For Sale
$7,035,492

2727 Highway 17Mount Pleasant, SC 29466

High-yield, NNN-leased car wash.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple interest in a thriving Zips Car Wash located at 2727 N Hwy 17, Mt. Pleasant, SC 29466. The property, built in 2012 and renovated in 2018, boasts 3,960 square feet on a 0.93-acre lot. A 20-year absolute NNN lease, commencing August 28, 2018, and expiring August 31, 2038, offers a substantial 13.8 years remaining. The lease includes annual 1.5% rent bumps, providing inflation protection. The property enjoys 100% occupancy, generating a strong NOI of $464,166 and a 6.60% cap rate. The asking price is $7,035,492, translating to $1,776.64 per square foot. The lease is backed by a corporate guarantee from Zips Car Wash, a national company with over 230 locations. The car wash benefits from a high-traffic location on N Hwy 17, a major thoroughfare with approximately 50,000 vehicles per day, and proximity to Charleston, SC. The site includes 15 vacuum stalls (with expansion potential) and a large, easily accessible tunnel. This offering provides a secure, long-term investment with significant upside potential. The property's strong performance and the tenant's financial stability make this an attractive opportunity for discerning investors. Fee simple ownership allows for potential bonus depreciation benefits (consult your tax professional).

Highlights

  • $7,035,492 asking price for a fee-simple interest in a Zips Car Wash.
  • 13.8 years remaining on a 20-year absolute NNN lease with a corporate guarantee from Zips Car Wash.
  • High-visibility location on N Hwy 17 in Mt. Pleasant, SC, a major thoroughfare with approximately 50,000 vehicles per day, near Charleston.
  • Absolute NNN lease with no landlord responsibilities.
  • Annual 1.5% rent increases.
  • Bonus depreciation potential (consult your tax professional).

Property Details for 2727 Highway 17

Property type
Specialty properties, Car washes
Square Feet
3,960 SF
Year Built/Renovated
2012/2018
Lot Size (sq. ft)
40,511 SF
Units
1

Location Insight

City
Mount Pleasant
County
Charleston
State
South Carolina
Latitude
32.855321166423
Longitude
-79.800369050023
2727 Highway 17, Mount Pleasant, South Carolina

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2727 Highway 17
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