2727 Highway 17Mount Pleasant, SC 29466
- Retail properties
- 3,960 SF
Property Details for 2727 Highway 17
- Year built
- 2012
- Lot size
- 0.93 AC
- Property size (Sq ft)
- 3,960 SF
- Property type
- Retail properties
- Property subtype
- Other specialty properties
Description
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).
Location Insight
- City
- Mount Pleasant
- County
- Charleston
- State
- South Carolina
- Latitude
- 32.8553
- Longitude
- -79.8004
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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