2790 North RdOrangeburg, SC 29118

Property Details for 2790 North Rd

Year built

2023

Lot size

2.15 AC

Property size (Sq ft)

3,700 SF

Property type

Specialty properties

Property subtype

Car washes

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Tidal Wave Auto Spa in Orangeburg, South Carolina. Located at 2790 North Rd, this 3,700 square foot car wash, built in 2023, sits on a 2.15-acre lot in a high-traffic area (28,627 VPD). The property benefits from a 20-year absolute NNN lease with 18 years remaining, providing a stable, low-risk income stream. The lease includes a corporate guarantee from Tidal Wave Auto Spa, a top-four national operator with over 280 locations. The current NOI is $374,544, with 2% annual rent increases built into the lease, resulting in an attractive cap rate of 6.73% and an 8.01% average return over the remaining lease term. The lease also includes five (5), five (5) year renewal options. The property's land value is $59.40 per square foot, and the asking price is $5,563,000 ($1,503.51 per square foot). This investment offers significant tax advantages through 60% bonus depreciation (consult your tax advisor). The tenant, Tidal Wave Auto Spa, is a rapidly expanding company, ranked among Inc.'s 5000 fastest-growing private companies for five consecutive years. Golden Gate Capital, a leading private equity firm with $20 billion in committed capital, backs the company, further solidifying the investment's stability. Orangeburg's strategic location along I-26 and its growing economy make this a compelling investment in a strong, stable market.

Location Insight

City

Orangeburg

County

Orangeburg

State

South Carolina

Latitude

33.5267

Longitude

-80.8885

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