3955 Ashley Phosphate RdNorth Charleston, SC 29418
- Retail properties
- 7,647 SF
Property Details for 3955 Ashley Phosphate Rd
- Year built
- 2007
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.49 AC
- Property size (Sq ft)
- 7,647 SF
- Zone code
- I_DC
- Property type
- Retail properties
- Property subtype
- Other car washes
- APN
- 172-15-15-020
- APU
- 1721515020
Description
This fee-simple investment opportunity presents a 5,039 square foot Zips Car Wash located at 3955 Ashley Phosphate Rd, North Charleston, SC 29418, in Dorchester County. The property sits on a 0.66-acre lot and boasts a strong 7.65% cap rate, generating a net operating income (NOI) of $274,041. Built in 2007, the car wash operates under a 20-year absolute triple-net (NNN) lease with approximately 14.1 years remaining, providing significant long-term stability. The lease commenced December 28, 2018, and expires December 31, 2038. Annual rent increases of 1.00% are built into the lease, ensuring consistent growth. Further enhancing the investment potential are six five-year tenant renewal options, extending the potential lease term to 50 years. The property is priced at $3,582,235, translating to $710.90 per square foot. This offering qualifies for 15-year accelerated depreciation and bonus depreciation, providing significant tax advantages. The tenant, Zips Car Wash, benefits from a recent $70 million investment by Atlantic Street Capital, solidifying their financial strength and commitment to the location. This is a compelling investment opportunity with substantial long-term returns and built-in growth potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,329,310
- 6.5%
- $2,150,132
- 7%
- $1,996,552
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,722,766
- Geo Method
- $3,263,256
-
Alternative Use
- Use
- Valuation
- Residential
- $1,813,717
- Hospitality
- $1,661,355
- Educational
- $1,382,228
- Medical
- $1,429,765
- Retail
- $2,150,132
Location Insight
- City
- North Charleston
- County
- Dorchester
- State
- South Carolina
- Latitude
- 32.9222
- Longitude
- -80.0932
- CBSA code
- 16700
- CBSA name
- CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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