For Sale
$3,313,969

3911 Broad StWhitehall, OH 43213

High-Yield Car Wash Investment

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 4,380-square-foot Take 5 Car Wash situated on a 0.92-acre lot at 3911 E Broad St, Whitehall, Ohio, 43213. The property boasts a 20-year NNN lease with approximately 14.7 years remaining, commencing July 19, 2019, and expiring July 19, 2039. The lease includes a corporate guarantee from Driven Brands Inc., providing significant security. The current annual net operating income (NOI) stands at $215,408, representing a compelling 6.50% cap rate on the $3,313,969 asking price. Annual rent increases of 1.75% are built into the lease throughout the initial term and four subsequent five-year renewal options. The property benefits from its strategic location, approximately 5.5 miles east of downtown Columbus and near John Glenn Columbus International Airport. Built in 2016, this well-maintained car wash offers a low-risk, high-return investment with potential tax advantages, including eligibility for 60% bonus depreciation and a 15-year straight-line method (consult your tax advisor for details). The property is 100% occupied, minimizing vacancy concerns. This offering presents a rare chance to acquire a stable, high-performing asset in a desirable location. The property is a single-tenant operation with zero landlord responsibilities.

Highlights

  • 20-Year NNN Lease with ~14.7 Years Remaining; Zero Landlord Responsibilities.
  • Excellent Location: 5.5 miles east of downtown Columbus, near John Glenn International Airport.
  • Below Replacement Cost; Strong Value Proposition.
  • Corporate Guarantee from Driven Brands Inc.
  • Significant Tax Advantages: Eligible for 60% bonus depreciation and 15-year straight-line depreciation.
  • Annual Rent Increases: 1.75% annually throughout the initial term and four 5-year renewal options.

Property Details for 3911 Broad St

Property type
Specialty properties, Car washes
Square Feet
4,380 SF
Year Built
2016
Lot Size (sq. ft)
40,075 SF

Location Insight

City
Whitehall
County
Franklin
State
Ohio
Latitude
39.9733084
Longitude
-82.8973692
3911 Broad St, Whitehall, Ohio

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3911 Broad St
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