Investment Summary
Price | $5,305,000 |
Cap Rate | 6.35% |
NOI | $336,827 |
Lease Term | 20 years |
Lease Type | Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
Rental Increases | 10% rental increases every five (5) years |
Year Built | 2023 |
Building Size | 3,202 SF |
Lot Size | 1.0 acres (43,560 SF) |
Status | Available |
Lead Brokers | Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 20-YEAR ABSOLUTE NNN LEASE WITH STRONG GUARANTEES
» New 20-year absolute NNN lease with 10% rental increases every five (5) years
» Four (4) option periods of five (5) years each provides a solid long-term investment
» Absolute NNN lease requires no landlord management, ideal for an out-of-area investor or local investor
» Guaranteed by Carnett’s Management Company, American Car Wash Equipment and Supply Company, Genesis Building Systems, LLC
» With an outstanding infrastructure and support team with 30-plus years of trusted car care management experience, Mr. Clean Car Wash is poised for substantial growth
PRIME LOCATION AT THE CONFLUENCE OF MAJOR GEORGIA THOROUGHFARES
» Central location just off the signalized intersection of U.S. Route 19/South Chestatee Street and Morrison Moore Parkway (combined 29,800 AADT)
» U.S. Route 19 is a long-haul interstate route connecting the Gulf of Mexico with Lake Erie, allowing the site to capture significant commuter traffic
» High-visibility location across from the University of North Georgia Dahlonega Campus, which features over 19,000 students and faculty
» Excellent proximity to major national tenants such as Walmart Supercenter, Chick-fil-A, McDonald’s, Moe’s Southwest Grill, Zaxby’s, Taco Bell, Starbucks, and many more
POPULOUS GEORGIA SUBURB WITH HIGH-GROWTH POTENTIAL
» 20,109 residents live within five miles of the property with a 17% population increase since 2010, providing a reliable and growing customer base for the site
» Average annual household income of $86,826 within a five-mile radius
» Projected population and income increases within a five-mile radius over the next five years poise Mr. Clean Car Wash and Dahlonega for steady concurrent growth
» U.S. Route 19 leads directly to Downtown Atlanta, the capital and most populous city in Georgia (504,360 residents)
NEW 2023 BUILD-TO-SUIT CONSTRUCTION
» New high-quality 2023 build-to-suit construction featuring to latest Mr. Clean Car Wash prototype
» Site features a dual-lane drive-thru and 22 parking stalls for added customer convenience
Property Description
» This Mr. Clean Car Wash is a central location just off the signalized intersection of U.S. Route 19/South Chestatee Street and Morrison Moore Parkway (combined 29,800 AADT)
» U.S. Route 19 is a long-haul interstate route connecting the Gulf of Mexico with Lake Erie, allowing the site to capture significant commuter traffic
» The property is a high-visibility location across from the University of North Georgia Dahlonega Campus, which features over 19,000 students and faculty
» Ideally set in a large retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Chick-fil-A, McDonald’s, Moe’s Southwest Grill, Zaxby’s, Taco Bell, Starbucks, and many more, creating significant crossover shopping
» The site greatly benefits from its surrounding population, with 20,109 residents living within five miles of the property and a 17% population increase since 2010, providing a reliable and growing customer base for the site
» Projected population and income increases within a five-mile radius over the next five years poise Mr. Clean Car Wash and Dahlonega for steady concurrent growth