3955 Ashley Phosphate RdNorth Charleston, SC 29418

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

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,838,030

  6.5%

  $1,696,650

  7%

  $1,575,460

• Comparable approach

  Method

  Valuation

  Relative Method

  $710,983

  Geo Method

  $1,346,740

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,336,410

  Mixed-Use / Specialty

  $1,679,370

  Hospitality / Lodging

  $1,217,480

  Office

  $1,657,700

  Institutional / Educational

  $1,741,860

  Residential Income

  $2,037,970

  Multifamily

  $2,506,480

  Automotive / Energy

  $1,493,020

  Parking / Income-Based Land

  $526,316

  Restaurant / Food Service

  $849,490

  Healthcare / Senior Housing

  $1,733,680

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

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