklin Street, Michigan City, IN 46360. The site consists of roughly 3,416 rentable square feet of building space on an estimated .98-acre parcel of land. Tsunami Express Car Wash is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $311,850 and has scheduled increases of 2.00% Annually.
Property Facts
| Price | $4,620,000 | Building Class | C |
| Price Per SF | $1,352.46 | Lot Size | 0.98 AC |
| Sale Type | Investment NNN | Building Size | 3,416 SF |
| Cap Rate | 6.75% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2017 |
| Property Subtype | Car Wash |
| Price | $4,620,000 |
| Price Per SF | $1,352.46 |
| Sale Type | Investment NNN |
| Cap Rate | 6.75% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | C |
| Lot Size | 0.98 AC |
| Building Size | 3,416 SF |
| No. Stories | 1 |
| Year Built | 2017 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 46-05-09-101-013.000-009 | Improvements Assessment | $300,300 |
| Land Assessment | $173,200 | Total Assessment | $473,500 |
Property Taxes
Parcel Number
46-05-09-101-013.000-009
Land Assessment
$173,200
Improvements Assessment
$300,300
Total Assessment
$473,500
Contacts
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Edward Otocka -
James Westerberg -
Gordon Pollock -
Glen Kunofsky -
Christopher Marks -
Surmount
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4120 Franklin St - Tsunami Express Car Wash
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