For Sale
$5,047,843

1035 Parkway BlvdAthens, GA 30606

High-Cap Rate Car Wash, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple Mister Car Wash located at 1035 Parkway Blvd, Athens, GA 30606. The property boasts a substantial 3,855 square feet building on a 0.71-acre lot, built in 2019. Currently operating under a 20-year triple-net (NNN) lease with 15.1 years remaining, offering significant long-term stability and minimal landlord responsibilities. The lease features annual rent increases of 1.50%, ensuring consistent income growth. The current annual net operating income (NOI) stands at $353,349, translating to an attractive 7.00% capitalization rate. This property benefits from its strategic location within a thriving retail corridor, surrounded by major national retailers including Walmart, Lowe's, Kohl's, Chick-fil-A, Costco, Kroger, The Home Depot, and Starbucks, guaranteeing high visibility and consistent customer traffic. Furthermore, this investment qualifies for 15-year accelerated depreciation and bonus depreciation, offering considerable tax advantages (consult a Certified Public Accountant for details). The corporate guarantee provides additional security for this single-tenant, fee-simple ownership opportunity. This is a rare chance to acquire a high-performing, low-maintenance asset with substantial long-term growth potential. The asking price is $5,047,843.

Highlights

  • $5,047,843 Asking Price, 7.00% Cap Rate, $353,349 NOI, Fee Simple Ownership.
  • 15+ years remaining on a 20-year NNN lease; zero landlord responsibilities.
  • High-traffic retail location anchored by national retailers (Walmart, Lowe's, Kohl's, etc.).
  • Qualifies for 15-year accelerated depreciation and bonus depreciation.

Property Details for 1035 Parkway Blvd

Property type
Specialty properties, Car washes
Square Feet
3,855 SF
Year Built
2019
Lot Size (sq. ft)
30,928 SF

Location Insight

City
Athens
County
Oconee
State
Georgia
Latitude
33.9216386
Longitude
-83.4415213
1035 Parkway Blvd, Athens, Georgia

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1035 Parkway Blvd
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