Landshark Car Wash

2955 Warm Springs Road, Columbus, GA 31909

$5,360,000

Cap Rate 6.90%

Views: 87 DOM: 42 Updated: 08.05.24 Posted: 08.05.24 Status: Active

Summary

Price $5,360,000	Built/Renov 2017/2023	Tenant Landshark Car Wash
Cap Rate 6.90%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,223	Lease Start 05-27-2022	#Units 125
Price/SF $1,663.05	Expiration 02-28-2043	Tenant Type Automotive
NOI $370,000	R. Term 18.5	Ownership Fee Simple
Rent/SF $114.80	Increases 2.0%/1/yrs	Pop 5Mi 182,250
Lot/AC 1.03	Options 2/10yrs/2%	AHHI 5Mi $71,639

Lease Highlights

Landshark Car Wash has 18+ years remaining on the current lease term with 2 (10-year) options to extend
The lease features 2% annual rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate and personal guarantee for the entire lease term

Location Description

Landshark Car Wash is strategically located on Warm Springs Road, with access to a substantial daily traffic count of 50,000 vehicles. The property is situated across from Peachtree Mall, which attracts 10 million customers each year and is the only super-regional shopping center within 60 miles, home to more than 100 tenants. Additionally, it is within 10 miles of the corporate headquarters...

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Key Features

Recent renovation
Build to suit
Dense retail corridor
Freeway visibility
Dense 100M+ pop 5 mi
Major MSA
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Landshark Car Wash Wikipedia Columbus, Georgia Zip Code 31909 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Landshark Car Wash
Guarantor:Corporate
Company:Freeman Spogli & Co
# Units:125
Stock:Private

About Tenant

LandShark Car Wash offers a wide range of services including exterior and interior car washing, detailing, and waxing. The Car wash boats a family-friendly environment that includes a comfy lounge...

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Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

142 Listings
11999 Views
62 Sold

Bill Asher

Hanley Investment Group

Contact

142 Listings
12288 Views
60 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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