For Sale
$3,596,252

62 Moore DrSouthaven, MS 38671

High-return car wash, long-term lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 2,053 square foot Take 5 Car Wash located at 62 Moore Dr, Southaven, MS 38671. The property sits on a 0.93-acre lot and boasts a strong 6.75% cap rate, generating a net operating income (NOI) of $242,747. Built in 2010, the car wash operates under a 20.1-year triple net (NNN) lease, with 14.8 years remaining. The lease commenced August 14, 2019, and expires August 31, 2039, featuring attractive 1.75% annual rental increases. The lease is further secured by a corporate guarantee from an international car wash group, eliminating landlord responsibilities. The asking price is $3,596,252, translating to a price per square foot of $1,751.71. The property enjoys 100% occupancy, making it an ideal, low-maintenance investment with significant long-term potential. This is a single-tenant property with a proven track record and a secure financial structure. The property's location in Southaven, Mississippi, adds to its appeal. This is a rare opportunity to acquire a high-performing, passively managed asset with substantial upside.

Highlights

  • $3,596,252 asking price for a 2,053 SF Take 5 Car Wash in Southaven, MS.
  • 20-year absolute triple-net (NNN) lease with zero landlord responsibilities.
  • 1.75% annual rental increases.
  • Corporate guarantee from International Car Wash Group Ltd.

Property Details for 62 Moore Dr

Property type
Specialty properties, Car washes
Square Feet
2,053 SF
Year Built
2010
Lot Size (sq. ft)
40,511 SF

Location Insight

City
Southaven
County
DeSoto
State
Mississippi
Latitude
34.9652269
Longitude
-89.9911831
62 Moore Dr, Southaven, Mississippi

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62 Moore Dr
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