For Sale
$5,726,193

2178 Cherry RdRock Hill, SC 29732

High-yield car wash, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
Exceptional investment opportunity: This fee-simple car wash in Rock Hill, South Carolina, offers a compelling return. The property, built in 2012, boasts 3,246 square feet on a 0.95-acre lot at 2178 Cherry Rd, 29732. It's currently under a 20-year NNN lease with a corporate guarantee, providing significant financial stability. The lease commenced December 28, 2018, and has approximately 14.1 years remaining, with six 5-year renewal options extending the potential lease term to 50 years. The current annual net operating income (NOI) is $415,149, representing a 7.25% cap rate on the $5,726,193 asking price. The lease includes annual rent increases of 1.00%, ensuring consistent growth. This property is eligible for 15-year accelerated depreciation and bonus depreciation, further enhancing its investment appeal. The property's strong tenant, Zips Car Wash, benefits from recent significant investment, adding to its long-term viability. This is a rare opportunity to acquire a high-performing, low-maintenance asset with substantial upside potential.

Highlights

  • Fee-simple car wash in Rock Hill, SC, offering a compelling return.
  • 20-year absolute NNN lease with corporate guarantee, approximately 14 years remaining.
  • Annual rent increases of 1.00%.
  • Six 5-year tenant renewal options, extending potential lease term to 50 years.
  • Qualifies for 15-year accelerated depreciation and bonus depreciation.

Property Details for 2178 Cherry Rd

Property type
Specialty properties, Car washes
Square Feet
3,246 SF
Year Built
2012
Lot Size (sq. ft)
41,382 SF

Location Insight

City
Rock Hill
County
York
State
South Carolina
Latitude
34.9647877
Longitude
-80.9986971
2178 Cherry Rd, Rock Hill, South Carolina

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2178 Cherry Rd
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